A review of SEC and securities enforcement actions this week.
Tag: suitability
This Week In Securities Litigation (Week ending December 6, 2013)
Tagged with: Conflicts of interest, Insider trading, investment fund fraud, secactions, suitability, supervision
SEC PREVAILS ON SUMMARY JUDGMENT IN MARKET CRISIS CASE
The Commission prevailed on its motion for summary judgment in a market crisis case based on the sale of risky collateralized mortgage obligations or CMOs to unsuitable retail customers. Ultimately investors suffered significant losses from the purchases and the broker’s …
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