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Los Angeles Times
The securities industry’s arbitration process has long been viewed as a small investor’s last resort to press grievances against a broker. But some investors are discovering to their dismay that arbitration is a two-way street: Brokerage firms also can bring claims against them–often with painful financial results for investors. This has been a particular surprise […]
USA Today
NEW YORK – In the wake of the stock market collapse, angry investors across the USA are filing complaints and arbitration claims against their stockbrokers, blaming them for losses that in some cases wiped out retirement nest eggs. The surge in complaints is not restricted to small, fly-by-night brokerage firms, but also involves large companies. […]
Los Angeles Times
Arbitration claims against brokerage firms jumped sharply in April, signaling what may be the start of a long-awaited surge in litigation after the last year’s brutal stock market decline. Investors filed 581 arbitration claims last month, up 55% from 374 in April 2000, the National Assn. of Securities Dealers said Friday. The 2,137 cases filed […]
CBS Marketwatch
It happened to Ben Affleck, and to Matt Damon, too. Investment losses. They hurt, and they often spawn a rash of lawsuits waged at financial advisers. If you just reviewed your finances for the past year, paid your taxes, and realized how bad off your portfolio really is, you’re not alone. If you’re looking for […]
Los Angeles Times
The National Assn. of Securities Dealers unveiled guidelines Tuesday that could force online brokerages to determine whether certain investments their clients make are suitable for them. But some critics said the guidelines don’t go far enough to protect do-it-yourself investors. At issue is whether online brokers are doling out investment recommendations and, therefore, must screen […]