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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 […]
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 […]