Posts Tagged FINRA lawyer
Hooters Girls and Investment Fraud
Posted by admin in Fraud Recovery on May 14, 2013
The story written by Bruce Kelly of Investment News had all the makings of a tabloid scandal. Stockbrokers, forged documents, sexual harassment, an SEC investigation, Hooters girls and the misappropriation of customer funds from a prominent brokerage firm. The problem is that Kelly is a real journalist and the story he penned today about Commonwealth [...]
Stockbrokers Dont Want To Air Dirty Laundry – Stockbroker Fraud Post
Posted by admin in Fraud Recovery on March 24, 2013
by Brian Mahany We are firm believers in full and complete disclosure. Americans are smart enough to understand that not every complaint against a stockbroker is legitimate. Many complaints are unfounded or frivolous. But as customers and clients, we should have the right to know if other complaints are pending against a broker. Under a [...]
Zombie Stockbrokers – Land of the Living Dead – Stockbroker Fraud Post
Posted by admin in Fraud Recovery on March 12, 2013
by Brian Mahany Zombie horror is quite the rage these days in the entertainment industry. Movies, TV shows… even my local Barnes & Noble retailer has an entire section of books devoted to the living dead. While the zombies in the entertainment industry are imaginary, debarred stockbrokers and investment advisers really do come back from [...]
“Should I Stay or Should I Go” – FINRA’s New Suitability Rules (Stockbroker Fraud)
Posted by admin in Fraud Recovery on March 12, 2013
by Brian Mahany “One day is fine, next is black So if you want me off your back Well come on and let me know Should I stay or should I go? … If If I go there will be trouble An if I stay it will be double… Should I stay or should I go…” [...]
FINRA Arbitration Panel Slams Oppenheimer For Churning Customer’s Account
Posted by admin in Fraud Recovery on January 21, 2013
by Brian Mahany Although the stock market has been doing relatively well in recent months, not everyone makes money. For every winner there is a loser. For retired Texan Lloyd Gillespie, he was the big loser while Oppenheimer and his brokers were the winners. An arbitration panel from the Financial Industry Regulatory Authority (FINRA) agreed [...]
Merrill Lynch Ordered To Pay Couple $1.3 Million – Securities Fraud
Posted by admin in Fraud Recovery on October 17, 2012
by Brian Mahany Every week we scan the arbitration decisions published by the Financial Industry Regulatory Authority (FINRA). Never a week goes by without several brokers being held to task for hurting the very customers that hired them for their financial expertise. Many times the brokers worked for little boiler room operations that simply disappear [...]
Morgan Stanley Manager Claims He Was Fired For Being A Whistleblower
Posted by admin in Fraud Recovery on September 21, 2012
by Brian Mahany Unfortunately, story titles such as this one are all too common. Companies should welcome employees who are looking after the long term interests of the business and reporting internal wrongdoing. Unfortunately they often don’t, especially in the financial industry. According to published reports, a risk manager from Morgan Stanley Smith Barney claims [...]
Cal Appeals Court Helps Bad Brokers Hide Their Record From Investors
Posted by admin in Fraud Recovery on September 2, 2012
by Brian Mahany We have long been a fan of BrokerCheck, the free web based database that allows the public to see what type of complaint and disciplinary history their broker has. To be sure, the system has some flaws but it is still a great way to perform your own due diligence on stockbrokers. [...]
Bloomberg Column Calls For End FINRA Arbitration Panels
Posted by admin in Fraud Recovery on July 30, 2012
by Brian Mahany William Cohan, a journalist and author of a popular column on Bloomberg View, calls for the end of FINRA arbitration panels. For those readers not familiar with FINRA, the acronym stands for the Financial Industry Regulatory Authority. Virtually anyone who has opened a brokerage account has signed an agreement saying that all [...]
As The World Churns – FINRA Socks Stockbroker For $1.9 Million
Posted by admin in Fraud Recovery on July 17, 2012
by Brian Mahany Churning is a bad word in the securities industry. It happens when a stockbroker engages in excessive buying and selling of securities in a customer’s account. The motive is almost always high commissions. Each transaction generates a commission – the more turnover in an account the more the broker makes. (Investment advisers [...]
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