PR Newswire
The Public Investors Arbitration Bar Association (PIABA), a nationwide bar organization of attorneys dedicated to the representation of individual investors in disputes with the securities industry, today announced its support for the Pension Protection and Diversification Act of 2001. The danger of over concentrating employee 401(k) plan assets in the stock of the employee’s company […]
Compliance Reporter
The North American Securities Administrators Association is supporting a National Association of Securities Dealers’ rule proposal requiring court confirmation of arbitration panel orders for expunging broker information from the Central Registration Depository. Customer complaint information are state records and only courts can order such expungement, according to NASAA. The letter, signed by NASAA President Joseph […]
PR Newswire
Gene Hines, a 59 year old writer-producer filed an arbitration with the National Association of Securities Dealers against Merrill Lynch (NYSE: MER – news) alleging that his broker misled him in connection with the management of his retirement investments. Mr. Hines has alleged that in recommending the purchase of a variable annuity in his IRA […]
New York Times
In a television commercial, a client of Ameritrade (news/quote), the online brokerage firm, boasts to a co-worker that he paid 5 cents less a share for a stock they bought at the same time. Datek Online, a competitor, is advertising what it describes as its unparalleled speed. Even the New York Stock Exchange is telling […]
Compliance Reporter
The newly appointed president of the Public Investors Arbitration Bar Association, Philip Aidikoff, is prioritizing expungement and arbitrator classification. Aidikoff, partner at Aidikoff & Uhl in Beverly Hills, California, said he backs a National Association of Securities Dealers Notice to Members 01-65 to establish criteria for expunging items from the Central Registration Depository. Comments for […]