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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...   |
On Wall Street
February 1, 2013
Alan J. Foxman |
Proposed FINRA Procedures May Let Brokers Expunge Records Advisors may be able to erase mark against them from disputes in which they were not directly named. |
Registered Rep.
June 19, 2012
Diana Britton |
Whose Suitability Standards? In early 2011, the SEC completed a study, mandated under Dodd-Frank reform legislation, which recommended extending to brokers who advise retail clients the same fiduciary standard that now applies to investment advisors. |
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. |
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
March 1, 2010
Alan J. Foxman |
When Is A Blog Really An Ad? Readers write in with regulatory questions that affect financial firms and advisors. |
Investment Advisor
September 2009
Thomas D. Giachetti |
Expert's Corner: It Beats Getting Sued What every investment advisor should know about securities arbitration. |
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.
October 1, 2006
Ann Therese Palmer |
Agent or Fiduciary? Q: I underwent a grueling arbitration hearing this year. One point the complainant's attorney tried to make was that I had acted in a fiduciary capacity... A: The designation "fiduciary" used to mean something special in both the legal and the brokerage worlds... |
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. |
On Wall Street
February 1, 2010
Alan J. Foxman |
Advisor Sued When Market Is to Blame Legal experts answer questions from advisors who are being sued by clients who have lost money in the financial turmoil. |
On Wall Street
October 1, 2009
Alan J. Foxman |
Crossing the Line in Your Relationships with Clients Q&A: What privileges can a firm give a client?... Can a financial advisor borrow money from a bank that is a client?... Arbitration claims about promissory note... Must I tell my employer annuities I've sold through a third-party vendor?... |
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.
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, 2012
Alan J. Foxman |
Brokering the Commission Split Our legal analyst explores commission sharing and FINRA disclosure rules. |
On Wall Street
April 1, 2013
Alan J. Foxman |
Debunking Arbitration Rules Our legal expert discusses whether brokerage firms have to report arbitration actions against them. |
Investment Advisor
October 2010
Bob Clark |
The Empire Steps Up The Financial Planning Coalition's letter on the Securities and Exchange Commission's "Study Regarding Obligations of Brokers, Dealers and Investment Advisers" will knock your socks off. |
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.
March 1, 2006 |
Whose Lawyer Is It Anyway? Q: My firm and I have been named in an arbitration filed by a former client. The firm agreed to provide me with a lawyer who is representing it, too. Do I have any reason to be concerned about this joint representation?... A: This is the classic problem that many brokers face... etc. |
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. |
On Wall Street
March 1, 2013
Kenneth Corbin |
FINRA Cracks Down on Suitability Broker-dealers and advisors recommending complex, high-yield products to see more scrutiny. |
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
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... |
On Wall Street
November 1, 2009
Thomas Lewis |
It's Payback Time on Promissory Notes Firms have been fighting back against defecting advisors. Increasingly one of the most effective weapons in their arsenal is the enforcement of promissory notes. |
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.
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. |
On Wall Street
June 1, 2009
Alan J. Foxman |
Anyone Around Here Know a Good Lawyer? Financial advisors ask their legal questions. |
Registered Rep.
February 2, 2006
Kristen French |
Brokers Learning to Play by New Rules It's no longer business as usual on Wall Street. Starting yesterday, broker/dealers must follow a new SEC rule that requires them to disclose at certain times that they may not be acting in their clients' best interest. |
Registered Rep.
July 8, 2011
Diana Britton |
A Cautionary Tale: How One Arbitration Can Topple A Firm With small independent broker/dealers blowing up left and right, it's become that much more important to know what kind of compliance regime your firm has and who your colleagues are. |
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. |
On Wall Street
September 1, 2010
Mark Astarita |
Denying Advisors A Legal Forum As part of the Dodd-Frank Wall Street Reform Act, Congress has given the SEC the authority to prohibit or impose conditions upon the use of pre-dispute arbitration agreements by brokerage firms and federally registered investment advisors. |
On Wall Street
December 1, 2009
Alan J. Foxman |
Don't Ask, Don't Bill Q&As: FINRA arbitration... Can a former client who made money sue a firm?... |
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.
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.
October 19, 2007
Karen Donovan |
Don't Settle With Regulators--Litigate, Says Sutherland Et Al. (That Figures, Regulators Retort: Lawyers Would Say That) You may lose in arbitration, but the punishment may be less than you would have received in a settlement. |
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.
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. |
Financial Planning
April 1, 2005
Steven K. McGinnis |
Tin Shields As investor lawsuits mount, errors and omissions insurance has become harder to get--and easier to lose. |
Registered Rep.
April 8, 2005
John Churchill |
`Merrill Rule' Debate Not Over The SEC unanimously voted to allow Series 7 holders, or registered reps, to position themselves as financial advisors -- with certain caveats. But once again the SEC seemed to hedge its bet. So the debate rages on. |
Investment Advisor
February 2008
Thomas D. Giachetti |
Is an IPS the Answer? Investment Policy Statements can be helpful, but remember, longer documents aren't always better. |
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.
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.
May 1, 2004
Bill Singer |
It's Your Call Always Far too many reps are learning the hard way how little responsibility clients shoulder when it comes to assessing the suitability of their investments. |
On Wall Street
September 1, 2011
Alan J. Foxman |
To Share Or Not to Share (Revenue) I'm preparing to merge my small brokerage firm with a registered investment adviser. Do we have to wait for FINRA approval before we can close the transaction? |
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.
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. |
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. |
Financial Planning
October 1, 2011
Jennifer Woods Burke |
The Risk of Hide and Seek Advisors are often guiding clients through financial nightmares rather than living their own. But a FINRA enforcement action this year demonstrates how easily your career can slip away if you don't properly disclose financial troubles. |
Registered Rep.
April 15, 2015
Megan Leonhardt |
Regulators Concerned B/Ds Recommending Unsuitable Products to Seniors With seniors more dependent than ever on their investments for retirement, regulators have found a number of broker/dealers may have recommended unsuitable products and not adequately disclosed risks. |
