Securities Arbitration Lawyers Blog

UBS has agreed to pay $17.5 million to settle charges from the U.S. Securities and Exchange Commission that the UBS Willow Fund changed its investment strategy focused on distressed debt without informing investors and subsequently lost over 80% of its value.  However, investors have lost millions of dollars which has…

Allegations include failure to supervise registered representatives, among others Austin, Texas-based NFP Advisor Services, LLC has been censured and fined $500,000 according to their FINRA BrokerCheck report. As a FINRA member firm since 1997, the censure and fine follow allegations of failure to abide by several regulatory obligations related to…

Allegations include misrepresentation and other misconduct Thomas Joseph Buck’s 33-year career in the securities industry, beginning with Merrill Lynch, Pierce, Fenner & Smith, Inc (Merrill Lynch) in December 1981 is now over. According to the Financial Industry Regulatory Authority (FINRA) Department of Enforcement document filed on July 24, 2015, Buck…

Bank-issued structured notes under scrutiny after sustained losses over a 2 year period A risk alert issued in August by the Securities and Exchange Commission (SEC) has prompted legal investigations into potential claims by investors. In its alert, the SEC announced it had analyzed 26,600 structured product transactions that equaled…

Allegations include conversion of funds from non-securities customer account After thirteen years in the securities industry, Jeffrey Pierce has been permanently barred from practicing in the securities industry in any capacity. During his career, Pierce accumulated eleven disclosure events, including regulatory events, a criminal event, customer disputes and two employer…

Wronged investors feel otherwise about ending abuse by brokers There’s a new rule being proposed by the Labor Department that will help protect average investors from brokers who don’t always act in their customer’s best interest. This rule, five years in the making, has the brokerage industry concerned that Wall…

According to one accused, they “robbed Peter to pay Paul” while living the high life Living the high life has come to an end for five Arizona who were charged with stealing millions from investors by the SEC. According to the SEC release on September 11, the participants allegedly used…

New Department of Labor rule looks to protect investors from over-zealous brokers In an effort to protect investors from conflicted investment advice, the Department of Labor is seeking to instate a new fiduciary duty rule that has left many independent brokers-dealers chafing in their suits. What is a fiduciary duty?…

President Glen Anderson sanctioned along with Rainmaker Brokerage Firm With six branches and 34 registered persons, Rainmaker Securities, LLC is in hot water with both FINRA and the SEC. Its president, Glen Anderson, is also included in the sanctions brought against the firm, according to official FINRA documents. The allegations…

FINRA arbitration panel finds bank liable in alleged fraud claim As Puerto Rico’s financial struggles continue, a FINRA arbitration panel awarded three claimants $3M in an alleged fraud claim against UBS Financial Services in early September. According to Law360.com, the claimants alleged that the bank committed fraud relating to closed-end…