FINRA Broker Disciplinary Action Report: June 2016

Each month and again on a quarterly basis, the agency that regulates the financial industry, FINRA (Financial Industry Regulatory Authority), produces a detailed report that runs down all disciplinary actions recently taken against brokerage firms and brokers. This long list of alleged wrongdoing and misconduct reads a lot like a police blotter. We strongly encourage any investor who suspects their broker and/or broker-dealer of having lost them money on dubious terms to at least skim this report to see if you recognize any names, schemes, products, or securities.

Pro Athletes Targeted by Ponzi Schemes

Professional athletes offer fraudulent advisors, brokers, friends, and family an irresistible target for their schemes. The typical pro athlete is young and, as an investor, woefully unsophisticated. They also have a lot of money which needs investing. No wonder every few months or even weeks, we read another story about pro athletes getting swindled.

Stock Broker Complaints - Your Best Defense

For years a battle has been waged between investors (and their advocates - ie, attorneys) and the broker-dealer industry over whether brokers have a fiduciary duty to their clients. A fiduciary duty is a legal obligation to act solely and faithfully in another’s best interest, typically a client’s best interest. Brokerage firms however will often insist, during a dispute over misconduct or malfeasance, that they do not have such a duty; that they are rather simply order-takers executing the wishes of their clients.

FINRA Broker Disciplinary Action Report March 2016

FINRA Broker Disciplinary Action Report March 2016


Each month and again on a quarterly basis, the agency that regulates the financial industry, FINRA (Financial Industry Regulatory Authority), produces a detailed report that runs down all disciplinary actions recently taken against brokerage firms and brokers. This long list of alleged wrongdoing and misconduct reads a lot like a police blotter. We strongly encourage any investor who suspects their broker and/or broker-dealer of having lost them money on dubious terms to at least skim this report to see if you recognize any names, schemes, products, or securities.

Lawsuits Mount over Investor Energy Stocks Losses

Lawsuits Mount over Investor Energy Stocks Losses

The latest stock market bubble burst has left many retail investors with serious losses in their retirement savings. Regulators and securities attorneys who specialize in finance and investing issues have noticed a huge uptick in lawsuits over losses due to overconcentration in the energy sector.

FINRA DECEMBER 2015 BROKER DISCIPLINARY ACTION REPORT

Each month and again on a quarterly basis, the agency that regulates the financial industry, FINRA (Financial Industry Regulatory Authority), produces a detailed report of disciplinary actions recently taken against brokerage firms and brokers. This list of alleged wrongdoing and misconduct reads a lot like a police blotter on money matters. We strongly encourage any investor who suspects their broker and/or broker-dealer of having lost them money on dubious terms to at least skim this report to see if you recognize any names, schemes, products, or securities.

Fidelity Fined for Fake Broker Who Defrauded Senior Investors

FINRA’s fine and demand for restitution, along with Lewis’ long prison sentence, sends a strong message that such failures by broker-dealers will not be tolerated. In today’s climate where protecting seniors has become paramount, we expect to see more and more of such regulatory actions.

What Investors Should Know about BrokerCheck

The Financial Industry Regulatory Authority (FINRA), the watchdog for the securities industry, operates a Yelp or Angie’s List-style database called BrokerCheck. This powerful resource compiles accreditation, work history, and perhaps most importantly customer dispute history on all 650,000 or so registered financial advisors in this country.

Regulatory Bodies Cast a Wary Eye on Structured Notes

The SEC’s Office of Compliance recently issued a Risk Alert concerning lapses in brokerage supervision and compliance controls on the sale of structured products - especially structured notes - to retail investors. Several months ago the SEC also issued a broader Investor Bulletin concerning structured notes. The Financial Industry Regulatory Authority (FINRA) has also repeatedly urged investors to be careful when considering structured products.