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Registered Rep.
April 1, 2008
John Churchill |
The Failure Chain Consider the curious and rather grotesque case of Gary J. Gross, a financial advisor from Boca Raton, Fla. Gross' U4 is close to 100 pages long, and lists 35 customer complaints.   |
Registered Rep.
September 23, 2008 |
SEC Charges Miami Broker Gary Gross Gary Gross has been charged with fraud by the SEC for selling his elderly clients unsuitable investments. |
Registered Rep.
July 23, 2007
Kevin Burke |
Ex-Merrill Broker Wins $1.6 Million in Rare Arbitration Award An NASD arbitration panel awarded a former Merrill Lynch broker $1.6 million for wrongful termination and defamation, claims he had filed against his former employer. |
Registered Rep.
September 25, 2007
Karen Donovan |
Expunging Customer Complaints Is Too Easy . . . So Say Client Lawyers The lobbying group of lawyers who represent customers in disputes with their brokers is calling on FINRA and the SEC to "immediately halt" the practice that allows arbitration panels to expunge customer complaints from a rep's record. |
Registered Rep.
February 19, 2010
Christina Mucciolo |
FINRA Seeks to Expand BrokerCheck, Make Some Records Permanent The Financial Industry Regulatory Authority announced it is seeking the SEC's approval to expand the amount of information made public on current and former brokers' permanent records in its free online CRD database, BrokerCheck. |
Registered Rep.
February 11, 2010
Halah Touryalai |
Victory For Broker in Citi Bonus Repayment Case A former Citi broker doesn't have to pay back the full amount owed on his sign-on bonus, a FINRA arbitration panel rules. |
On Wall Street
September 1, 2010
Alan J. Foxman |
Ponzi Schemes And Problems Paying Fines Q&A: What does it mean for advisors that records are now available to the general public online?... How will arbitration payments I must make but cannot afford right now affect my license?... more... |
Registered Rep.
February 1, 2003
Ross Tucker |
Legal Briefs? Not In 2002 Well before the year ended, 2002 was poised to set NASD arbitration records -- but not the kind of records many would be proud of. |
Registered Rep.
August 16, 2006
Karen Donovan |
Put It in Writing: Investors Want Arbitrators to Explain Their Awards Lawyers who represent investors in securities arbitrations hope that a proposed NASD rule -- which would give them the option of demanding written explanations from arbitration panels that hear their disputes against brokerage houses -- will take effect soon. |
Registered Rep.
February 11, 2004
John Churchill |
Dueling Trend Lines on Complaints Brokers have become more attuned to investor complaints in recent years, but they must be forgiven if they're having a hard time drawing conclusions from the trend numbers reported by regulators. |
Registered Rep.
January 27, 2004
John Churchill |
New Rule Makes Clearing Your Record Harder Brokers can expect a new rule that will make removing customer complaints and disciplinary actions from their public records much more difficult. |
Registered Rep.
January 29, 2008
Kristen French |
Fuss Over Broker Expungement Continues The Public Investors Arbitration Bar Association recommends that the SEC and FINRA halt expungements, after a study finds that 98 percent of brokers seeking expungement in 2006 from an arbitrator got one. |
Registered Rep.
September 1, 2005 |
Expunge Bath I received customer letters, written after a nasty falling-out, that my firm said would appear on my internal U4, but not my public statement. Am I forever marked up, or can I get the letters off my record?... |
On Wall Street
October 1, 2008
Alan J Foxman |
Heightening Supervision Advisory firms have flexibility in creating plans to supervise brokers who have a history of complaints or disciplinary issues. |
Registered Rep.
August 1, 2005
Bill Singer |
The High Price of Foot Dragging Contesting arbitrations is often a smart move -- especially for financial reps who believe they were unjustly accused or that the settlement demanded by the customer is excessive. |
Registered Rep.
May 13, 2011
Bill Singer |
Blaming, Naming, and FINRA Gaming Suppose that an unhappy investor didn't specifically name you in a lawsuit or arbitration when he complained about your investing advice. You'd think that would get you off the regulatory disclosure hook, right? Think again. |
On Wall Street
October 1, 2008
Elizabeth Wine |
Jury of Their Peers Under a new arbitration program, investors will be able to choose to air complaints to a panel of regular people, without the token industry insider. So why are both sides of this issue unhappy with the plan? |
BusinessWeek
August 13, 2007
Lewis Braham |
Want To Take On Your Broker? Investors' odds have shrunk in recent years. Even if you win, don't expect a windfall. |
Registered Rep.
August 1, 2006 |
Unbreakable Promises Q: Isn't it standard in the industry to prorate notes over the entire period employed? Do we have any recourse?... A: It's way too late in the game for you to be wondering about how proration of promissory notes works in the industry... etc. |
On Wall Street
August 1, 2009
Helen Kearney |
Death Knell for Mandatory Arbitration The meltdown on Wall Street, along with the raft of Ponzi schemes, have created a renewed regulatory zeal on the part of the government towards financial advisors. This all begs a major question: Is this the end of mandatory arbitration? |
Registered Rep.
April 1, 2006 |
Mudslinger Stains Q: I've been a broker for 22 years and worked for two of the largest brokerage firms in the world. Several years ago, I received a phone call from a long-standing client, who'd received something strange in the mail... A: Document what is taking place... etc. |
On Wall Street
May 1, 2010
Alan J. Foxman |
Do You Always Have A Right To An Attorney In Arbitration? Q&A: Rights to attorneys in arbitration... Is giving the client a bond's rating enough when it comes to disclosing risks?... |
Registered Rep.
March 1, 2003
David A. Geracioti |
In the Crosshairs An army of lawyers are about ready to file suits on behalf of aggrieved retail investors who claim to have lost money because of the conflict-of-interest scandal. |
The Motley Fool
May 11, 2011
Selena Maranjian |
Sneak a Peek at Your Broker's Record Find out whether your broker has been in trouble. |
Registered Rep.
April 27, 2010
Halah Touryalai |
Judge Says Citi Brokers Must Repay Bonuses; Appeal Comes Next Former Citigroup brokers, who wanted courts to dismiss debts the firm said they owed on loans awarded when they were hired, were turned down by a district court judge. But they are planning to appeal that decision. |
On Wall Street
July 1, 2011
Alan J. Foxman |
The Perception Of Privacy Concerns about privacy... History of broker complaints... |
On Wall Street
December 1, 2008
Alan J Foxman |
Sipc Insures Select Cases Brokers are unsure what to tell clients about SIPC coverage, as well as the rationale on arbitration disputes. |
Registered Rep.
January 8, 2009 |
Motion To Dismiss In Arbitration? Not So Fast. Firms and advisors facing disputes in arbitration will have a tougher time getting the case dismissed thanks to a new dispute resolution rule, FINRA announced today. |
Registered Rep.
October 6, 2011
Andrew J. Haigney |
Opinion: FINRA Is an Ineffective Regulator FINRA, the brokerage industry's self-regulatory organization, finds itself in caught up in the industry's death spiral. This non-government, private corporation's fortunes are tied to brokerage firms. |
Registered Rep.
May 1, 2008
Karen Donovan |
The Clean Slate Club If a proposed new FINRA rule is adopted by the SEC, reps may find it harder to get potentially frivolous customer complaints wiped clean from their U4s. |
Registered Rep.
March 1, 2010
Halah Touryalai |
Bonus Repayment Suit Turns Into Battle Over Forced Arbitration A court case over the repayment of upfront loans to brokers is turning into a legal battle over forced FINRA arbitration. |
On Wall Street
June 1, 2009
Lauren Barack |
FINRA's Push for Greater Broker Oversight With the public's distrust of the financial community in overdrive, FINRA hopes to make disciplinary records permanently available on its BrokerCheck site. |
On Wall Street
November 1, 2008
Alan J Foxman |
Caught in the Middle In an arbitration lawsuit one advisor was named as respondent, one wasn't -- and now both have problems to deal with. |
Registered Rep.
October 1, 2002
Jonathan P. Arfa |
First, Hire the Lawyers With heavy investor losses, customer claims filed with the NYSE and the NASD are expected to hit an all-time high in 2002. What should a broker do if they are the target of a complaint? |
Registered Rep.
December 29, 2009
Halah Touryalai |
Principal-Protected Notes Not So Protected, FINRA Says. In a regulatory notice this month, FINRA warned firms offering structured products not to overstate their level of protection or their potential returns. |
Registered Rep.
March 1, 2008 |
Client Complaints: To Report Or Not To Report When a registered rep should report client complaints. |
BusinessWeek
August 16, 2004
Emily Thornton |
The Brokers Strike Back Wall Street to investors: Beware of suing your brokers -- they might just sue you back. |
Registered Rep.
October 23, 2003
John Churchill |
Edward Jones hit with $2.7 million fine One of the firm's brokers overloaded a client's account with unsuitable investments on margin. |
Registered Rep.
December 1, 2004 |
The Promise Keepers Is arbitration the answer to this broker's woe?... Should a former employer pay defense costs for broker being sued while employed with that firm?... |
Registered Rep.
October 17, 2011
Patrick J. Burns |
Don't Ignore That Promissory Note One of the trickiest components when it comes to a broker's departure from a wirehouse firm is how to handle the promissory note. |
On Wall Street
June 1, 2013
Alan J. Foxman |
When Settling a Suit Makes Sense Our legal expert discusses when settling an arbitration case saves time and money. |
On Wall Street
November 1, 2010
Alan J. Foxman |
Crime Versus Punishment Members of the financial services industry write in for advice and have their legal questions answered. |
On Wall Street
January 1, 2010
Alan J. Foxman |
Blamed for ARS He Didn't Sell Misrepresenting auction-rate securities... BrokerCheck public disclosure system... |
The Motley Fool
March 21, 2007
S.J. Caplan |
Check Out Your Broker A redesigned website tells you what you need to know before you invest. |
Registered Rep.
June 3, 2011
Diana Britton |
Another IBD Implodes, Victim to Private Placement Claims Independent broker/dealer Harrison Douglas Inc. has filed with the Financial Industry Regulatory Authority and the Securities and Exchange Commission to terminate its registrations and close the firm. |
Registered Rep.
November 8, 2011
Jerry Gleeson |
Auction Rate Revenge For tens of thousands of investors who were trapped in the auction rate securities debacle that started in 2008, finances are getting back to normal. |
Registered Rep.
January 1, 2008
David A. Geracioti |
Desperately Seeking Advisors For RR's 28th Annual Outstanding Advisor Awards Nominate a financial advisor for Registered Representative's annual Outstanding Advisor Award. |
Investment Advisor
March 2009
Melanie Waddell |
When It Pays to Fight City Hall An annual analysis of litigated disciplinary proceedings brought by the SEC and FINRA against broker/dealers and registered representatives shows that it sometimes pays for B/Ds and reps to litigate against the regulators. |
Registered Rep.
August 1, 2006
Gary Weiss |
Institutionalized Unfairness Here the author of Wall Street Versus America discusses how the mandatory arbitration of customer disputes must be made to go away. And not just because it hurts financial advisory customers. It hurts the financial advisor equally. |
On Wall Street
June 1, 2009
Alan J. Foxman |
Anyone Around Here Know a Good Lawyer? Financial advisors ask their legal questions. |
