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Former UBS Broker Wins $3 Million in Defamation Case

Former UBS Broker Wins $3 Million in Defamation Case

A FINRA arbitration panel has just awarded James L. Springer Jr.; a Sarasota investment adviser, $3 million in damages, to be paid by his former employer, UBS. Springer, who managed  $350 million in client assets during his 12 years with the company, claims UBS defamed him in a desperate...


Have FINRA's “Poor Investments” Affected its Members?

Have FINRA's “Poor Investments” Affected its Members?

In a recent report, the Wall Street Journal said FINRA's investments are underperforming. The self-regulatory organization boasts a $1 billion yearly budget, and it easily collects over $100 million per year through the imposition of fines.
According to WSJ journalists, throughout its...



SEC Accuses Two NYC Brokers of Defrauding Customers

SEC Accuses Two NYC Brokers of Defrauding Customers

The SEC has accused two former Alexander Capital LP brokers, William Gennity and Rocco Roveccio of engaging in unlawful trading and deception that caused their customers to lose hundreds of thousands of dollars, while they earned a comparable amount in fees. 
Gennity and Roveccio both...

FINRA VOWS TO LIMIT EXPUNGEMENTS – Rules and Realities

FINRA VOWS TO LIMIT EXPUNGEMENTS – Rules and Realities

“Arbitrators have a unique, distinct role in ensuring that customer dispute information is expunged from the CRD system only when it has no meaningful investor protection or regulatory value.” FINRA (September, 2017)
In a new push for closer scrutiny over expungements, FINRA...



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