How Widespread and Predictable is Stock Broker Misconduct?
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Fiduciary Duties and Non-traded REITs
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How Widespread and Predictable is Stock Broker Misconduct?
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Fiduciary Duties and Non-traded REITs
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Securities-Based Lending
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An Empirical Analysis of Non-Traded REITs
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Ex-post Structured Product Returns: Index Methodology and Analysis
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The Priority Senior Secured Income Fund
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Large Sample Valuations of Tenancies-in-Common
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Structured Certificates of Deposit: Introduction and Valuation
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Using EMMA to Assess Municipal Bond Markups
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Are VIX Futures ETPs Effective Hedges?
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Securities-Based Lending
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An Empirical Analysis of Non-Traded REITs
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Ex-post Structured Product Returns: Index Methodology and Analysis
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The Priority Senior Secured Income Fund
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Large Sample Valuations of Tenancies-in-Common
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Structured Certificates of Deposit: Introduction and Valuation
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Trigger Yield Optimization Notes linked to Apple Inc
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SuperTrack Notes linked to the iShares MSCI Emerging Markets Index Fund
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Reverse Convertible Notes linked to Apple Inc
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Buffered PLUS linked to the iShares MSCI Brazil Index Fund
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ELKS linked to AMR Corp.
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Reverse Convertible Notes linked to Apple, Inc.
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Trigger Yield Optimization Notes linked to Alpha Natural Resources, Inc.
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Trigger Phoenix Autocallable Optimization Securities linked to Apple Inc.
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Trigger Yield Optimization Notes linked to Apple Inc
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SuperTrack Notes linked to the iShares MSCI Emerging Markets Index Fund
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Reverse Convertible Notes linked to Apple Inc
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Buffered PLUS linked to the iShares MSCI Brazil Index Fund
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ELKS linked to AMR Corp.
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Reverse Convertible Notes linked to Apple, Inc.
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Securities Litigation
and Consulting Group

Securities Litigation and Consulting Group, Inc ("SLCG") is a financial economics consulting firm based in the Virginia suburbs outside of Washington, DC. SLCG was founded in 2000 by Craig McCann, PhD, CFA to provide finance, economics and investment management consulting. Dr. McCann has 20 years experience analyzing investments in academia, government and private industry. Over the years, SLCG's staff has grown to include PhD, MA and BA level professionals with academic, industry and government experience.

SLCG provides consulting services and expert witnesses to law firms, publicly-traded corporations, banks, brokerage firms and individuals involved in complex litigation throughout the United States. Our litigation projects include securities class actions, trust management and brokerage industry disputes, white collar criminal proceedings and regulatory investigations. Our experts have testified in state and federal court and in various arbitration forums.

In the News

The Wall Street Journal, April 22, 2016 - "Is Your Broker Good or Bad?"
Jason Zweig's "The Intelligent Investor: Is Your Broker Good or Bad?" in this weekend's Wall Street Journal reports on recent published literature on broker misconduct. His article cites SLCG's recently completed analysis of 1.2 million BrokerCheck records. Craig McCann, Mike Yan and Chuan Qin are the principal authors of the study. Their findings are reported in How Widespread and Predictable is Stock Broker Miscond ...
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Financial Times, September 3, 2015 - "Market woes prompt regulator to warn on securities-based loans"
Ben McLannahan and Joe Rennison's "Market woes prompt regulator to warn on securities-based loans" quotes SLCG's Paul Meyer on the conflicts of interest involved in brokerage firms' extension of securities-based loans. Paul is quoted as saying "While securities-based lending is a low risk and very profitable business for the broker-dealer, the same cannot be said for the borrower. Broker-dealer l ...
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Neue Zurcher Zeitung (The New Zurich Times), August 23, 2015 - "UBS's Costly Puerto Rican Adventure"
Sophie Schimansky's "UBS's Costly Puerto Rican Adventure" reviews the UBS debacle in Switzerland's largest German-language newspaper. The article can be downloaded here. The article quotes SLCG's Craig McCann (bio here) on the devastating impact UBS's conflicted sale of closed end funds and on the high ...
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The Wall Street Journal, August 11, 2015 - "Puerto Rico Investors Win Relief From UBS"
Mike Cherny's "Puerto Rico Investors Win Relief From UBS" in the Wall Street Journal reports on a string of arbitration wins by UBS PR customers over the sale of leveraged closed end bond funds. The WSJ article cites SLCG's analysis of the UBS PR funds and quotes Craig McCann. ...
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Reuters June 9, 2015 - "Non-traded REITs cost investors $50 billion: consultant"
Ross Kerber and Suzanne Barlyn's "Non-traded REITs cost investors $50 billion: consultant" reports the result of SLCG's non-traded REIT research. In "An Empirical Analysis of Non-Traded REITs" (paper available here), Brian Henderson, Joshua Mallett, and Craig McCann found that the non-traded REIT ...
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Federal Judge Hands Down 10-Year Sentence To Former Chief Accounting Officer For Beazer Homes USA, Inc.
In April 2015, a federal judge in Charlotte, NC handed down a 10-year prison sentence to the former Chief Accounting Officer of Beazer Homes for accounting fraud and obstruction of justice. Dr. O'Neal testified about the losses Beazer Homes shareholders incurred due to the fraud. The Judge adopted Dr. O'Neal's event-study calculations and rejected the competi ...
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Reuters, February 18, 2015 - "Interactive Brokers must pay $667,000 for portfolio selloff mishap -panel"
In "Interactive Brokers must pay $667,000 for portfolio selloff mishap -panel" Suzanne Barlyn reports on a $667,000 FINRA award against Interactive Brokers arising out of its alleged failure to auto-liquidate a hedge fund account in a commercially reasonable manner. The article quotes Craig McCann who testified about the defects of IB's auto-liquidation procedures and on damages ...
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Wall Street Journal, January 14, 2015 - Katy Burne and Aaron Kuriloff "Regulators Want Data on Bond-Trade Fees, SEC, Others Scrutinize Markups Paid by
In Regulators Want Data on Bond-Trade Fees, SEC, Others Scrutinize Markups Paid by Retail Bond Investors Katy Burne and Aaron Kuriloff report on continued efforts by regulators to improve transparency in the municipal bond market and thereby reduce the extraordinary undisclosed markups and markdowns dealers charge retail investors. The article cites SLCG's comprehensive study ...
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