Securities Arbitration Lawyers Blog

Earlier this year, the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) released an investor alert related to automated investor tools. While these types of tools provide benefits to investors, they also come with certain risks and limitations. What are the Risks and Benefits? Automated investment…

Recently, the Financial Industry Regulatory Authority (FINRA) published an alert for investors relating to bond liquidity. For most individuals who have bonds as part of their portfolio of investments, the liquidity of those bonds is not usually an issue that is considered. But, understanding bond liquidity can be important, particularly…

Improper mutual fund switching and failing to provide mutual fund sales breakpoints can constitute violations of the Financial Industry Regulatory Authority (FINRA). These violations can lead to FINRA arbitration claims, which can result in significant damages being assessed against stockbrokers and financial advisors. Further, these violations can lead to financial…

Cetera Financial Group is placing advisers at Summit and other firms Independent financial adviser network Cetera Financial Group has taken steps toward relocating advisers at J. P. Turner & Co. after making the decision to close the firm. According to Investment News, about 50 percent of its current advisers have…

Allegations include falsifying documents Douglas William Finlay Jr. is facing an 18-month suspension and fine of more than $15,000 to be paid later, according to FINRA. According to the disciplinary action documents, Finlay allegedly falsified a customer’s forms by claiming her net worth was more than $1.3 million, when in…

Bank accused of misleading investors in proprietary alternative investments A settlement has been reached in a class action against Citigroup, Inc. resulting in a $13.5 million payout by the banking giant. According to Law360, papers filed August 10, 2015 indicate Citigroup allegedly misled investors by allowing them to buy into…

Broker faces $25,000 fine and 9 month suspension for excessive trading As a broker in the securities industry for over 29 years, Douglas J. Dannhardt recently settled a FINRA disciplinary action relating to allegations of excessive trading in a customer’s account. According to the FINRA BrokerCheck website, Dannhardt’s first disclosure…

Firm Fined and Censured for Failure to Report Required Information According to FINRA’s BrokerCheck website, Liberty Partners Financial Services, LLC of Bakersfield, California, put itself in the FINRA spotlight by failing to properly follow its own written supervisory procedures regarding Order Audit Trail System (OATS) reporting. Without admitting or denying…

Newbridge securities advisor allegedly has conflict of interest between software company and his clients According to FINRA, Lawrence Michael LaBine is the subject of a disciplinary action pending against him after an alleged conflict of interest leading to several customer disputes. In his 29 years in the securities industry, LaBine…

Williamson Accused of Spending Investors’ Money on Personal Expenses These individuals dedicated their lives to improving the lives of others. Some spent their days teaching in the school system. Some spent their days and nights making neighborhoods safer for the community. And they all believed that when they retired, their…