Wall Street Journal
Big investors aren’t the only ones getting burned by mortgage investments. Some brokerage firms who put their customers in risky mortgage investments now have small investors fighting to get their money back. That includes customers of Irvine, Calif., brokerage firm Brookstreet Securities Corp., which shut down last month after the value of some of its […]
Investment News
An NASD arbitration panel found A.G. Edwards & Sons Inc. liable for $258,300 for failure to properly supervise broker Robert Canfield. In 2004, Stephen Sokol attended an A.G. Edwards seminar, after which Mr. Sokol opened an account with A.G. Edwards and transferred in a number of securities purchased at another brokerage firm including a variable […]
Wall Street Journal
Legislative momentum may be building for a change in the way investors can resolve disputes with their brokers. Last week, three U.S. senators spoke out to urge the Securities and Exchange Commission to make arbitration between investors and brokers voluntary. The issue may come up at a House Financial Services Committee oversight hearing in late […]
Dow Jones Newswires
By Jaime Levy Pessin A Dow Jones Newswires Column NEW YORK (Dow Jones)–One aspect of mandatory arbitration for brokerage customers that is a flash point for criticism is the industry arbitrator. Arbitration hearing panels are made up of three people: two public arbitrators, who are supposed to be unaffiliated with the brokerage industry, and one […]
Dow Jones Newswires
By Jaime Levy Pessin A Dow Jones Newswires Column NEW YORK (Dow Jones)–Arbitration was supposed to be a quick and easy way for investors to settle disputes with brokerage firms. Nowadays, that’s not always the case. In one pending arbitration case, the defense attorneys filed a motion that included 85 pages of panel decisions to […]