Aidikoff, Uhl & Bakhtiari is an “AV” rated law firm with a worldwide practice representing individuals and institutions in disputes with Wall Street and the financial services industry. Attorneys for the firm regularly appear before the Financial Industry Regulatory Authority (FINRA) which was created in 2007 through the consolidation of the National Association of Securities Dealers (NASD) and New York Stock Exchange (NYSE) enforcement and arbitration divisions, as well as in numerous state and federal courts to resolve financial disputes between customers, employees, banks, brokerage firms, insurance companies and other members of the financial services industry.
Members of the national and local press have covered our attorneys on securities arbitration and securities litigation issues, some of which can be found at this site under the In The News section.
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- Finra’s Proposed Ban On Expungements No Surprise
- This week, Finra proposed a rule that would prohibit brokers from removing customer complaints and certain arbitrations that are more than a year old. The action by Finra addresses a growing number of brokers who are asking to have old complaints erased. As Financial Advisor reported in July, the number of brokers seeking to clean up old disciplinary ...
- Wedbush Securities, once again, in trouble with regulators
- From time to time, this column focuses on firms and individuals in the investment advice business who continue to screw up — those who seem destined to repeat the past and harm investors, damage their own reputations or both. It can be maddening. Watch the financial advice business long enough, and the same questions arise […]
- Wells Fargo ordered to repay customers who lost money on complex securities
- An investment industry regulator has ordered Wells Fargo to pay $3.4 million to brokerage customers who lost money buying complicated securities that even Wells Fargo brokers didn’t fully understand. The Financial Industry Regulatory Authority, or Finra, said Monday that some Wells Fargo representatives mistakenly thought a kind of complex security ...
- Volatility Trade Losses - VIX, XIV, SVXY, ZIV, VMIN
- In the last few years volatility has been the hottest trade on Wall Street. Banks have cobbled together investments linked to volatility in the stock market, these products have grown in size. Now with the most recent downturn in the markets investors face stiff losses as a result of a moment in the VIX.
- Asset Allocation
- Asset allocation involves dividing an investment portfolio among different asset categories, such as stocks, bonds, and cash. The recent market volatility has exposed imprudent allocations in accounts that have resulted in significant losses to many investors. When asked about why account values have dropped, brokers often respond by blaming it on the market instead of recognizing that inappropriate allocations are actually to blame.
- LJM Preservation and Growth Fund Losses
- LJM Partners, a Chicago-based hedge fund, suffered losses on spiking volatility, a trade that has claimed more than one scalp in the last few trading days. Their mutual fund, known as the LJM Preservation and Growth Fund, collapsed by 82 percent over the last week and was closed to new capital on Wednesday.