Ignites
The number of arbitration claims filed with the Financial Industry Regulatory Authority has surged in the first seven months of 2009. Through July, investors filed 4,481 claims, as compared to 4,982 claims during all of last year. That’s a 71% increase in the number of new case filings over the same period in 2008, according […]
San Diego News Network
The widow of a San Diego resident who lost trust fund money in a retirement fund advertised as being low-risk, but that invested in mortgage-backed securities, was awarded $157,498 today by an arbitration panel. The Financial Industry Regulatory Authority awarded the Everett Ross family trust 100 percent of its losses plus expert witness costs. “Although […]The Tribune
Jeffrey Forrest can’t act as an investment adviser or work with broker-dealers A San Luis Obispo man charged with fraud by the U.S. Securities and Exchange Commission has been barred from acting as an investment adviser. Jeffrey Forrest, owner and principal of WealthWise LLC, will not be allowed to associate with any broker-dealer or be […]
Dow Jones
New details in the Brookstreet Securities Corp. case support investor advocates’ calls for lifting the curtain higher on details of brokers’ transactions, particularly how brokers are compensated and their use of margin accounts. The Securities and Exchange Commission on Thursday filed fraud charges against 10 former brokers for Brookstreet, an Irvine, Calif., brokerage that collapsed […]
Investment News
regulators say there is a shortfall of data for investors when it comes to such cases. Keeping track of rogue brokers is a tricky business, particularly when they leave or are booted from the confines of the securities industry, but keep peddling financial products. Take, for example, Jeffrey Forrest, who no longer sells securities through […]