The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida. The firm is dedicated to assisting investors who have suffered investment losses as a result of their financial advisor or broker-dealers’ fraud or negligence.
We are currently [...]
The Securities and Exchange Commission (SEC) recently announced that it has censured Gilman Ciocia and its Prime Capital Services unit for misrepresenting the variable annuities sold to senior citizens in South Florida.
In an order, the SEC found that from approximately November 1999 through February 2007, Prime Capital Services, a broker-dealer that Gilman Ciocia acquired in [...]
There are many different types of variable annuity contracts, but these variable annuity contracts are typically not different in the benefits to the investor, but rather in the compensation to the financial advisor selling the annuity. While all variable annuity contracts offer tax deferral and other guarantees that only annuities can offer, the primary [...]
The Financial Industry Regulatory Authority (FINRA) announced in April that it has fined Fifth Third Securities, Inc., (FTS) of Cincinnati, OH, $1.75 million for a series of violations related to variable annuity sales and exchanges. FINRA found that Fifth Third Securities made 250 unsuitable sales and exchanges to 197 customers through 42 individual brokers. FINRA [...]
The Financial Industry Regulatory Authority (FINRA) recently announced that it has fined five bank broker-dealers a total of $1.65 million for deficient supervision and procedures related to variable annuity (VA), mutual fund or unit investment trust (UIT) transactions.
Brokers at each of the firms operated out of branches of affiliated banks, selling VAs, mutual funds [...]
If you have a life insurance or annuity contract, you may have been approached by your broker or financial advisor to exchange the annuity or policy for a “new model,” one that is allegedly better or that has newer features that weren’t available when you purchased your annuity. Although your broker will likely sell you [...]