On March 25, the Public Investors Arbitration Bar Association (PIABA) released its study of confusing advertising messages by major broker-dealer firms like Allstate, UBS, Morgan Stanley, Berthel Fisher, Ameriprise Financial, Merrill Lynch, Fidelity Investments, Wells Fargo, and Charles Schwab. While these firms advertise that they put their clients’ interest first, excerpts from FINRA arbitration filings…
Continue reading ›Investor Choice. Since 1987, when the Supreme Court decided McMahon v. Shearson Lehman Brothers, investors have been denied their Constitutional right to a jury trial. Instead, if they have lost money through the fraud or negligence of a FINRA-licensed stockbroker, financial advisor or brokerage firm, investors are required to bring their cases through the FINRA…
Continue reading ›Investor Defender attorney Darlene Pasieczny was recognized recently at the 2013 Annual Meeting of the Public Investors Arbitration Bar Association (PIABA), in Orlando, Florida. Pasieczny was commended for her work on PIABA’s SRO Committee, which monitors FINRA and SEC arbitration rule-making proposals that are of significant interest to the PIABA membership and investing public. With…
Continue reading ›Sen. Edward J. Markey, D-Mass, who was instrumental in FINRA’s development of its BrokerCheck database and a proponent of investor protection, issued a letter today to FINRA’s Chairman Richard Ketchum and forwarded to SEC Chair Mary Jo White. Senator Markey’s letter criticizes improper expungement of arbitration awards from BrokerCheck records, a practice that the Public…
Continue reading ›
