Blog & Investigations

Zeke Faux of Bloomberg Businessweek recently published an article exploring the critical issue of brokers settling FINRA arbitration claims brought by their customers, then applying to the arbitration panel to erase or “expunge” the complaint from their public records. Expungement is a remedy available…

In an op-ed for the New York Times, Teresa Tritch warns investors against getting caught up in the hype surrounding the resurgent I.P.O. market. In a memorable turn of phrase, she writes “There’s a certain electricity in the air—and I’m reaching for a…

It appears that investors have a new advocate in Washington. Investment News (free subscription required) reports that Senator Edward J. Markey (D-MA), who won a special election to succeed Secretary of State John Kerry, is raising important questions with FINRA and the…

Investors who purchased Lehman “structured notes” through UBS Financial Services should be aware that a settlement reached in a pending class action will affect their legal rights. Within the past few days, these investors should have received notice of the…

Our office is investigating UBS Financial Services Inc. of Puerto Rico over its sales of leveraged bond funds. Our investigation targets not only the sales practices of financial advisors but also the firm’s widespread sale of these proprietary funds, including…

The Galbraith Law Firm is tracking recent guidance issued by FINRA concerning the loss, disclosure and liquidity risks that are presented by so-called “private placements.” FINRA’s press release is below. A private placement is an investment offered to high-net-worth individuals…

WASHINGTON—The Financial Industry Regulatory Authority (FINRA) issued a new investor alert called Private Placements—Evaluate the Risks before Placing Them in Your Portfolio to caution investors that investing in private placements is risky and can tie up their money for a long time.…

FINRA has issued Regulatory Notice 13-31 to provide guidance to brokerage firms, financial advisors and other securities industry employees regarding the revised “suitability” rule that became effective in July 2013. The suitability rule mandates that when brokerage firms and financial…