Financial Advisor
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 records has […]
InvestmentNews
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 […]
Los Angeles Times
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 linked to the popular Vix […]
Pepperdine University School of Law
In 2010, the Financial Industry Regulatory Authority (FINRA) Investor Education Foundation awarded Pepperdine University School of Law’s Straus Institute for Dispute Resolution a grant to establish a comprehensive clinical education program in investor advocacy. The Clinic represents all of its clients on a pro-bono basis. The Investor Advocacy Clinic is the only FINRA funded Clinic […]
Bloomberg
Parties involved in FINRA arbitration with claims of $50,000 or less may soon get the option of an expedited, time-limited hearing via phone, according to a status report released Feb. 8. The proposed Special Proceeding for Simplified Arbitration was based on a recommendation by the FINRA Dispute Resolution Task Force to develop an intermediate form […]