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.
You were most helpful with my FINRA deposition. You are a good lawyer and a good person.
Two former Morgan Stanley advisors in Hackensack, New Jersey have defeated Morgan Stanley’s initial effort to block them from soliciting clients, according to an August 15 order from New Jersey Superior Court.
Federal prosecutors have accused Mihir Deepak Sukthankar, a California resident once celebrated as a teenage trading “prodigy,” of orchestrating a multi-million-dollar Ponzi scheme.
An LPL Financial broker in Elizabethtown, Kentucky, has agreed to sanctions after FINRA found he violated Regulation Best Interest (Reg BI) when recommending unsuitable investments to an elderly customer.
