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Articles Posted in Inverse ETFs

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FINRA Fines And Suspends Former Wells Fargo Broker, Jeffrey D. Daggett For Unsuitable Recommendations Of Exchange Traded Notes, Triple-Leveraged ETFs, And Triple Inverse ETFs

On June 29, 2015, Jeffrey D. Daggett (“Daggett”) submitted a Letter of Acceptance, Waiver, and Consent (“AWC”) to settle allegations made by the Financial Industry Regulatory Authority, Inc. (“FINRA”)  The FINRA AWC alleged that Daggett, while registered with Wells Fargo Advisors, LLC made numerous unsuitable recommendations of exchange traded products…

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SEC Publishes Its Requests for Industry Comment Regarding Its Regulation of Exchange Traded Products

On June 12, 2015, the Securities and Exchange Commission (“SEC”) solicited public comment on its approval and regulation of exchange traded products (“ETPs”).  ETPs are similar to open-ended mutual funds, but can be bought and sold throughout the day at market prices, rather than net-asset value.  ETPs include, but are…

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LPL Financial LLC Violates FINRA Supervision Rules During Its Expansion

On May 6, 2015, LPL Financial LLC (“LPL”) submitted a Letter of Acceptance, Waiver and Consent (“AWC”) to the Financial Industry Regulatory Authority’s (“FINRA”) Department of Enforcement to settle allegations that LPL violated FINRA supervisory rules.  The AWC was submitted “without admitting or denying the findings,” and on the condition…

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