Iorio Altamirano LLP, a securities arbitration law firm based in New York, NY, is investigating potential securities arbitration claims against Western International Securities, Inc. and its Pennsylvania-based broker, Heath Goldstein, for its sale of L Bonds issued by GWG Holdings, Inc. Western International Securities was part of a network of…
On January 30, 2023, the United States Securities and Exchange Commission (“SEC”) published a Risk Alert including its observations from Broker-Dealer Examinations Related to Regulation Best Interest (“Reg BI”). The risk alert highlights deficiencies observed during regulatory examinations, as well as weak practices by broker-dealers that could result in deficiencies.…
On September 14, 2022, Western International Securities, Inc. filed its Answer to the Securities and Exchange Commission’s Complaint denying that the firm violated the standards under Regulation Best Interest (“Reg BI”) in approving, recommending, and supervising the sale of speculative, high-risk, and illiquid L Bonds issued by GWG Holdings, Inc.…
In an annual report more than two decades ago, Warren Buffett dispensed some wise words of knowledge: “You only find out who is swimming naked when the tide goes out.” Reportedly, Mr. Buffett was referring to knowing what risks a company is taking until it faces adverse conditions. Mr. Buffett…
You worked hard, opened a brokerage or retirement account, and invested your savings with a financial advisor or stockbroker, only to suffer financial losses due to bad investment advice, misleading sales pitches, or brokers that were driven by commissions. Now what? Can I Sue My Financial Advisor Over Losses? Yes,…
As Joe Biden takes his place as the 46th President of the United States of America, House Financial Services Committee Chairwoman Maxine Waters, D-Calif., urges the Biden Administration to rescind Regulation Best Interest (Reg BI). In a letter dated December 4, 2020, Rep. Waters outlined dozens of Trump-era regulations promulgated…
Investing your money is a great way to grow your wealth, save for retirement, and reach your financial goals. If you invest in the appropriate products, you can also receive income from investments, build on-pre-tax dollars, or reduce taxable income. If you do not invest, you miss out on opportunities…
When an investor suffers harm, including investment losses, due to misconduct by a financial advisor or broker-dealer, the investor can file a securities arbitration claim against their financial advisor and/or broker-dealer in an effort to be compensated. The case will be presented and defended in an arbitration proceeding to a…
Iorio Altamirano LLP is investigating whether registered stockbrokers and financial advisors inappropriately recommended that customers purchase common stock of Eastman Kodak Company (KODK). Iorio Altamirano LLP is an investor advocate law firm based in New York, NY. We help investors recover financial losses due to wrongful conduct by financial advisors…
The global campaign promoting investor education and protection kicked off this week. Securities regulators in the U.S. issued a joint investor bulleting highlighting key themes for investors. Among them, the benefits of holding long-term investments, the rise of COVID-19 scams, the need for investors to use resources available to confirm…