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Arbitration Filing Rise in Grim Market

Los Angeles Times

Arbitration claims against brokerage firms jumped sharply in April, signaling what may be the start of a long-awaited surge in litigation after the last year’s brutal stock market decline. Investors filed 581 arbitration claims last month, up 55% from 374 in April 2000, the National Assn. of Securities Dealers said Friday. The 2,137 cases filed […]

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Going After Your Broker. NASD Arbitration Claims Rise with Market Drop

CBS Marketwatch

It happened to Ben Affleck, and to Matt Damon, too. Investment losses. They hurt, and they often spawn a rash of lawsuits waged at financial advisers. If you just reviewed your finances for the past year, paid your taxes, and realized how bad off your portfolio really is, you’re not alone. If you’re looking for […]

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NASD Issues E-Brokerage Investor Protections Regulation

Los Angeles Times

The National Assn. of Securities Dealers unveiled guidelines Tuesday that could force online brokerages to determine whether certain investments their clients make are suitable for them. But some critics said the guidelines don’t go far enough to protect do-it-yourself investors. At issue is whether online brokers are doling out investment recommendations and, therefore, must screen […]

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Online Firms Seen Swapping Arbitration for Mediation

Financial Net News

Attorneys and arbitration pros say that Ameritrade, TD Waterhouse and E*Trade Securities are shifting strategies for resolving customer disputes and are pushing cases into mediation rather than trying to litigate them via arbitration. “In the beginning, [E*Trade] absolutely refused to mediate, now they are mediating everything,” said one California mediator, noting that the online giant […]

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The Boston Group and Founder Robert Diminico Found Liable and Ordered to Pay

PR Newswire

A National Association of Securities Dealers (NASD) arbitration panel found The Boston Group and its founder Robert Diminico liable and ordered them to pay a total of $400,000, which included a $300,000 award of punitive damages to compensate Jim Oliver, a Nebraska investor. At the arbitration, Mr. Oliver proved that the Boston Group and Mr. […]

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