New York Securities Fraud Lawyers BlogInvestors nationwide have been on edge after the worst annual stock market performance in a decade. China trade war tensions, rising interest rates, and the partial government shutdown have caused more volatility. With these recent swings in the stock market, some investors may notice corroborating shifts in their investment portfolio. Even in volatile markets, significant […]
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FINRA Suspends Broker Joseph L. Bess, II for Mismarking Order Tickets
The securities attorneys at Malecki Law are interested in hearing from customers who have complaints against Joseph L. Bess, II. Mr. Bess was recently registered to sell securities with Waddell & Reed, in Edmond, Oklahoma, From April 2014 to July 2016, according to his publicly available BrokerCheck records maintained by the Financial Industry Regulatory Authority […]
Malecki Law Obtains Full Net Out-Of-Pocket Damages for Senior-Aged Client in FINRA Arbitration
We are pleased to announce that after a six-day long arbitration, our client was awarded his full net out-of-pocket damages of $142,168.00 by a Financial Industry Regulatory Authority (FINRA) Arbitration Panel. The story was recently reported by InvestmentNews. The arbitration panel also assessed all forum fees in the amount of $14,400 against the Respondent Garden State […]
Morgan Stanley Broker Armando Fernandez Suspended by FINRA
Morgan Stanley broker Armando Fernandez has been suspended by the Financial Industry Regulatory Authority (FINRA) for 20 business days, according to publicly available FINRA records. Per a Letter of Acceptance, Waiver and Consent filed with FINRA, Mr. Fernandez was accused of exercising discretion in a customer account without prior written acceptance of the account as […]
Risky Investments Begin to Show Losses in Wake of Brexit
The Bexit vote in Britain appears to be exposing fault lines across various investments. The Wall Street Journal reported today that emerging market currencies are taking on steep losses a day after Britain voted to leave the European Union, termed Brexit. According to the article, this comes as the British Pound dropped to a thirty […]
Malecki Law Investigating Oil and Gas MLP Losses
Oil briefly dropped below $30 per barrel today. For those who drive SUVs, this may feel like a blessing. However, for those who are heavily invested in Oil and Gas, it can be frightening. People who invested in Oil and Gas at the recommendation of their financial advisor may be feeling anger and confusion, in […]
LPL Financial Settles Disputes at Tune of $3.2 Million, More Fines May Be Coming
LPL Financial LLC has agreed to pay two more settlements, and these are big ones. On September 23, 2015, it was announced that LPL Financial entered into two settlements for disputes arising from the firm’s supervisory system over recommendations of alternative products, including non-traded real estate investment trusts (REITs). This time, LPL has agreed to […]
LPL Financial Settles Supervisory Failure Charges with FINRA for $11.7 Million
LPL Financial agreed to pay more than $11 million to settle charges in connection with a Financial Industry Regulatory Authority (FINRA) investigation into the firm, as recently reported in the Wall Street Journal. According to the Letter of Acceptance Waiver and Consent filed with FINRA, LPL Financial was alleged to have supervisory failures, related to […]
As Oil Prices Drop, Investors Lose Millions
As oil prices have continued to plummet and commuters across the country have regaled the resulting savings at the pump, investors in oil and gas related stocks, ETFs and master limited partnerships have been shocked by the crushing losses on their brokerage account statements. With interest rates near all-time lows, some financial advisors with clients […]
Biggest Recent FINRA Fines Point to Poor Supervision at Large Broker-Dealers
Apparently the opportunity for bad brokers to engage in wrongful conduct is enabled by big brokerage firms, as recent Financial Industry Regulatory Authority (FINRA) fines indicate that these businesses fail to properly supervise their foot soldiers. The FINRA Rules, including Rule 3010, make clear that broker-dealers are the securities gatekeepers, because they are ultimately responsible […]