A variable annuity is a type of security offered by insurance companies. The purchaser pays a “premium” which is invested, tax deferred, in one or more securities sub-accounts (each sub-account corresponds to a different mutual fund option). [1] After a certain period of time has passed, the purchaser has the option of…
In the volatile biotechnology sector, it is common for a company’s stock price to soar when news breaks that the company has received approval from the FDA to launch a new drug. For most of these companies, however, FDA approval is just the first step on a long journey, and history teaches us…
When a broker fails to execute a buy or sell order from a customer, the broker may be liable to the customer under several different legal theories, including negligence, breach of fiduciary duty, and/or breach of contract. Negligence “A duty of reasonable care applies to the broker’s performance of its obligations…
Illiquid alternative investments have been a cause of particular concern for securities regulators and watchdogs in recent years. Among the products that have garnered the most notoriety are non-traded Real Estate Investment Trusts (“REITs”), non-traded Business Development Corporations (“BDCs”), and oil and gas private placements. Non-Traded REITs A REIT is an investment…