If you are registered with FINRA, the quickest way to torpedo your career is to lie to FINRA. Two recent settlements with FINRA demonstrate why every financial advisor needs to hire a lawyer right away and tell that lawyer the truth.1 That is critical. Daniel Schmid/FINRA SettlementThe first settlement was by Daniel Schmid. According to…
Continue reading ›Lisa warns that the change may not be as big a deal as many “experts” are predicting. The reason: investor expectations. “There will be companies who opt into it, but I don’t think that huge companies will necessarily embrace it because they have investors who expect quarterly reports and are set up to do quarterly…
Continue reading ›Under Investigation? Why You Must NOT Talk to the SEC or Government Agents Without a Lawyer If you or your company receive a subpoena or get a call or visit from the Securities & Exchange Commission (SEC), FBI, or another governmental authority, it’s not likely because they want to help you. Even if you are…
Continue reading ›The Financial Industry Regulatory Authority (FINRA) is a private, self-regulatory organization that regulates member brokerage firms and exchange markets. Just because you receive a Rule 8210 letter does not mean FINRA will charge you with violation of its rules or violation of securities laws. Nevertheless, the way you respond to a Rule 8210 letter can…
Continue reading ›We aggressively protect our client’s rights, whether they’re businesses, investors, financial professionals, or whistleblowers. The tools of our trade are federal and state laws that regulate the securities industry and protect those who may be abused by it. Other laws or legal doctrines may also apply to participants in the securities industry. They include state…
Continue reading ›This January 25, 2022 Court decision shows how corrupt FINRA’s dispute resolution process is. We don’t see this kind of a decision often because FINRA arbitrations are conducted behind closed doors, by arbitrators selected through an opaque process, by arbitrators who have virtually unfettered authority to determine the law and facts to apply, and with…
Continue reading ›
