Securities Fraud Lawyers Blog

Top 10 Senior Scams to Avoid

Published on: February 17, 2017 | by Savage Villoch Law, PLLC

Senior Scams: Preying on the Nation’s Vulnerable

Senior scams being perpetrated against some the country’s seniors and the elderly has been on the rise over the past few years. Seniors are especially vulnerable to fraud due to health issues or the natural effects of aging.

A USA Today report states that a hotline set-up by the Senate Aging Committee received twice as many calls for senior scams involving claimed tax debts in 2016 than any other complaint. The “tax debt” senior scam also topped the Committee’s annual report comprising reported financial scams for the year.

Stock Market Growth Continues Under ‘Trump Trade’

Published on: February 10, 2017 | by Savage Villoch Law, PLLC

U.S. stock markets continue to rally this week amid optimism around President Trump’s economic plans. Reaching a historic high on Monday, S&P 500 topped $20 trillion. This latest rally is a part of the ongoing boost stock market indices have been enjoying as economists wait for the Trump Administration to roll out its economic plan.

Despite a slight stall last week, the stock market has a renewed optimism, with financial and industrial stocks benefiting most from the ‘Trump trade’.

Despite stock market optimism from Wall Street, economists remain wary of the President’s economic plan. According to a Reuters report, some experts are starting to express concern over when he will actually introduce his plan.

Dodd-Frank Cuts Likely Under Banking Regulation Reviews

Published on: February 3, 2017 | by Savage Villoch Law, PLLC

Uncertain Future for Dodd-Frank

Last week, President Trump ordered a review of major banking regulations put in place following the 2008 financial crisis, largely comprising Dodd-Frank regulations. President Trump has made clear that rollbacks are a main objective for these reviews.

Though the executive order only calls for a review, the Trump administration aims to make major cuts to banking regulations, largely affecting Dodd-Frank’s enforcement measures: Volcker Rule and the Consumer Financial Protection Bureau (CFPB).

As Dow Hits 20k, What Should Investors Expect for 2017?

Published on: January 26, 2017 | by Savage Villoch Law, PLLC

Setting a Record

The Dow has done it.

On Wednesday Jan. 25, the Dow hit a record high of 20,069 amid celebration from broker-dealers and investors alike. The 20k mark is an important milestone for the industrial market index. It not only represents the U.S. economy’s turnaround following the recession, but also the wave of stock market optimism riding on President Trump’s election.

Tips for Tracking Your Investment Brokerage Activity

Published on: January 19, 2017 | by Savage Villoch Law, PLLC

Many passive investors are happy just leaving their investments at the hands of their brokerage firms. Many investors opt review brokerage activity via a monthly overview statement rather than from a hands-on approach. Broker-dealers handling investment accounts are free to make most decisions on quantity and frequency of investment securities.

Although ostensibly broker-dealers must have the investor’s interests at heart, some may take advantage of the lack of oversight from the investor.

The Securities and Exchange Commission (SEC) warns that, in some cases, investors have encountered excessive fees due to sharp increases in brokerage activity on investment accounts.

Why it Matters That NYSE is Expanding Securities Trading

Published on: January 13, 2017 | by Savage Villoch Law, PLLC

By the end of 2017, the New York Stock Exchange (NYSE) will open up its trading floor to all U.S. securities. Currently, NYSE restricts securities trading on the floor to the top 3,166 stocks, according to a Reuters report.

The change means that, now, up to 8,600 securities can be traded by floor brokers.

So, how does this change meet with the rising popularity of electronic trading and what does this change mean for investors?

Brokerage Firms Fail to Protect Consumer Records

Published on: January 2, 2017 | by Savage Villoch Law, PLLC

The Financial Industry Regulation Authority (FINRA) announced fines against 12 securities firms for their failure to accurately protect consumer records.

FINRA carried out fines, totaling $14.4 million, against 12 securities brokerage firms, including some of the largest-backed firms in the country.

FINRA found that these firms storing broker-dealer and consumer records without precautions in place to prevent alteration.

Inexperienced Investors Targeted in Day-Trading Scam

Published on: December 26, 2016 | by Savage Villoch Law, PLLC

Last week, the Securities and Exchange Commission (SEC) charged two individuals in a fake day-trading scheme targeting inexperienced investors.

According to the SEC’s press release, the two men in question scammed investors out of more than $1.4 million through the operation of a false day-trading investment firm.

Luring Investors with Day-Trading

Settling Broker-Dealer/Customer Disputes

Published on: December 19, 2016 | by Savage Villoch Law, PLLC

Ever wonder about how customer disputes are resolved between investors and broker-dealers?

Is a lawsuit necessary?

Do you need to hire a lawyer?

Reverse Mortgage Consumers Face False Claims

Published on: December 12, 2016 | by Savage Villoch Law, PLLC

Reverse Mortgage Companies See Reversal of Fortunes

This week, the Consumer Financial Protection Bureau (CFPB) announced charges against three top reverse mortgage companies with false claims and deceptive advertising. These companies lured consumers into reverse mortgage contracts under the claim that they would not stand a chance of losing their homes, among other promises.

American Advisors Group, Reverse Mortgage Solutions and Aegean Financial have all been ordered to cease deceptive advertising, comply with regulations and pay penalties by the CFPB.