Articles Posted in Broker/Dealer

Bank Of America N.A., Banc of America Mortgage Securities, Inc., and Merrill Lynch, Pierce, Fenner & Smith, Inc. – Florida Residential Mortgage-Backed Securities – South Florida Material Misrepresentation FINRA Arbitration and Litigation Attorney
Russell L. Forkey

SEC Charges Bank of America Entities with Material Misrepresentations and Omissions in Connection with an RMBS Offering Recently, the Securities and Exchange Commission (“Commission”) filed a civil injunctive action against Bank of America, N.A. (BANA), Banc of America Mortgage Securities, Inc. (BOAMS), and Merrill Lynch, Pierce, Fenner & Smith, Inc. f/k/a Banc of America Securities…

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UBS – Collateralized Debt Obligation (CDO) – Florida Collateralized Debt Obligation Fraud and Market Manipulation FINRA Arbitration and Litigation Attorney
Russell L. Forkey

Florida Collateralized Debt Obligation – FINRA Arbitration and Litigation Attorney: Pool Identification – ACA ABS 2007-2: UBS to Pay $50 Million to Settle SEC Charges of Misleading CDO Investors The Securities and Exchange Commission (“Commission”) recently charged UBS Securities with violating securities laws while structuring and marketing a collateralized debt obligation (CDO) by failing to…

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Taxable Municipal Bond – Bond Investment Fraud, Misrepresentation and Mismanagement FINRA Arbitration and Litigation Attorney
Russell L. Forkey

Taxable Municipal Bond – South Florida Bond Investment Fraud, Mismanagement and Misrepresentation, FINRA Arbitration and Litigation Attorney: A taxable municipal bond is a taxable debt obligation of a state or local governmental entity. Taxable municipal bond are issued as private purpose bonds to finance such projects as a sports stadium, as municipal revenue bonds where…

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Premium Bond – Florida Municipal, Corporate and Revenue Bond Fraud, Misrepresentation and Breach of Fiduciary Duty FINRA Arbitration and Litigation Attorney
Russell L. Forkey

Municipal, Corporate and Revenue Bond – South Florida Breach of Fiduciary Duty, Breach of Contract and Negligence FINRA Arbitration and Litigation Attorney: A premium bond is a bond (Corporate, Revenue and Municipal) with a selling price above face or redemption value. For example, a bond with a face value of $1,000 would be called a…

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Preliminary Prospectus (Official Statement) – South Florida Fraudulent and Misleading Offering Document FINRA Arbitration and Litigation Attorney
Russell L. Forkey

Preliminary Prospectus, Preliminary Offering Document, Preliminary Official Statement – South Florida Fraud, Misrepresentation and Omission FINRA Arbitration and Litigation Attorney: A preliminary prospectus also known as a “red herring” is the first document released by an underwriter of a new issue to prospective investors. The document offers financial details and other information about the issue…

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Put and Call Option Premium – South Florida Option Abuse, Misrepresentation and Negligent Supervision FINRA Arbitration and Litigation Attorney
Russell L. Forkey

Put and Call Option Premium Income – South Florida Option Abuse, Excessive Activity, Breach of Fiduciary Duty, Negligent Supervision FINRA Arbitration and Litigation Attorney: Option premium income is income received by an investor who sells a put option or call option. An investor collects premium income by writing a covered option, if the investor owns…

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Steven J. Brewer – South Florida Promissory Note Fraud and Misrepresentation Litigation and FINRA Arbitration Attorney
Russell L. Forkey

In the Matter of Steven J. Brewer: On July 12, 2013, the Securities and Exchange Commission announced the issuance of an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934 (Exchange Act) and Section 203(f) of the Investment Advisers Act of 1940 (Advisers Act), Making Findings and Imposing Remedial…

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Johnny Clifton – Florida Oil and Gas Limited Partnership Fraud and Misrepresentation FINRA Arbitration and Litigation Attorney
Russell L. Forkey

The Securities and Exchange Commission Sanctions Johnny Clifton for Antifraud and Failure to Supervise Violations The Securities and Exchange Commission (Commission) recently announced that it barred Johnny Clifton, who was president, chief executive officer, and principal of MPG Financial, LLC, a former Commission-registered broker-dealer, from associating with any broker, dealer, investment adviser, municipal securities dealer,…

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Notice of Adoption of Final Rule for Broker – Dealers Engaging in a Retail Forex Business – South Florida Retail Forex FINRA and NFA Arbitration Attorney
Russell L. Forkey

Adoption of Final Rule for Broker-Dealers Engaging in a Retail Forex Business The Securities and Exchange Commission (Commission) recently announced the adoption of a final rule (Rule 15b12-1) to permit a registered broker-dealer to engage in a retail forex business, provided that the broker-dealer complies with the Securities Exchange Act of 1934, the rules and…

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Yield To Maturity (YMT) – South Florida Fixed Income Breach of Fiduciary Duty, Negligent Supervision and Fraud FINRA Arbitration and Litigation Attorney
Russell L. Forkey

Yield to Maturity (YTM) – South Florida Breach of Fiduciary Duty, Negligent Supervision and Breach of Contract Litigation and FINRA Arbitration Attorney, Russell L. Forkey, Esq. “Yield to Maturity” is a concept used to determine the rate of return an investor will receive if a long-term, interest-bearing investment, such as a bond is held to…

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