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Apr 9, 2025

Inland American REIT Under SEC Investigation

According to the Wall Street Journal, the Securities and Exchange Commission is investigating Inland American Real Estate Trust (Inland American REIT) for potential violations of federal securities laws. According to the report, the SEC is looking at activity of Inland American REIT to determine if the REIT committed violations related to management fees, the timing and amount of distributions paid to investors, and transactions with affiliates.

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Apr 9, 2025

SEC Investigates Inland American Real Estate Trust

Inland American Real Estate Trust Inc. is being investigated by the Securities and Exchange Commission according to that firm’s quarterly report. The SEC’s investigation is reportedly focusing on fees. Inland American is the industry’s largest non-traded real estate investment trust, and has $11.2 billion in real estate assets. Inland American is one of five REITs sponsored by The Inland American Real Estate Group of Companies Inc.

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Apr 9, 2025

Elder Financial Abuse Epidemic Not Only in Florida But Nationwide

Elder financial abuse is an “epidemic” and likely to become much worse given that 77 million baby boomers are entering their so-called “retirement” years (See “Golden years? Financial elder-abuse now epidemic,” Andrew Osterland, InvestmentNews). Between 500,000 and 5 million elders are abused, neglected or exploited each year, and the abuse is often unreported. “Elders can be afraid to report abuse, for a variety of reasons,” one practitioner was quoted as saying, adding: “In many cases, they may depend on the abuser and fear reprisals from them. They may be afraid of being placed in a nursing home or dread the stigma of domestic violence.”

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Apr 9, 2025

Meyers Associates LP Subpoenaed by Massachusetts Regulators over Sales of Alternative Investments to Seniors

Meyers Associates LP was subpoenaed by Massachusetts in connection with a sweep investigation, which is looking into sales practices involving alternative investments sold to seniors. Meyers Associates LP’s principal office is located in New York, New York. On July 10, 2013, the state’s securities division sent the subpoena to Meyers Associates LP asking for information on sales of the products to state residents who are 65 or over. Some of the non-traditional investments include oil and gas partnerships, private placements, structured products, hedge funds, and tenant-in-common offerings. The state demanded information from Meyers Associates LP on any such products that have been sold over the past year, the investors who purchased them, the commissions generated, how the sales were reviewed, and all relevant compliance, training and marketing materials – Meyers Associates LP has until July 24 to respond. The state added that being on the list of targeted firms does not indicate wrongdoing.

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Apr 9, 2025

Investors Capital Corp. Subpoenaed by Massachusetts Regulators over Sales of Alternative Investments to Seniors

Investors Capital Corp. was subpoenaed by Massachusetts in connection with a sweep investigation, which is looking into sales practices involving alternative investments sold to seniors. Investors Capital Corp.’s principal office is located in Lynnfield, Massachusetts. On July 10, 2013, the state’s securities division sent the subpoena to Investors Capital Corp. asking for information on sales of the products to state residents who are 65 or over. Some of the non-traditional investments include oil and gas partnerships, private placements, structured products, hedge funds, and tenant-in-common offerings. The state demanded information from Investors Capital Corp. on any such products that have been sold over the past year, the investors who purchased them, the commissions generated, how the sales were reviewed, and all relevant compliance, training and marketing materials Investors Capital Corp. has until July 24 to respond. The state added that being on the list of targeted firms does not indicate wrongdoing.

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Apr 9, 2025

ING Financial Partners Subpoenaed by Massachusetts Regulators over Sales of Alternative Investments to Seniors

ING Financial Partners, Inc. was subpoenaed by Massachusetts in connection with a sweep investigation, which is looking into sales practices involving alternative investments sold to seniors. ING Financial Partners’ principal office is located in Des Moines, Iowa. On July 10, 2013, the state’s securities division sent the subpoena to ING Financial Partners asking for information on sales of the products to state residents who are 65 or over. Some of the non-traditional investments include oil and gas partnerships, private placements, structured products, hedge funds, and tenant-in-common offerings. The state demanded information from ING Financial Partners on any such products that have been sold over the past year, the investors who purchased them, the commissions generated, how the sales were reviewed, and all relevant compliance, training and marketing materials – ING Financial Partners has until July 24 to respond. The state added that being on the list of targeted firms does not indicate wrongdoing.

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Apr 9, 2025

Fidelity Brokerage Services Subpoenaed by Massachusetts Regulators over Sales of Alternative Investments to Seniors

Fidelity Brokerage Services LLC was subpoenaed by Massachusetts in connection with a sweep investigation, which is looking into sales practices involving alternative investments sold to seniors. Fidelity Brokerage Services’ principal office is located in Smithfield, Rhode Island. On July 10, 2013, the state’s securities division sent the subpoena to Fidelity Brokerage Services asking for information on sales of the products to state residents who are 65 or over. Some of the non-traditional investments include oil and gas partnerships, private placements, structured products, hedge funds, and tenant-in-common offerings. The state demanded information from Fidelity Brokerage Services on any such products that have been sold over the past year, the investors who purchased them, the commissions generated, how the sales were reviewed, and all relevant compliance, training and marketing materials – Fidelity Brokerage Services has until July 24 to respond. The state added that being on the list of targeted firms does not indicate wrongdoing.

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Apr 9, 2025

Commonwealth Financial Network Subpoenaed by Massachusetts Regulators over Sales of Alternative Investments to Seniors

Commonwealth Financial Network was subpoenaed by Massachusetts in connection with a sweep investigation, which is looking into sales practices involving alternative investments sold to seniors. Commonwealth Financial Network’s principal office is located in Waltham, Massachusetts. On July 10, 2013, the state’s securities division sent the subpoena to Commonwealth Financial Network asking for information on sales of the products to state residents who are 65 or over. Some of the non-traditional investments include oil and gas partnerships, private placements, structured products, hedge funds, and tenant-in-common offerings. The state demanded information from Commonwealth Financial Network on any such products that have been sold over the past year, the investors who purchased them, the commissions generated, how the sales were reviewed, and all relevant compliance, training and marketing materials – Commonwealth Financial Network has until July 24 to respond. The state added that being on the list of targeted firms does not indicate wrongdoing.

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Apr 9, 2025

Charles Schwab & Co. Subpoenaed by Massachusetts Regulators over Sales of Alternative Investments to Seniors

Charles Schwab & Co., Inc. was subpoenaed by Massachusetts in connection with a sweep investigation, which is looking into sales practices involving alternative investments sold to seniors. Charles Schwab & Co.’s principal office is located in San Francisco, California. On July 10, 2013, the state’s securities division sent the subpoena to Charles Schwab & Co. asking for information on sales of the products to state residents who are 65 or over. Some of the non-traditional investments include oil and gas partnerships, private placements, structured products, hedge funds, and tenant-in-common offerings. The state demanded information from Charles Schwab & Co. on any such products that have been sold over the past year, the investors who purchased them, the commissions generated, how the sales were reviewed, and all relevant compliance, training and marketing materials – Charles Schwab & Co. has until July 24 to respond. The state added that being on the list of targeted firms does not indicate wrongdoing.

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Apr 9, 2025

Merrill Lynch Subpoenaed by Massachusetts Regulators over Sales of Alternative Investments to Seniors

Merrill Lynch was subpoenaed by Massachusetts in connection with a sweep investigation, which is looking into sales practices involving alternative investments sold to seniors. Merrill Lynch’s principal office is located in New York, New York. On July 10, 2013, the state’s securities division sent the subpoena to Merrill Lynch asking for information on sales of the products to state residents who are 65 or over. Some of the non-traditional investments include oil and gas partnerships, private placements, structured products, hedge funds, and tenant-in-common offerings. The state demanded information from Merrill Lynch on any such products that have been sold over the past year, the investors who purchased them, the commissions generated, how the sales were reviewed, and all relevant compliance, training and marketing materials – Merrill Lynch has until July 24 to respond. The state added that being on the list of targeted firms does not indicate wrongdoing.

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