Articles Posted in Finance

This past Thursday, the same day I posted about a recent FINRA Investor Alert regarding cryptocurrency, there was a new press release from the North American Securities Administrators Association (NASAA) with further guidance on the same topic. NASAA’s analysis and warning amounts to this:  Initial Coin Offerings (“ICOs”), and all other investment products related to…

On December 21, 2017, the Financial Industry Regulatory Authority (FINRA) announced it had fined brokerage firm Raymond James Financial Services, Inc. $2 million for significant supervisory failures in reviewing email communications. FINRA found that, over a nine-year period, Raymond James did not have a reasonably designed supervisory system and procedures for reviewing email communications. Why…

It’s a new year and you’re looking to hire a broker or investment advisor to help you with your financial planning and investment decisions. What questions should you ask at that first meeting? FINRA recently released an Investor Education top 5 questions to ask: 1. What experience do you have working with people like me?…

As part of the “National Senior Investor Initiative”, in 2013 FINRA and the SEC conducted 44 examinations of brokerage firms that focused on how firms conduct business with senior investors (defined as age 65 and older) as they prepare for and enter retirement.  A newly issued report gives the results. The exams found that among…

We are sometimes asked whether FINRA arbitrations are public.   Anyone can go to a courthouse and observe a hearing or trial unless there are good reasons for the court to order the proceeding closed to the public. However, FINRA arbitration hearings are private proceedings.   That means that only the parties and their attorneys, expert witnesses…

Robert S. Banks, Jr. was appointed by the Oregon Division of Finance and Corporate Securities to the Rule Advisory Committee for a proposed Crowdfunding exemption in Oregon. The first meeting is being held on October 20, 2014 in Salem. Any interested citizens should feel free to contact Mr. Banks with their comments or concerns about…

Investors wary of a broker’s self-interest in selling commission-based products may look to change to a fee-based advisory account. Rather than charging a commission for each transaction, fee based accounts typically charge an annual fee based on total account value. However, while a broker might “churn” an account in commission situations by inappropriately purchasing securities…

(June 2) Rising costs of doing business, pressure on margins, and demographic changes are likely to benefit larger Registered Investment Advisor firms in the next few years, according to industry forecasts. The 19,000 RIA firms in the United States look to be increasingly dominated by perhaps 150 of the biggest firms, each of them with…