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Published: May 2011
How safe are your savings?
Investors will continue to be preyed upon as long as brokers, banks and insurers are allowed to place profits above the best interests of their clients, finds a new report by Demos.
Demos has released a new study by John Wasik on the structural risks that complex derivatives pose to retirement funds. The report details how banks and brokers sold more than $52 billion of these "structured notes" - including at least $32 billion by the top banks alone - in 2010. Investors' complaints caused the number of arbitration cases to double in 2009 over the previous year, according to the Financial Industry Regulatory Authority (FINRA), which has jurisdiction over these products.
Click here to download the report.
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