Brian Smiley quoted in On Wall Street about new FINRA arbitration rule. The move may be hailed by investor groups, but other industry experts are criticizing the Securities and Exchange Commission’s recent approval of a rule change that allows for the option of all-public panels in FINRA arbitrations.
10 Ways to Protect Yourself Against Fraud
If you hope to prosper in today’s volatile market and lack the time or skill to choose your investments, you should find an honest, competent professional adviser, but that is easier said than done. Many brokers invest client funds with prudence and skill and put their clients’ interests first, even when inherent market risk brings […]
Stockbroker-Customer Disputes: Making a Case for Arbitration
By Brian N. Smiley As the bulls run wild on Wall Street, there is increasing evidence that the nation’s securities markets have also provided a home for vipers. Names of prominent executives and major brokerage houses have appeared under headlines announcing investigations, indictments and plea bargains for insider trading, market manipulation. Conspiracy, and other conduct […]
FINRA CEO Expresses Concerns About Investment Products
Rick Ketchum, Chairman and CEO of the Financial Industry Regulatory Authority (FINRA), recently spoke at the CCOutreach BD National Seminar. Ketchum addressed some specific product concerns: Over the last couple of years, FINRA has issued a number of Regulatory Notices related to products that have raised concerns for us from an investor protection standpoint. As […]
FINRA Blames Morgan Keegan, Not Brokers, For Hiding Risk
Dow Jones quotes Brian Smiley on securities regulators’ charges against Morgan Keegan. Securities regulators’ actions against Morgan Keegan & Co. put its brokers in the same basic category as investors: duped.
Arbitrator Out of Work? Call FINRA
Wall Street Journal cites Brian Smiley on FINRA’s efforts to recruit arbitrators to handle Morgan Keegan claims. Wall Street needs an army of arbitrators to clean up the mess left by the headline-grabbing collapse of three mutual funds stuffed with collateralized debt obligations and other subprime-related securities.
Investors Win More Broker Cases
Brian Smiley addresses the recent flood of claims against brokers. Investors pummeled by last year’s market meltdown are increasingly taking their brokers to task.
More Firms Join Arbitration Experiment
PIABA President Brian Smiley provides comments on the proposed rule change for securities industry arbitrators. With the downturn taking its toll on investors’ portfolios, the Financial Industry Regulatory Authority (FINRA) is seeing a substantial increase in the number of complaints filed against brokers and advisers. But even as these firms are getting hit hard with arbitration, three […]
Five Questions with Brian Smiley
PIABA President Brian Smiley speaks about arbitration and investor protection. Brian Smiley, a partner in the Atlanta law firm Smiley Bishop & Porter LLP, also serves as the president of the PIABA, which promotes the interests of investors involved in arbitration disputes against brokerage firms. He spoke to Judith Schoolman about his group’s goals and […]
Will You Finally Be Able to Sue Your Broker?
Brian Smiley comments in Smart Money on investor choices. In this great litigious nation, you can sue just about anyone – your doctor, your mechanic, even your dog walker. Just not your stockbroker. Angry brokerage customers – and these days, there are plenty of them – have long been forced to take their complaints before […]
