Peregrine Financial Investigation

July 11, 2012

Peregrine Financial Group customers have recently had their funds frozen by regulators.  Regulators froze the funds after discovering:  Peregrine reported it had about $400 million in customer-segregated funds on or about June 29, of which $225 million was on deposit at U.S. Bank. The regulator was then made aware that its chairman “may have falsified bank […]

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Icon Funds Investigation

May 24, 2012

Salas Wang LLC is announcing its investigation into Icon Funds, specifically Icon Fund Eleven and Icon Fund Twelve.    Investors in Icon may have lost over 80% of their principal in the investment.  We believe stockbrokers have been selling this investment to individuals that should not be investing in these funds. For example, Icon Fund […]

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Inland American – SEC Probe – Salas Wang Investigation

May 11, 2012

The Wall Street is reporting that the SEC is investigating Inland American Non-Traded REIT.  Our firm has been investigating shareholder claims against brokers who sold shares to investors for sometime.  This recent SEC action, we believe, is the culmination of years of abuse.  According to the WSJ: The SEC is looking at activity of Inland […]

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UBS Exchange Traded Funds Suitability

May 2, 2012

The Financial Industry Regulatory Authority recently fined UBS because: FINRA found that from January 2008 through June 2009, the firms did not have adequate supervisory systems in place to monitor the sale of leveraged and inverse ETFs, and failed to conduct adequate due diligence regarding the risks and features of the ETFs. As a result, […]

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Merrill Lynch ETF Losses?

May 2, 2012

The Financial Industry Regulatory Authority recently fined Merrill Lynch because: FINRA found that from January 2008 through June 2009, the firms did not have adequate supervisory systems in place to monitor the sale of leveraged and inverse ETFs, and failed to conduct adequate due diligence regarding the risks and features of the ETFs. As a […]

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Morgan Stanley Exchange Traded Fund Fraud?

May 2, 2012

The Financial Industry Regulatory Authority recently fined Morgan Stanley because: FINRA found that from January 2008 through June 2009, the firms did not have adequate supervisory systems in place to monitor the sale of leveraged and inverse ETFs, and failed to conduct adequate due diligence regarding the risks and features of the ETFs. As a […]

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Citigroup Global Markets – Exchange Traded Funds Misconduct

May 2, 2012

The Financial Industry Regulatory Authority recently fined Citigroup Global Markets because: FINRA found that from January 2008 through June 2009, the firms did not have adequate supervisory systems in place to monitor the sale of leveraged and inverse ETFs, and failed to conduct adequate due diligence regarding the risks and features of the ETFs. As […]

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LPL Financial Smacked For Tenant-in-Common Investments

February 15, 2012

According to a recent article in The Investment News, LPL Financial was just hit with a$1.4 million award for selling Tenant-in-Common investments, commonly known as TICs, to an elderly couple.  According to the elderly couple’s attorney: There was a fraudulent picture painted of investors receiving monthly income checks from the properties . . . That […]

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Did You Lose Money Through Peregrine Financial Group?

February 15, 2012

Salas Wang LLC is investigating claims against Peregrine Financial and its introducing  brokers, Clash Financial LLC , Oxford Trading Group, California Capital Trading Group LLC, and Patriot Financial Markets LLC.  The National Futures Association fined Peregrine because, according to the NFA’s complaint, its introducing brokers: routinely recommended trades and trading strategies that maximized commissions without regard for the best interests […]

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State of the Union Promises Immigration Reform

January 25, 2012

In the 2008 election, President Obama promised to tackle Immigration reform in his first year as president.  In 2012, we have just minor changes.  With the presidential election less that 10 month away, the President is reaching out to Congress once again to fix our immigration policies.  President Obama, in the State of the Union […]

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