Policy

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Rutgers Securities Litigation and Enforcement

April 02, 2014  |   Posted by :   |   Policy, Stockbroker Fraud News   |   0 Comments

Securities Arbitration Outline The outline contains citations to certain cases and statutes, which do not appear in the Casebook, but which are available on Lexis. The NASD Discovery Guide is contained in the following post, and the most recent FINRA Notice to Parties, regarding dispositive motions can be accessed here: FINRA Notice to Parties Guiliano […]

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FINRA Notes Hazards of Complex Products, Urges Heightened Supervision

January 25, 2012  |   Posted by :   |   Policy, Stockbroker Fraud News   |   0 Comments

Sometimes investors can’t help but get the feeling that stockbrokers themselves don’t understand the complex products they’re selling. The Financial Industry Regulatory Authority (FINRA) shares this concern, as evidenced by a regulatory notice it issued this month calling for heightened supervision of stockbroker activity involving complex products. Complex Products Complex products are described by FINRA […]

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Supreme Court Declines to Hear Case on FINRA Immunity from Legal Action

January 19, 2012  |   Posted by :   |   Policy, Stockbroker Fraud News   |   0 Comments

A purported class-action lawsuit brought by a broker-dealer against the predecessor to the Financial Industry Regulatory Authority Inc., or FINRA, went out meekly this week, when the U.S. Supreme Court denied without explanation the plaintiff’s petition for the case to be heard. The suit, Standard Investment Chartered Inc v. National Association of Securities Dealers, was […]

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Will Investment Advisors Ever Be Really Regulated?

September 15, 2011  |   Posted by :   |   Policy, Stockbroker Fraud News   |   0 Comments

The migration of stockbrokers into the advisory arena through the marketing of brokers as “trusted advisers” and “financial advisors” over the years has fueled confusion among investors as to the services provided by stockbrokers and investment advisers as well as the level of protection. The dirty secret is that aside from filling out an Investment […]

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Regulators Propose Brokerage Firms Disclose Kickbacks from Mutual Fund Underwriters

May 17, 2011  |   Posted by :   |   Policy, Stockbroker Fraud News   |   0 Comments

The Financial Industry Regulatory Authority, recently filed a proposed rule change with the U.S. Securities & Exchange Commission to to adopt NASD Rule 2830 (Investment Company Securities or mutual fund shares) as FINRA Rule 2341 (Investment Company Securities) with certain important changes. NASD Rule 2830 NASD Rule 2830 regulates brokerage firms’ activities in connection with […]

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FINRA Develops Public Arbitrator Pilot Program.

In a superficial effort to avoid Congress enacting the Arbitration Fairness Act, in response to the perceived corruption of the arbitration process by FINRA, a “self”-regulatory organization consisting of the same brokerage firms that are the defendants or respondents in these cases, announced that it will launch a two-year pilot program later this fall. The pilot program […]

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NASAA Testimony At Today’s Arbitration Fairness Act Hearing

December 27, 2007  |   Posted by :   |   FINRA Securities Arbitration, Policy, Stockbroker Fraud News   |   0 Comments

Testimony of Tanya Solov Director, Illinois Securities Department Illinois Secretary of State On behalf of the North American Securities Administrators Association Before the United States Senate Committee on the Judiciary Constitution Subcommittee December 12, 2007 S. 1782, the Arbitration Fairness Act of 2007 December 12, 2007 Chairman Feingold, Ranking Member Brownback, and Members of the […]

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FINRA Reminds Member Firms of Their Obligations Regarding Background Investigations

November 15, 2007  |   Posted by :   |   FINRA Securities Arbitration, Policy, Stockbroker Fraud News   |   0 Comments

A critical part of the hiring process in the securities industry is the background investigation of prospective personnel. For instance, background investigations can help member firms determine whether a prospective employee is subject to a statutory disqualification or whether he or she may present a regulatory risk for the firm and customers. Firms Obligations It […]

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