Sometimes, no matter what, it seems that it's always the stockbroker's fault. Now -- mind you -- quite often that's a safe bet. There are a lot of bad guys and gals out there parading as Wall Street professionals when, in reality, their only interest is to generate commissions and, worse, steal your money. On the other hand, much the same could be said of many lawyers, CPAs, and a whole host of other supposed professions.
Still, just because you're charged with something doesn't mean that you're guilty. Unfortunately, in the world of Wall Street's regulatory proceedings and arbitrations, it often seems that the deck is stacked against the lowly stockbroker. However, every so often, reason prevails and justice is done.
In his current Registered Rep. magazine column, "Street Legal", author Bill Singer presents one such case in which a stockbroker named as a respondent in a FINRA customer arbitration won a much-deserved expungement of his record. READ "It's Not Always the Broker's Fault."
Don't miss Bill Singer's other 2011 Street Legal columns:
It would have been an easy bit of adjudication by a FINRA arbitrator to find that a now-barred rep was the bad guy, that he victimized his clients and... Read On
The FINRA Regulatory Mule Kicks Defrauded Customers In the Head (BrokeAndBroker.com Blog) https://www.brokeandbroker.com/6852/finra-anderson-hard... Read On
In today's Blog we got a FINRA regulatory decision, a state court judgment, a bankruptcy, and a federal court action. As the legal matters now stand, ... Read On
When considering an appeal questioning FINRA's denial of an expungement request, the SEC seems to have approached its deliberation as a cat toying wit... Read On
A public customer filed a FINRA Arbitration Statement of Claim against Wells Fargo Advisors and asked for no less than $100,000 in damages. The arbitr... Read On