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Money Magazine
Greed is not good if it means the broker wins, not you. Here’s what you can do. By Ellen McGirt with Kate Ashford, George Mannes and Pat Regnier, MONEY Magazine NEW YORK (MONEY Magazine) – Unlike, say, salespeople in a clothing store, brokers are obligated to see that what they sell fits you — your […]
Wall Street Journal
Chicago Stockbroker Michael Noble is the subject of a $2 million arbitration claim against his former employer Credit Suisse First Boston by investors who blame him and the firm for their stock losses. It is unlikely, however, the complaint will ever show up in a public database that logs customer beefs against securities dealers — […]
Naples Daily News
All licensed stockbrokers have a report card of sorts. In theory it’s supposed to give investors a place to go for some unvarnished background: criminal records, disciplinary infractions, firings, customer complaints, civil judgments and bankruptcies, to name a few. A Naples investor gave his broker and firm a big black mark in July when an […]
Wall Street Journal
On Wall Street, hawking hedge funds has become hugely profitable. But a recent arbitration award against Canadian Imperial Bank of Commerce shows the downside for brokerage firms that market these lightly regulated investment vehicles. A three-person arbitration panel this month ordered the bank’s brokerage arm, CIBC World Markets, to pay almost $3.6 million to 11 […]
PR Newswire
An NASD arbitration panel found American Express Financial Advisors, a division of American Express (NYSE: AXP), liable for $649,612 for failure to properly supervise Los Angeles area broker Edward Torres. On Friday, February 18, 2005, the NASD panel awarded $490,612 in compensatory damages and $159,000 in punitive damages to retired El Paso, Texas residents Pat […]