It has been reported that the Secretary of State of Georgia, who regulates stockbrokers, is investigating whether securities laws were violated by the sale of reverse convertible notes to Georgia investors. According to a July 21, 2011 report in Bloomberg, the Secretary has issued subpoenas to UBS AG, Morgan Stanley, and Ameriprise Financial Inc. in order […]
UBS, Bank of America, Citigroup—Investigated for Manipulation of LIBOR
Recent reports reveal that UBS, Bank of America (BOA), and Citigroup are under investigation by the SEC and U.S. Department of Justice for allegedly manipulating the London Interbank Offered Rate, known as LIBOR. LIBOR is the most widely used benchmark for short-term interest rates. Manipulation of Libor is hugely consequential since it is a benchmark […]
CWA Retiree’s Investment Nightmare A Cautionary Tale for Members Taking Lump Sum Pensions
Brian Smiley mentioned in Communications Workers of America Like many CWA members, Gwen Sims had a lump sum pension option, and she chose the cash payout instead of a monthly pension benefit when she retired from Bell South in 2000 at age 50.
