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May 19, 2011

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50 Cent, Ten Ent, and The Sorry FINRA Arbitration Claimant: In a Financial Industry Regulatory Authority ("FINRA") ... Bill Singer's Comment: I gotta tell ya - in all the years that I've been filing ...

Forbes (blog)

The Hand from the Grave: Estate Sues Edward Jones Over Suitability :In a Financial Industry Regulatory Authority ("FINRA") Arbitration Statement of Claim filed in July 2010, the Estate of Orpheus Meranda ...

Forbes (blog)

UPDATE:Wells Fargo Broker Never, Never, Never, Never Gave In to FINRA : Former Wells Fargo Advisors LLC's ("WFA") registered representative Denise Lynn ... Bill Singer's Comment: Having worked as a lawyer for two self-regulatory ...

Forbes (blog)

    Estate Sues Over Lawyer's Designation of Ex-Wife as IRA Beneficiary: Newman Trowbridge, Jr. was a customer of Capital One Investment Services, LLC, which is a broker-dealer and a member of the Financial ...

    Forbes (blog)

    Mother Sues Merrill Lynch Over Daughter's Guardianship: In a Financial Industry Regulatory Authority ("FINRA") Arbitration Statement of Claim filed in March 2010, Claimant Alexandra Germano ...


    Naming, Blaming, and FINRA Gaming

    Suppose that an unhappy investor didn't specifically name you in a lawsuit or arbitration when he complained about your investing advice. You'd think that would get you off the regulatory disclosure hook, right? Think again.

    According to the Financial Industry Regulatory Authority's rules, you could still be required to file a disclosure report even if your name is omitted from the caption of respondents (in arbitrations) or defendants (in court proceedings) - and even if you're not identified by name in the complaint.

    FINRA requires your member firm to make a good faith determination about whether you were the responsible "unnamed" registered person. If your firm reads between the lines and figures out that it's you, you will likely wind up with a report on your Central Registration Depository ("CRD") or Form U4.

    Consider how one broker recently dealt with this dilemma: Naming, Blaming, and FINRA Gaming