Tag: inverse ETFs

Morgan Stanley fine
February 14, 2017 BY LeapRate Staff

Morgan Stanley pays $8 million SEC fine for Inverse ETF recommendations

The U.S. Securities and Exchange Commission has announced that the Morgan Stanley Smith Barney unit of investment bank Morgan Stanley (NYSE:MS) has agreed to pay an $8 million penalty and admit wrongdoing to settle charges related to single inverse ETF investments it recommended to advisory clients. The SEC’s order finds that Morgan Stanley did not…

Read more
January 10, 2014 BY Gerald Segal

Two Stifel companies pay $1 million for sales practices of leveraged products

Both companies failed to mitigate increased risks associated with Inverse and leveraged ETFs A press release has been issued by the Financial Industry Regulatory Authority (FINRA) regarding a decision to fine two Saint Louis based broker-dealers both owned by Stifel Financial Corporation. Stifel, Nicolaus & Co. and Incorporated and Century Securities Associates are to pay…

Read more
December 05, 2013 BY Gerald Segal

FINRA fines broker $700K for churning

84 customers affected by the company's misleading statements on leveraged and inverse ETFs The Financial Industry Regulatory Authority (FINRA) has made an announcement today that it has mandated Atlanta-based brokerage J.P. Turner to pay back $707,559 to 84 customers who were sold leveraged and inverse exchange traded funds (ETFs) plus for excessive mutual fund switches.…

Read more