The Public Investors Advocate Bar Association (PIABA), a trade group representing plaintiffs' lawyers, has urged the Securities and Exchange Commission (SEC) to take action against the "broken" arbitration system used by investors bringing claims against registered investment advisers (RIAs).
Fewer investors have been filing arbitration claims to recover their investment losses. However, industry experts anticipate that the case count may climb, if not skyrocket, later this year due to recent market volatility.
The Financial Industry Regulatory Authority (FINRA) intends to amend its rules to permit expedited arbitration cases for parties who are 75 or older or are seriously ill.
A Georgia Superior Court judge has vacated an arbitration award that Wells Fargo had obtained nearly 3 years ago involving a client who sued the firm for mismanaging his account and, in doing so, has rocked the industry with sweeping, serious allegations of misconduct and conspiracy.
Stephens, Inc. has won nearly $18.2 million in an arbitration claim against Benjamin Edwards & Company over the raiding of an Arkansas branch.
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The Financial Industry Regulatory Authority (FINRA) has censured and fined Cetera Financial Group $1.1 million after identifying supervisory system and anti-money laundering (AML) failures across several subsidiary broker-dealers.
The Commodity Futures Trading Commission (CFTC) plans to develop new regulations governing the growing prediction markets industry, Chairman Michael Selig announced, signaling a shift in regulatory strategy.
A phishing incident involving an Ameriprise Financial advisor potentially exposed the personal information of hundreds of clients, according to a disclosure posted by the Maine Attorney General’s office.
