Wall Street Journal
Under pressure from Washington to crack down on rogue stockbrokers, the Financial Industry Regulatory Authority is highlighting a fast-track program it began earlier this year to go after what it calls “high-risk brokers.” The results: Forty-two of the most troubled brokers were targeted for “expedited investigation,” and 16 of them were thrown out of the […]
Reuters
There are no second acts in American life unless you are a stock broker. Then, there can be third and fourth acts, too. Some brokers who get fired have no trouble getting a new job the next day. Others move from firm to firm, despite having regulatory troubles or mounting complaints from customers. They may […]
Los Angeles Business Journal
More than a Decade after bond he sold started going bad, former Wedbush Securities Inc, broker Michael Farah finally cashed in, winning more than $4 million from his former employer last month. It’s a rare case, not only because of the size of the award and the years it took to win it, but also […]
Reuters
A range of solutions has emerged for dealing with a growing problem of brokerages that skip out on paying arbitration awards they owe to investors. Each, however, is far from perfect The Financial Industry Regulatory Authority (FINRA), Wall Street’s self-funded regulator, is evaluating whether it needs to address an issue that some investor advocates say […]
Wall Street Journal
Bambi Holzer spent decades as a financial broker to Hollywood’s rich and famous, dispensing advice from her offices in Beverly Hills, California. She wrote best-selling financial self-help books and frequently appeared on television. But she also had another claim to fame: reaching the top 10 among 550,000 brokers with the highest number of customer complaints, […]