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FINRA Lawyer Blog


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...



FINRA CEO Cook Grilled by Congress on FINRA’s Financial Conduct

FINRA CEO Cook Grilled by Congress on FINRA’s Financial Conduct

During a recent Financial Services Subcommittee oversight hearing, both Democrat and Republican lawmakers raised concerns before FINRA CEO Robert Cook. Some of the issues discussed were the Regulatory Authority’s standing as a private entity and its handling of fine proceeds, which hit a...

Evolution of Publicly Traded Stock Ownership in the US 1990s-2016

Evolution of Publicly Traded Stock Ownership in the US 1990s-2016

The last few years have seen an improvement in economic activity in the US. After median family net worth remained stagnant between 2010 and 2013, house prices are now rising, corporate equity prices are also on the rise. But how does that translate in terms of traded stock ownership? In order to...


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