Securities Attorney

Banks’s Case Regarding FINRA Highlighted in Investment News

Bob Banks’s case is highlighted in a story in Investment News about the FINRA arbitration expungement process. Deleted: FINRA Erases Many Broker Disciplinary Records Investor Defender attorneys Robert S. Banks Jr. and Darlene Pasieczny have the experience, knowledge, and dedication to help you. Mr. Banks himself has over 30 years experience representing investors in recovering […]

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Form U5 Information Gets to BrokerCheck Faster with New FINRA Rule Change

Effective December 12, 2015, certain information provided on the registration termination paperwork (Form U5) for a brokerage firm or terminated broker will be accessible on BrokerCheck in 3 business days instead of 15. The SEC approved the proposed change to FINRA Rule 8312 (FINRA BrokerCheck Disclosure). The Form U5 includes important information for investors researching […]

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LPL Financial In Trouble Again For Improper Sales of Non-Traded REITs

The North American Securities Administrators Association (NASAA) announced Wednesday a settlement with brokerage firm LPL Financial. The settlement is the result of a multi-state investigation led by the Nevada Secretary of State Securities Division into LPL’s failure to implement adequate supervisory systems and failure to enforce its own written procedures regarding sales of non-traded REIT […]

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Banks Quoted in Investment News Article Regarding Expungement Language

Investor Defender attorney Robert S. Banks, Jr. was recently quoted by Investment News, in an article about FINRA arbitration expungement procedures. Expungement has been a controversial issue because brokers are routinely granted arbitration awards that allow them to expunge, or forever erase, customer arbitration complaints from their BrokerCheck records.  The FINRA board is scheduled to consider incorporating the […]

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FINRA Examines Conflict in Broker Compensation

As reported by Investment News recently, FINRA has sent letters to brokerage firms asking about Broker Compensation. The goal is to discourage firms from selling products that benefit the brokerage firm and the broker at the expense of the customer. I think FINRA enforcement staff would agree that investors expect their financial advisors (whether called registered […]

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Asset Allocation – The Life Raft in a Stock Market Storm

Stock Market Decline Should Not Rattle Investors Who Are Properly Asset Allocated Asset Allocation as a Predictor of Stock Performance The recent plunge in the stock market is grabbing headlines and making investors anxious. Most of the worrying should be unnecessary for moderate and conservative investors who use competent financial advisers, however. While no one […]

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FINRA Arbitration 101

Banks Speaks to DFCS About FINRA Arbitration Securities attorney Robert S. Banks, Jr. traveled to Salem, Oregon today to discuss FINRA arbitration with a select group of regulators at the Department of Finance and Corporate Securities (DFCS). Banks’ presentation detailed the arbitration process from start to finish. The presentation covered filing, discovery, arbitrator selection, and awards. He wrapped […]

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Investor Defenders

Events of Interest to Municipal Bond Investors

Most investors automatically equate a municipal bond investment with safety. Not so fast, investors. The Securities and Exchange Commission announced yesterday that it was filing and settling claims against 36 municipal bond offering companies. The SEC charged that the firms used offering documents that contained material false statements or omissions, and that the firms did […]

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