The Financial Industry Regulatory Authority (FINRA) is an organization dedicated to investor protection and market integrity. On May 12th, 2023 FINRA announced that SW Financial had been expelled from its membership for multiple violations. The violations include making misrepresentations to customers about its sales of private placement offerings of pre-initial public offering (pre-IPO) securities, churning […]
The SEC refuses to recommend a fiduciary rule for broker-dealers; new rule reiterates FINRA suitability standard and allows conflicts of interest between brokers and investors. The Securities and Exchange Commission in a 4-1 vote has rejected the fiduciary rule as the standard of conduct for broker-dealers and their representatives. Instead, the SEC has proposed “Regulation […]
Investor abuse and trust are explored in this video posted by the Public Investors Arbitration Bar Association (PIABA). Bob Banks answers the question, “why don’t more investors bring claims against their financial advisers?”