Dow Jones Compliance Watch
The Financial Industry Regulatory Authority’s board next week will consider proposed changes intended to simplify the rules for investors selecting an arbitration panel. Finra, which oversees the arbitration forum, regularly contends with charges that the system favors brokerages, and has been making changes to help ensure a level playing field. The introduction in 2011 of […]
Reuters
The founder of a global medical device company who racked up personal losses of $1.4 million in a Goldman Sachs private debt fund is concerned about practices that may lure investors into securities that are riskier than sales pitches indicate. Richard Caruso, who launched Integra LifeSciences Holdings Corp in 1989, told Reuters he invested personal […]
InvestmentNews
Two notorious independent registered representatives who violated securities laws are hanging on to life in the financial advice industry, reinventing themselves as investment “teachers” or “wealth coaches.” The two former reps, Frank Bluestein and Jeffrey Forrest, sold, respectively, a Ponzi scheme and a risky hedge fund that wiped out tens of millions of dollars of […]
Reuters
Charles Schwab Corp. can ban its clients from bringing class-action lawsuits, a securities industry regulatory panel ruled Thursday in a sweeping decision that is likely to influence other U.S. brokerage firms to follow Schwab’s policy. Schwab last year told customers it was modifying their 8.8 million account agreements to prohibit class-action suits and to modify […]
ABCNews