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News, Articles and Rulings

Cuomo's Auction Rate Securities Lawsuit; Continuing Dismay for Investors

New York Attorney General Andrew Cuomo has filed a multi-billion dollar securities fraud lawsuit against banking giant UBS that says the firm deceived investors when it marketed and sold auction rate securities as safe alternatives to cash. Today,...

Advisors angered by Schwab leaving larger YieldPlus investors in lurch

Since news hit the street that Schwab is turning its back on its YieldPlus bond fund investors who have large losses, investment advisors have begun to vocalize their anger with San Francisco-based Schwab. A story in InvestmentNews that broke this week quotes a n...

Vernon Healy Files Schwab YieldPlus Investment Claim

Vernon Healy, along with former SEC attorney Thomas Shine, has filed a FINRA arbitration claim against both Charles Schwab and one of its prominent fund managers, Kimon Daifotis, alleging that the safety of Schwab's YieldPlus Fund (SWYSX, SWYP...

Schwab YieldPlus Funds Drain Millions from Retirees' Nest Eggs

Charles Schwab advertised the Schwab YieldPlus funds to investors as “a safe alternative to money market funds that preserve principal while being designed with your income needs in mind.” The firm said the investment would deliver income higher than money mark...

Vernon Appointed by Governor to 20th Cir. Judicial Nominating Commission

Chris Vernon was appointed on April 30, 2008 by Florida Governor Charlie Crist to serve a four-year term as a member of the Judicial Nominating Commission for the Twentieth Judicial Circuit of Florida. The Twentieth Judicial Circuit encompasses five counti...

What's Wrong with Arbitration

In March of 2008, San Francisco’s city attorney sued the National Arbitration Forum, alleging that arbitrations administered by that forum are unfair to consumers. The San Francisco lawsuit is part of a larger protest by co...

Healy Addresses CPAs

Susan Healy addressed the Southwest Florida Chapter of the Florida Institute of Certified Public Accountants (FICPA) on April 17, 2008. FICPA, which was founded in 1905, represents Florida's CPAs, offers programs to enhance it...

Vernon Speaker at CFA Annual Wealth Management Conference

Chris Vernon gave a presentation on April 9, 2008, to attendees of the CFA’s annual wealth management conference in Atlanta, Georgia. This year’s conference was sponsored by the CFA Society of Atlanta, one of the member societies of CFA Institute, an inter...

The Auction Rate Securities Debacle

Imagine going to your bank and finding the teller windows closed. Now, imagine returning a month later and learning that the teller windows will be closed for the foreseeable future. Then, if you declare that you immediately must have the money, the bank ...

Wachovia tops in annuity-sales commissions

Wachovia Bank generated close to $500 million in commissions from selling annuities to customers in 2007. When considering an annuity investment, consumers should keep in mind that the successful sale of an annuity may generate a ...

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