Blog & Investigations

Standard & Poors has cut the credit rating on Puerto Rico’s general obligation bonds to “junk” status. The downgrade to junk was a long time coming, with many investors viewing Puerto Rican debt as speculative for months. Nonetheless, the continuing…

Over the past several years, many brokerage firms have edged away from the traditional commission-based compensation model. Burned by claims of churning—trading their clients’ accounts at high velocity to generate big commissions—the firms have embraced a fee-based model instead. The…

The Wolf of Wall Street is poised to take home some precious hardware at the Oscars, but disciples of the real-life Jordan Belfort have fallen on hard times. The chief securities regulator of Massachusetts, William Galvin, is taking aim at…

The Securities Exchange Commission (SEC) has barred from the brokerage business former John Thomas Financial chief Tommy Belesis for his role in steering customers into hedge funds and influencing the fund manager and advisor to breach their fiduciary duties. In…

The Financial Industry Regulatory Authority (FINRA) has fined brokerage firm Oppenheimer & Co., Inc. $675,000 and has ordered it to pay restitution of over $246,000 to customers who were overcharged by Oppenheimer in their municipal bond purchases. In addition to…

FINRA has been touting its get-tough credentials lately, and the financial press has begun paying attention. The Wall Street Journal (subscription required) recently reported that: Under pressure from Washington to crack down on rogue stockbrokers, the Financial Industry Regulatory Authority is…

The Galbraith Law Firm has filed a new FINRA claim on behalf of an investor who lost over $500,000 due to his brokerage firm’s unsuitable recommendations and overconcentration. A longtime customer of UBS Financial Services, our client has been retired…

Zeke Faux of Bloomberg Businessweek recently published an article exploring the critical issue of brokers settling FINRA arbitration claims brought by their customers, then applying to the arbitration panel to erase or “expunge” the complaint from their public records. Expungement is a remedy available…

In an op-ed for the New York Times, Teresa Tritch warns investors against getting caught up in the hype surrounding the resurgent I.P.O. market. In a memorable turn of phrase, she writes “There’s a certain electricity in the air—and I’m reaching for a…