LAWSUITS NEWS & LEGAL INFORMATION
Stock Broker Legal News Articles & Interviews
June 7, 2016. By Heidi Turner.
Washington, DC: Morgan Stanley has been ordered to pay $8.6 million in a stockbroker arbitration claim that alleged unauthorized trading. The award was given to Denis Doyle, who filed the Financial Industry Regulatory Authority (FINRA) arbitration after his accounts experienced a drastic decline in value. Although FINRA typically does not comment on its rulings, according to The Wall Street Journal (6/3/16), the panel cited financial elder abuse when it awarded $2 million in punitive damages.Read [ Morgan Stanley Ordered to Pay $8.6 Million ]
February 17, 2016. By Heidi Turner.
Washington, DC: The Financial Industry Regulatory Authority (FINRA) has barred two brokers from the securities industry after finding the brokers guilty of fraud related to their sale of the Prestige Wealth Management Fund, LP. The brokers reportedly consented to the entry of FINRA’s findings but neither admitted nor denied the claims of stockbroker fraud.Read [ FINRA Bars Two Stockbrokers ]
December 10, 2015. By Heidi Turner.
West Palm Beach, FL: A FINRA arbitration panel has ordered a securities firm, the founder of the firm and a broker to pay almost $2 million to investors who alleged they were victims of stockbroker fraud and churning. The Financial Industry Regulatory Authority (FINRA) issued the ruling after investors claimed the firm, its founder and a broker violated the Florida Uniform Fraudulent Transfer Act.Read [ FINRA Orders $1.9 Million Paid to Victims of Stockbroker Fraud ]
October 29, 2015. By Heidi Turner.
Washington, DC: The Financial Industry Regulatory Authority (FINRA) has ordered more fines be paid out linked to the sale of Puerto Rico bonds. The fines were handed out after allegations were made that certain financial institutions failed to properly supervise employees trading bonds in Puerto Rico and allegedly downplayed the risks associated with the bonds. Additionally, FINRA has handed out other fines linked to stockbroker fraud in its stockbroker arbitration hearings.Read [ FINRA Orders More Fines Linked to Puerto Rico Bonds ]
August 18, 2015. By Heidi Turner.
Read [ FINRA Hands Out $2.3 Million Judgment against Morgan Stanley ]
Jackson, MS The Financial Industry Regulatory Authority (FINRA) has ordered Morgan Stanley to pay $2.3 million to investors, after the investors alleged in a stockbroker arbitration that the financial firm did not properly oversee its brokers, allowing mismanagement of investor accounts. Investors further alleged in their stock arbitration that the brokers engaged in misconduct in handling investments.
June 5, 2015. By Heidi Turner.
Read [ FINRA Orders Millions in Stockbroker Arbitration Rulings ]
Washington, DC Two recent FINRA (Financial Industry Regulatory Authority) stockbroker arbitration rulings have seen FINRA panels award millions of dollars to investors who complained about stockbroker fraud or unsuitable investments. One of the stockbroker arbitration complaints was decided against UBS, while the other was decided against Goldman Sachs.
April 13, 2015. By Heidi Turner.
Read [ Could Rule Change Stop Stockbroker Fraud? ]
Washington, DC Investors who feel they have been victims of stockbroker fraud can make their case in stockbroker arbitration, filed with the Financial Industry Regulator Authority (FINRA). But some critics of the stockbroker industry say stockbrokers should be subject to stricter rules concerning how they advise clients. As too many investors know, when a stockbroker’s advice is bad, lifesavings can be lost.
April 6, 2013. By Gordon Gibb.
Read [ Stock Broker Fraud Case “One of the Worst Cases of Churning Ever Seen” ]
Nacogdoches, TX A semi-retired logger and lumber company owner is alleged to have lost about $1 million dollars in his investment account due to stock broker fraud, Reuters reported in January. Brokers working on behalf of Oppenheimer & Co. (Oppenheimer) are alleged to have participated in excessive trading, or “churning,” in order to earn more commission dollars for themselves, and for Oppenheimer.
March 5, 2013. By Heidi Turner.
Read [ Schwab Wins Arbitration Approval ]
New York, NY It might seem odd for the Financial Industry Regulatory Authority (FINRA) to fight against a clause requiring FINRA arbitration over lawsuits in any disputes, but that is exactly what FINRA has done. The organization lost its initial bid against Charles Schwab, who moved to have its customers agree to arbitration over a lawsuit when disputes arise. Although FINRA’s argument was heard by one of its own panels, the panel found in favor of Schwab.
February 19, 2013. By Heidi Turner.
Read [ Stockbroker Arbitration: The Good and the Bad ]
Boston, MA When investors sign up with an investment advisor, they usually sign a contract requiring that in the case of a dispute with their advisor, they go through stockbroker arbitration to settle the dispute. The Financial Industry Regulatory Authority (FINRA) stockbroker arbitration process is designed to resolve claims such as stockbroker fraud and other disagreements between investment advisors and their clients. But some critics argue the arbitration process is flawed and does not always help victims of stockbroker investment fraud.
- When Stockbroker Fraud Involves Elder Abuse By Heidi Turner (Jan-17-13)
- REIT Unsuitability Violations: Interview with Attorney Christopher Gray By Heidi Turner (Jan-11-13)
- Stockbroker Arbitration: FINRA Clarifies Suitability Rule By Heidi Turner (Dec-19-12)
- Court Backs Stockbroker Arbitration Ruling By Heidi Turner (Nov-16-12)
- Stockbroker Arbitration Leads to $1.3 Million Judgment Against Merrill Lynch By Heidi Turner (Oct-20-12)
- Investment Fraud Scheme Not Quite Put to Bed Yet By Gordon Gibb (Sep-18-12)
- Allegations of Stockbroker Fraud in Colorado By Heidi Turner (Aug-20-12)
- Family Awarded $1.4 Million in Stock Broker Arbitration Case By Gordon Gibb (Jul-17-12)
- Lawsuits Filed Against JPMorgan, MF Global By Heidi Turner (Jun-13-12)
- Bizarre Tales of Stock Broker Fraud By Gordon Gibb (May-15-12)
- Stockbroker Arbitration Results in $1.5 Million Award By Heidi Turner (Apr-24-12)
- Stock Broker Fraud Case Nets $1.375 Million By Gordon Gibb (Mar-14-12)
- Great Atlantic Group President Found Guilty in Stock Fraud Case By Charles Benson (Feb-14-12)
- A New Year, a New Twist on Stock Broker Fraud By Gordon Gibb (Jan-11-12)
- Raymond James Pays Highest Award in Its Stockbroker Arbitration History By Heidi Turner (Dec-15-11)
- Supreme Court Ruling Affects Stockbroker Arbitration By Heidi Turner (Nov-16-11)
- Medical Executives Accused of Stock Fraud, Forgery By Charles Benson (Oct-13-11)
- FINRA Stockbroker Arbitration Changes May Be Good for Investors By Heidi Turner (Sep-14-11)
- Stockbroker Arbitration: Investors File Arbitration Claims to Recover Money By Heidi Turner (Aug-16-11)
- Jury Finds Former CEO Guilty in $110 Million Stock Fraud Case By Charles Benson (Jul-20-11)
- Stockbroker, Businessman Caught Up in Stock Fraud Sting By Gordon Gibb (Jul-5-11)
- Stock Fraud Charges Leveled against Advisers across the Country By Charles Benson (Jun-24-11)
- Stock Broker Arbitration: Brokers Accused of Misconduct By Heidi Turner (Jun-12-11)
- Nine Indicted on Charges of Stock Broker Fraud By Gordon Gibb (Jun-3-11)
- Former Nebraska Broker Pleads No Contest to Charges of Stock Fraud By Charles Benson (May-22-11)
- Employees File Stockbroker Arbitration Claims By Heidi Turner (May-12-11)
- Stock Broker Embezzled $1.5 Million from In-Laws By Gordon Gibb (May-8-11)
- Securities Suits Still Going Strong at White Law Group By Brenda Craig (May-1-11)
- Florida Man Receives Prison Sentence for Stock Fraud By Charles Benson (Apr-25-11)
- Citigroup Ordered to Pay Record Amount in Stockbroker Arbitration By Heidi Turner (Apr-15-11)
- Did Stockbroker Mismanagement Lead to Investor's Death? By Gordon Gibb (Apr-7-11)
- Former Florida Businessman to Be Sentenced on Stock Fraud Charges By Charles Benson (Mar-25-11)
- Stockbroker Arbitration Results Mixed By Heidi Turner (Mar-18-11)
- Stock Broker Arbitration Plaintiff Granted Small Victory By Gordon Gibb (Mar-7-11)
- Indiana Woman Sentenced to Home Detention for Stock Fraud By Charles Benson (Feb-23-11)
- Stock Broker Arbitration and Asset Auctions: Two Ways to Recover Money By Heidi Turner (Feb-16-11)
- Yonkers Stockbroker Tied to Alleged $30 Million Stock Broker Fraud By Gordon Gibb (Feb-6-11)
- Kansas Man to Serve Jail Time for Stock Broker Fraud By Charles Benson (Jan-27-11)
- Stock Broker Arbitration Yields Award for Claimants By Heidi Turner (Jan-19-11)
- Denver Man Sentenced to 40 Years for Stock Broker Fraud By Gordon Gibb (Jan-10-11)