Compliance Reporter
The North American Securities Administrators Association is supporting a National Association of Securities Dealers’ rule proposal requiring court confirmation of arbitration panel orders for expunging broker information from the Central Registration Depository. Customer complaint information are state records and only courts can order such expungement, according to NASAA. The letter, signed by NASAA President Joseph […]
PR Newswire
Gene Hines, a 59 year old writer-producer filed an arbitration with the National Association of Securities Dealers against Merrill Lynch (NYSE: MER – news) alleging that his broker misled him in connection with the management of his retirement investments. Mr. Hines has alleged that in recommending the purchase of a variable annuity in his IRA […]
New York Times
In a television commercial, a client of Ameritrade (news/quote), the online brokerage firm, boasts to a co-worker that he paid 5 cents less a share for a stock they bought at the same time. Datek Online, a competitor, is advertising what it describes as its unparalleled speed. Even the New York Stock Exchange is telling […]
The Spokesman-Review.com
Investors cry foul as money vanishesYour money: Record wave of stock traders taking brokers to arbitrationDeborah Lohse – Knight Ridder Denise Day knew she needed help managing $1.4 million in cash and stock options she received in her divorce. So, like many investors, she turned to a broker for advice. Just over a year later, […]
Money Magazine
WHEN OVERZEALOUS BROKERS MET NEWLY MINTED INVESTORS IN THE LONG BULL MARKET, FORTUNES WERE MADE AND LOST IN AN INSTANT. NOW EVERYONE’S POINTING FINGERS OVER THE MISSING MONEY. Since stocks peaked in March of last year, investors in the U.S. market have lost $4 trillion in paper wealth. That’s an awful lot of money, and […]