Reuters
It seems ironic that a federal agency with a longstanding mandate to protect investors would need a new advocate to do just that. Nonetheless, Rick Fleming, the first head of the U.S. Securities and Exchange Commission’s Office of Investor Advocate, is busy setting up shop, staffing a six-person office and setting priorities. The 2010 Dodd-Frank […]
Cardozo Journal of Conflict Resolution
On January 8, 2010, FINRA’s Investor Education Foundation awarded Pepperdine University School of Law’s Straus Institute for Dispute Resolution a grant of $250,000 to establish a comprehensive clinical education program in investor advocacy. In 2010, Robert Uhl was appointed as the first Director and as an adjunct professor at the Pepperdine University School of Law […]
St. John’s Law Review
Following the Enron and WorldCom scandals in 2001, public outrage over the lack of executive accountability led to the Sarbanes-Oxley Act of 2002 which required better public disclosure. Wall Street argued that this new disclosure standard would cause publicly traded companies to join foreign exchanges instead of United States based securities exchanges, and that this […]
New York Times
For years, regulators have typically pursued brokerage firms over the failure of investments they sold rather than going after individual stockbrokers, because the target was larger and the possibility of reaching a financial settlement was greater. Now, regulators are shifting their focus in their fight against fraud to encompass brokers. The shift comes even as […]
Reuters
A Beverly Hills, California, securities broker who advised Hollywood stars and racked up dozens of complaints from customers has been permanently barred from the securities business in a settlement with Wall Street’s industry-funded watchdog. Bambi Holzer, known for her frequent television appearances and also the 64 complaints customers filed against her since 1990, agreed to […]