Selling Away Claims Under Investigation When a financial adviser sells an investment to a client that has not been investigated and approved for sale by his brokerage firm, it is called “selling away” in the financial services industry. Financial advisers and stock brokers who engage in selling away are effectively paid a commission under the table, since their stock broker firm is not aware of the sale. Selling away is illegal, and the investor is normally entitled to get their … Continue reading →

Banks Law Office, PC is conducting an investigation of former LPL Financial and Berthel Fisher & Co. broker Scott McKee and his company, Quality Financial Group for fraud, negligence, and misuse of his customers’ accounts. We have reason to believe that for years, Mr. McKee recommended high risk, and sometimes fraudulent investments to his customers. Many of those customers are now demanding their money back, but Mr. McKee has either refused or is unable to return his customers’ investments. One … Continue reading →

FINRA announced that Robert Banks will chair the promised Discovery Task Force. Members will review substantive issues relating to the Discovery Guide on an on-going basis, with an eye towards keeping the Guide current as products change and new discovery issues arise. The Task Force will begin with the issues that were raised in the comment letters with respect to e-discovery and then move to the more long-term task of monitoring the Guide’s performance. Robert Bank’s appointment to this task force was reported in the … Continue reading →

The front page of the May 1st Sunday Oregonian Business Section reports that the SEC will look into a disclosure loophole. The investigation was prompted by an e-mail to the nation’s top investor watchdog, Mary Schapiro from Robert Banks. You can view Ms. Schapiro’s response to Bob from the Oregon Live.com article where she states that she will ask staff to reconsider whether financial advisers should disclose arbitration awards in their brochures. Be sure to watch Robert’s blog for updates regarding … Continue reading →

Our founder Bob Banks has been selected for inclusion in the 2011 Super Lawyers.