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Articles Posted in FINRA Arbitration

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What would you do if your broker decided to move to a new firm? Would you follow them? What if you’re a broker who wants to change firms for good cause? Silver Law Group represents investors and individual financial advisors in claims against brokerage firms for misconduct relating to failure to properly disclose the reasons for a brokers termination, claims of harassment or misconduct by the brokerage against the financial advisor and investors who have been harmed when brokerage firms fail to advise the client that a broker has been terminated for cause or damage to investor’s portfolio.What would you do if your broker decided to move to a new firm? Would you follow them?

What if you’re a broker who wants to change firms for good cause?

Silver Law Group represents investors and individual financial advisors in claims against brokerage firms for misconduct relating to failure to properly disclose the reasons for a brokers termination, claims of harassment or misconduct by the brokerage against the financial advisor and investors who have been harmed when brokerage firms fail to advise the client that a broker has been terminated for cause or damage to investor’s portfolio. Continue reading ›

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SFLG-LogoSilver Law Group has again been named a “Top Law Firm” by the South Florida Legal Guide (SFLG). The SFLG is a leading guide to the best attorneys and law firms in the South Florida region, and Silver Law Group’s recognition in the 2021 edition follows the same recognition in the publication’s 2020 edition. Continue reading ›

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In this blog, we frequently discuss investors who, through no fault of their own, have lost money to unscrupulous brokers and investment advisors who mislead or defraud their clients. When an investor can't work things out with their registered representative, the next step is frequently arbitration with the Financial Industry Regulatory Authority, or FINRA. As a not-for-profit, non-governmental organization, FINRA is responsible for the licensing and regulation of broker-dealers. FINRA is the largest self-regulatory organization (SRO) in the securities industry within the U.S. The agency also has one of the largest forums for dispute resolution in the country. With 3,000 employees through 16 offices throughout the US, FINRA governs 3,700 brokerages and 630,000 registered representatives. FINRA is separate from the Securities and Exchange Commission, or SEC. Securities Arbitration Arbitration through FINRA requires the selection of neutral arbitrators through FINRA's Dispute Resolution Services. One to three neutral third parties are brought in to hear both sides of the case and make a decision that is binding for both parties. The process is designed so that both parties’ concerns are heard, and that the decision is fair.In this blog, we frequently discuss investors who, through no fault of their own, have lost money to unscrupulous brokers and investment advisors who mislead or defraud their clients. When an investor can’t work things out with their registered representative, the next step is frequently arbitration with the Financial Industry Regulatory Authority, or FINRA. As a not-for-profit, non-governmental organization, FINRA is responsible for the licensing and regulation of broker-dealers. Continue reading ›

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Investors who own GWG L Bonds have grown increasingly concerned after GWG announced in a form 8-K filed with the SEC that it would not pay investors dividends owed for January 15, 2022. Silver Law Group represents GWG L Bonds investors, and may be able to help you recover your losses. Contact us at 800-975-4345 for a no-cost, confidential consultation. The SEC is investigating GWG Holdings (GWGH), a Dallas, Texas-based financial services company that sells alternative investments and life insurance. GWG L Bonds may be in financial trouble, that could lead to investors losing a significant amount of their principal investment. The company has been late on deadlines to file its annual report, which caused NASDAQ to threaten to delist the company. In April, 2021, the company paused sales of their L Bonds. The recent 8-K stated that the GWG’s board of directors authorized management to retain the services of a restructuring advisor. GWG’s stock has plummeted on the bad news, trading as low as $2.36 after starting 2022 at $9.60.Investors who own GWG L Bonds have grown increasingly concerned after GWG announced in a form 8-K filed with the SEC that it would not pay investors dividends owed for January 15, 2022.

Silver Law Group represents GWG L Bonds investors, and may be able to help you recover your losses. Contact us at 800-975-4345 for a no-cost, confidential consultation. Continue reading ›

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Alan Appelbaum (Alan Zelig Appelbaum, CRD#: 500336) is a previously-registered broker who last worked for Aegis Capital Corp. in their Boca Raton, FL office. Appelbaum previously worked for Herbert J. Sims & Co. Inc., Ryan, Beck & Co., LLC, Gruntal & Co., LLC, and several other firms. He had been in the industry since 1976. Aegis Financial In Boca Raton, Florida FINRA recently ordered Aegis Capital Corp. to Pay $1.7 Million in restitution to customers whose accounts were excessively and unsuitably traded commonly referred to as churning. Also, two supervisors were fined and a supervisor was suspended for failing to respond to red flags and a financial advisor was sanctioned. Excessive trading frequently leads to customer losses because the fees and commissions reduce the principal value of the account and requires even greater profits for the investor to break even. Aegis has been the subject of multiple securities arbitration claims involving allegations of excessive trading, churning and unsuitable recommendations. Alan Appelbaum – Boca Raton Florida- Aegis Financial Appelbaum has 18 disclosures on his publicly-available FINRA BrokerCheck report, including 14 customer disputes: May, 2021: A customer dispute alleged unsuitable investments and requested $550,000 in damages. The dispute is pending as of this writing.

Alan Appelbaum (Alan Zelig Appelbaum, CRD# 500336) is a previously registered broker who last worked for Aegis Capital Corp. in their Boca Raton, FL office. Appelbaum previously worked for Herbert J. Sims & Co. Inc., Ryan, Beck & Co., LLC, Gruntal & Co., LLC, and several other firms. He had been in the industry since 1976. Continue reading ›

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If Emerson Equity sold you an L Bond from GWG Holdings, Silver Law Group may be able to help you recover your investment losses. Silver Law Group currently represents GWG L Bonds investors. Please contact us at 800-975-4345 for a no-cost, confidential consultation. Emerson Equity works with GWG to sell L Bonds to the investors. Some investors have already retained counsel to pursue FINRA arbitration claims against their financial advisor, alleging that reasonable due diligence was not conducted into the product or that the bonds were unsuitable for them. Silver Law Group has spoken to investors who claim their Emerson Equity advisor told them that GWG L Bonds were a safe and secure source of income. In reality, L Bonds involve considerable risk and speculation. They are also illiquid, meaning investors aren’t able to convert them to cash easily.If Emerson Equity sold you an L Bond from GWG Holdings, Silver Law Group may be able to help you recover your investment losses.

Silver Law Group currently represents GWG L Bonds investors. Please contact us at 800-975-4345 for a no-cost, confidential consultation. Continue reading ›

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GWG Holdings, Inc. announced that it would not make dividend payments on its L Bonds for January 15, 2022 in a form 8-K filed with the Securities and Exchange Commission (SEC). The 8-K also stated that the company’s board of directors had authorized management to retain the services of a restructuring advisor regarding “evaluating alternatives with respect to its capital structure and liquidity.” Investors holding GWG L Bonds already had concerns about their investments, which may be in significant financial trouble. The SEC is investigating the company, which in 2021 missed key SEC filing deadlines, causing NASDAQ to formally notify the firm that it was not in compliance with listing requirements. In April, 2021, the company paused sales of their L Bonds. GWG’s stock has plummeted in recent days, trading as low as $4.50 as news about GWG’s issues have been disclosed. GWG Holdings, Inc. announced that it would not make dividend payments on its L Bonds for January 15, 2022 in a form 8-K filed with the Securities and Exchange Commission (SEC).

The 8-K also stated that the company’s board of directors had authorized management to retain the services of a restructuring advisor regarding “evaluating alternatives with respect to its capital structure and liquidity.” Continue reading ›

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It was an investment strategy that was supposed to have limited ties with the market or even a single stocks position. The plan was to deliver consistent income with a minimal amount of risk. Touted as a low-risk alternative to traditional investing, the YES strategy offered an alleged safer  investment with a strong probability of successful returns. Unfortunately, that's not quite what happened. The YES Strategy Developed by four investment advisors while at Credit Suisse, the Yield Enhancement Strategy, or YES, was offered to the firm’s most affluent and experienced advisory clients. When they moved to UBS, they took this investment strategy with them.It was an investment strategy that was supposed to have limited ties with the market or even a single stocks position. The plan was to deliver consistent income with a minimal amount of risk.

Touted as a low-risk alternative to traditional investing, the YES strategy offered an alleged safer  investment with a strong probability of successful returns. Continue reading ›

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If you are among the investors who lost money due to the Northstar Financial Services (Bermuda) Ltd., Omnia Ltd., or the Puerto Rico-based PB Life and Annuity Co. Ltd., you should have experienced securities attorneys presenting you. Silver Law Group is an experienced team of lawyers who represent victims of securities and investment fraud. Silver Law already represents other Northstar claimants in FINRA arbitrations, and the firm’s team continues to investigate their and other claims. Silver Law has a long track record of success in these types of cases: Silver Law is a nationally-recognized securities law firm, and we specialize in helping investors recover losses from unscrupulous brokers. Our clients range the gamut, from individual investors who have lost their retirement savings and investment consortiums to large class actions. And with offices in New York and Florida, we serve clients from around the world—with frequent work in Latin America and the Caribbean. (Para clientes de habla hispana, haga clic aquí para obtener más información.) In the decade since Silver Law first opened its doors, its lawyers have recovered tens of millions of dollars for its clients, in FINRA arbitrations and court proceedings.If you are among the investors who lost money due to the Northstar Financial Services (Bermuda) Ltd., Omnia Ltd., or the Puerto Rico-based PB Life and Annuity Co. Ltd., you should have experienced securities attorneys presenting you. Silver Law Group is an experienced team of lawyers who represent victims of securities and investment fraud. Continue reading ›

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Understandably, investors who have lost money in the bankruptcy of Northstar Financial Services (Bermuda) Ltd. have many questions to ask. Many, of course, are specific to their investment accounts, and to answer those, a phone call or email with counsel may be better. But we can address a few common questions our clients have been asking, to help Northstar investors better understand the issues they’re facing. Can I get my money back? Unfortunately, it’s unlikely that you will receive all of your investment, but you may be able to recover some losses as a creditor. Also, if warranted, you may recover money from your broker-dealer if they are liable for breach of fiduciary duties or other claims arising out of their promotion of Northstar investment products. If I go after my broker, does that mean giving up my Northstar claim? No, these are separate proceedings, and one doesn’t impact the other.Understandably, investors who have lost money in the bankruptcy of Northstar Financial Services (Bermuda) Ltd. have many questions to ask. Many, of course, are specific to their investment accounts, and to answer those, a phone call or email with counsel may be better. But we can address a few common questions our clients have been asking, to help Northstar investors better understand the issues they’re facing. Continue reading ›

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