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The system of mandatory arbitration of disputes between brokerage firms and customers is again in the news. This time the North American Securities Administrators Assocation, Inc. has been lobbying the SEC to act on its authority under Dodd-Frank to end or limit the use of pre-dispute mandatory arbitration agreements included in virtually all customer agreements […]
More than $241 million of structured notes tied to Apple structured products face losses after a 27 percent drop in the stock of the world’s most valuable company eroded built-in cushions that protect investors. This significant decline not only highlights the volatility inherent in tech stocks but also raises concerns for investors who rely on […]
Beverly Hills based securities lawyers have launched an extensive investigation into the sales practices of LPL Financial, LLC regarding the recommendation of non-traded REITs to their clients. This investigation is critical as it follows a recently filed complaint by the Commonwealth of Massachusetts Securities Division, which delves into similar non-traded REIT sales practices. The Massachusetts […]
InvestmentNews reports a significant development in the financial industry: the Financial Industry Regulatory Authority Inc. (FINRA) has now opened its arbitration system to registered investment advisers (RIAs). This move marks a notable expansion of FINRA’s arbitration services, which have traditionally been utilized for resolving investor or industry complaints involving securities firms and broker-dealers. The announcement […]
New rules that could require certain brokers to act in the best interests of clients should enhance laws already in place for some financial advisers, a coalition of investor advocacy and trade groups wrote late on Thursday. The letter to Securities and Exchange Commission Chairman Mary Schapiro from groups that include the Consumer Federation of […]