IFAwebnews » securities

SEC accuses investment advisor of selling fake securities on LinkedIn

Bob Graham — Tue, 10 Jan 2012 10:54:34 +0000

The U.S. Securities and Exchange Commission accused an Illinois-based investment advisor with offering to sell fictitious securities on LinkedIn, the social networking site.

SEC accuses investment advisor of selling fake securities on LinkedIn via IFAwebnews.

Raymond James’ units to pay $2.1 million over excessive commissions

Bob Graham — Thu, 29 Sep 2011 16:13:13 +0000

Raymond James & Associates and Raymond James Financial Services agreed to pay restitution of $1.69 million after the Financial Industry Regulatory Authority found it charged unfair and unreasonable commissions.

Raymond James’ units to pay $2.1 million over excessive commissions via IFAwebnews.

Insurer sues investment firm for ‘shoddy’ mortgage securities

Jaime L. Brockway — Sun, 21 Aug 2011 23:18:56 +0000

A Northbrook, Ill.-based insurer sued Goldman Sachs and its affiliates for allegedly selling the insurer more than $123 million in securities backed by poor-quality mortgages between 2006 and 2007.

Insurer sues investment firm for ‘shoddy’ mortgage securities via IFAwebnews.

10 insurers with direct, indirect U.S. risks see S&P ratings drop

Bob Graham — Tue, 09 Aug 2011 01:43:05 +0000

Standard & Poor's Ratings Services lowered to “AA+” from “AAA” its long-term counterparty credit and financial strength ratings on the member companies of five U.S. insurance groups, following its lowering of the U.S.'s credit rating last week.

10 insurers with direct, indirect U.S. risks see S&P ratings drop via IFAwebnews.

Bailed-out insurer seeks refuge through mortgage investment lawsuits

Jaime L. Brockway — Tue, 10 May 2011 12:56:23 +0000

American International Group (AIG), the global insurer that at one point was 92% owned by the U.S. government after a $182 billion bailout, is taking legal action concerning billions of dollars it allegedly lost due to mortgage-related fraud.

Bailed-out insurer seeks refuge through mortgage investment lawsuits via IFAwebnews.

Va. businessman guilty in multi-million dollar insurance fraud scheme

Jaime L. Brockway — Wed, 20 Apr 2011 08:33:57 +0000

A Richmond, Va., businessman, whose companies were barred from selling in Virginia for 120 days, pleaded guilty to participating in an investment scheme involving a handful of insurance companies.

Va. businessman guilty in multi-million dollar insurance fraud scheme via IFAwebnews.

Businessman convicted in Va. in $100 million life-settlement fraud

IFAwebnews Staff — Mon, 28 Mar 2011 13:20:12 +0000

A federal jury in Richmond, Va., convicted a Houston businessman for his role in a $100 million life-settlement fraud scheme that prosecutors say bilked more than 800 people in the U.S. and Canada.

Businessman convicted in Va. in $100 million life-settlement fraud via IFAwebnews.

‘Unprecedented’ opportunity for advisors as annuity assets reach all-time high

Jaime L. Brockway — Wed, 09 Mar 2011 13:22:30 +0000

The annuity industry ended last year on “strong and secure footing,” where variable annuity assets reached an all-time high and fourth quarter sales showed the highest levels of last year, a report showed.

‘Unprecedented’ opportunity for advisors as annuity assets reach all-time high via IFAwebnews.

Indicted Fla. insurance agent may lose $936,000 in commissions

IFAwebnews Staff — Thu, 24 Feb 2011 16:25:04 +0000

An insurance agent in Florida is facing fraud charges and the possible seizure of nearly $1 million in commissions authorities say he illegally collected from the alleged illegal sale of up to $32 million in unregistered securities in the Tampa Bay area.

Indicted Fla. insurance agent may lose $936,000 in commissions via IFAwebnews.

Former executive admits role in alleged $100 million life settlement scam

IFAwebnews Staff — Mon, 22 Nov 2010 15:18:28 +0000

A Houston man, one of the seven men charged in a $100 million life insurance fraud scheme earlier this year, pleaded guilty to a pair of conspiracy charges.

Former executive admits role in alleged $100 million life settlement scam via IFAwebnews.