Wall Street Journal
Arbitrators in disputes between investors and brokers will get more pay for their work, the brokerage industry’s self-regulator decided Thursday, people familiar with the matter said. Lawyers and arbitrators hope the pay rise, the first in 14 years, will attract more–and more skilled–arbitrators. The Financial Industry Regulatory Authority Inc., which oversees the arbitration process, approved […]
Wall Street Journal
Under pressure from Washington to crack down on rogue stockbrokers, the Financial Industry Regulatory Authority is highlighting a fast-track program it began earlier this year to go after what it calls “high-risk brokers.” The results: Forty-two of the most troubled brokers were targeted for “expedited investigation,” and 16 of them were thrown out of the […]
Reuters
There are no second acts in American life unless you are a stock broker. Then, there can be third and fourth acts, too. Some brokers who get fired have no trouble getting a new job the next day. Others move from firm to firm, despite having regulatory troubles or mounting complaints from customers. They may […]
Los Angeles Business Journal
More than a Decade after bond he sold started going bad, former Wedbush Securities Inc, broker Michael Farah finally cashed in, winning more than $4 million from his former employer last month. It’s a rare case, not only because of the size of the award and the years it took to win it, but also […]
Reuters
A range of solutions has emerged for dealing with a growing problem of brokerages that skip out on paying arbitration awards they owe to investors. Each, however, is far from perfect The Financial Industry Regulatory Authority (FINRA), Wall Street’s self-funded regulator, is evaluating whether it needs to address an issue that some investor advocates say […]