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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A recent academic study reveals that thousands of brokers expelled from the securities industry for misconduct nonetheless continue to operate under state insurance licenses, often selling annuities and other financial products to unsuspecting clients.
The Financial Industry Regulatory Authority (FINRA) has launched a targeted investigation into broker-dealer firms that helped small foreign companies go public in the U.S., marking its latest move to combat pump-and-dump schemes.
The Financial Industry Regulatory Authority (FINRA) has barred former Edward Jones representative Robert David Bienvenu for refusing to provide requested information and documents related to outside accounts and investments.
