securities law

Senators Seek to Protect Seniors Who Will Wealth to Brokers

After a Maryland financial advisor inherited $500,000 from an elderly client, lawmakers have asked the governing body of the securities industry, the Financial Industry Regulatory Authority (FINRA), to provide guidance over whether and how brokers can inherit wealth from customers, especially senior investors.

Do FINRA's Reforms Go Far Enough to Stop Bad Brokers?

FINRA has not only made it costlier for member-firms who hire bad brokers with a checkered past, but it also took over the duty of verifying that brokers provide accurate and truthful information on their employment history forms.

FINRA Disciplinary Actions Report: May 2018

Each month, 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. 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.

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.