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November 3, 2014

Posted  January 26, 2016

The SEC sanctioned 13 firms for violating a rule primarily designed to protect retail investors in the municipal securities market.  It related to improper sales in a $3.5B offering of junk bonds by the Commonwealth of Puerto Rico earlier this year.  The sanctioned firms include: Charles Schwab & Co., Hapoalim Securities USA, Interactive Brokers LLC, Investment Professionals Inc., J.P. Morgan Securities, Lebenthal & Co., National Securities Corporation,Oppenheimer & Co., Riedl First Securities Co. of Kansas, Stifel Nicolaus & Co.,TD Ameritrade, UBS Financial Services, and Wedbush SecuritiesSEC

Tagged in: Securities Fraud,