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PR Newswire
A National Association of Securities Dealers (NASD) arbitration panel found liable and ordered Merrill Lynch (NYSE: MER – news) to pay Patricia McNamara a total of $192,000 for the company’s breach of fiduciary duty and failure to supervise registered representative Robert Morgart in its Sante Fe, New Mexico office. In her claim, Patricia McNamara, a […]
Associated Press
A securities lawyer is facing off against the National Association of Securities Dealers, the brokerage industry’s self-regulatory group, over his plan to publish a directory of firms that would list disciplinary actions against them. The information already is available from the NASD’s Web site, but users can access the data only one firm at a […]
Wall Street Journal
I recently spent some 18 months sifting through the wreckage of a massive securities fraud. What I found was every investor’s scariest nightmare. Masquerading as a brilliant stock trader, Martin Frankel stole over $200 million, first from individual investors in Ohio, Florida and Texas and then from a chain of southern insurance companies he bought […]
PR Newswire
The Public Investors Arbitration Bar Association (PIABA), a nationwide bar organization of attorneys dedicated to the representation of individual investors in disputes with the securities industry, today announced its support for the Pension Protection and Diversification Act of 2001. The danger of over concentrating employee 401(k) plan assets in the stock of the employee’s company […]
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 […]