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Reuters
The long-time head of the Financial Industry Regulatory Authority’s arbitration unit will retire, the Wall Street watchdog said on Wednesday. Linda Fienberg, who joined FINRA’s predecessor organization, the National Association of Securities Dealers, in 1996, will step down from her post at the end of November, according to a statement from FINRA. A successor has […]
Los Angeles Times
Wade Bradley sells the Hollywood dream. But unlike the stories on screen, the ending isn’t always happy, some of his investors claim. Bradley’s Media Society Inc. solicits wealthy people to invest in a slate of independent films that it produces and distributes through a subsidiary, with the minimum investment set at $150,000. If the movies […]
InvestmentNews
The Securities and Exchange Commission will not act until at least this fall on a Finra proposal that would limit the number of people who qualify as public arbitrators to settle investor disputes. On July 3, the Financial Industry Regulatory Authority Inc. published the rule in the Federal Register. At that point, the SEC had 45 days to make […]
FINRA
The Financial Industry Regulatory Authority (FINRA) announced today the formation of a 13-member Arbitration Task Force to consider possible enhancements to its arbitration forum to improve the transparency, impartiality and efficiency of FINRA’s securities arbitration forum for all participants. “FINRA’s mission is to protect investors and support their confidence in the capital markets,” said Richard […]
Reuters
This is the case of a securities broker who spent nine years depositing his client’s dividend checks into his personal account before the situation caught up to him. For financial advisers, it’s a cautionary tale: If something doesn’t smell right, it will eventually draw attention. Richard Harvey Peress deposited 37 quarterly dividend checks totaling $11,460 […]