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Finra gets arbitration process back on track in Puerto Rico
After several months of deliberations, Finra has expanded its pool of arbitrators and is ready to move forward with the hundreds of complaints related to collapses in Puerto Rico bond funds. That doesn't necessarily mean smooth sailing.
When a regulator like Rick Fleming sounds more like a politician, it could be a good thing
The new SEC investor advocate establishes the narrative with story about his upbringing.
Infographic: Meyers Associates' Finra BrokerCheck records
Last Friday, senior columnist Bruce Kelly reported on Meyers Associates, a firm that stands out for all the wrong reasons. InvestmentNews reviewed Finra records of 75 Meyers Associates brokers, and found that the percentage of registered representatives with a disclosure event is an astounding five
Recoupment of trainee fees impairs industry's growth
Brokerage firms that pursue reimbursement of training costs from employees who leave are out of step with today's workforce
Finra arbitrator removed for allegedly lying about credentials
A Finra arbitrator who served on Finra panels for almost 15 years was removed after it was discovered that he is not a lawyer. He oversaw more than 40 cases. Were yours among them?
Finra fines two IBDs owned by Ladenburg Thalmann a total of $1.275M
Triad Advisors, Securities America failed to supervise reps who created and sent inaccurate consolidated account statements to clients, regulator says.
SEC cost-benefit analysis turns up dearth of data on fiduciary rule
An indication by the Securities and Exchange Commission that it has failed to collect much data to gauge the potential impact of a rule to raise investment advice standards has fiduciary-duty advocates scratching their heads. The request for information that the SEC put out a year ago generated 225
Finra's BrokerCheck comes under fire
Database omits bankruptcies, tax liens, and other vital information, lawyers group claims
Finra arbitration panel tags Signator Investors for $1.6 million in selling-away case
Three clients of former broker at Hancock unit receive award for losses in failed land deals.
Finra arb panel sends reps a message
Steep punitive damages awarded to a client show that reps will be forced to pay heavily for their misconduct
Ex-Wells Fargo adviser wins nearly $1 million in promissory note quarrel
Wells Fargo sought $76,152 from a former broker, but in the end was ordered to pay the adviser more than 10 times that amount .
Finra fines, complaints drop as market improves
Finra reports that suitability fines and customer complaints have dropped as the financial crisis has faded further into the rearview. It's not all smooth sailing, however, as new regulatory priorities have emerged.
Finra fines Berthel Fisher $775,000 for compliance failures
Regulator said IBD didn't adequately train or supervise brokers selling alternative investments and nontraditional ETFs .
Finra agrees to dump expungement agreements
Rule change would stop brokers from placing conditions on settlements stipulating that customers agree not to oppose brokers' move to clear record.
Finra approves rule to redefine public arbitrators
Regulator will send a proposal to the SEC that could limit those with industry ties from serving on panels.
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February 27, 2014