The Securities and Exchange Commission (SEC) approved amendments to FINRA Rule 12403 (Cases with Three Arbitrators) of the Code of Arbitration Procedure for Customer Disputes (Customer Code) to increase the number of arbitrators on the public arbitrator list that FINRA sends to parties during the arbitration panel selection process from 10 to 15. The amendments […]
Aidikoff, Uhl & Bakhtiari partner Philip M. Aidikoff has been invited to participate as a speaker at the 2016 Public Investors Arbitration Associate Bar Association (PIABA) conference program on Thursday, October 27, 2016 and Friday, October 28, 2016. Mr. Aidikoff’s panel is entitled “Hearing Strategy as Seen by Respondent Counsel”. This panel will include leading […]
The Securities and Exchange Commission today announced fraud charges against an investment adviser accused of “cherry-picking” profitable trades for his own account rather than a client’s accounts, and misleading seniors and other clients about the fees he charged and the risks in investments he recommended. The SEC Enforcement Division alleges that Laurence I. Balter and […]
On September 28, 2016, the U.S. Securities & Exchange Commission announced that it had imposed severe monetary penalties on UBS Financial Services in connection with the firm’s activities involving nearly $10.7 billion of stock-linked reverse convertible notes (“RCNs”) that had been sold to approximately 44,000 customer accounts between 2011 and 2014. (“In the Matter of […]
Aidikoff, Uhl & Bakhtiari announces the filing of a FINRA arbitration seeking more than $1.1 million and its continuing investigation of the sales practices of Mark Heiden for his management of client accounts and the overconcentration of energy related stocks investments: Energy XXI Bermuda Ltd. Clearbridge American Energy MLP Goldman Sachs MLP Energy Arch Coal […]