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FINRA Fined Citigroup $11.5 Million and J.P. Morgan $2.8 Million

FINRA Fined Citigroup $11.5 Million and J.P. Morgan $2.8 Million

FINRA recently sanctioned Citigroup Global Markets Inc. $11.5 million over inaccurate research rating displays. The sanction includes a $5.5 million in fines and $6 million in compensation for wronged retail customers.
According to the SRO’s findings, over at least five years, Citigroup...

FINRA Issues Warning About Cryptocurrency Stock Scams

FINRA Issues Warning About Cryptocurrency Stock Scams

Recently, several cryptocurrency scams have come to light: dishonest individuals advertising their newly concocted crypto-coin as the next big thing, with a potential to make millions for investors willing to take the risk.
FINRA recently issued an Investor Alert to warn investors about...

FINRA Proposes New Rules, Releases Budget for the First Time

FINRA Proposes New Rules, Releases Budget for the First Time

Last December, FINRA made public its 2018 budget and updated Financial Guiding Principles, after approval by the SRO's Board of Governors. In a new information release, the SRO also detailed several rule proposals for the year and planned improvements to its registration technology.
As part...

FINRA Plans to Crack Down on High-Risk Brokers, Are You at Risk?

FINRA Plans to Crack Down on High-Risk Brokers, Are You at Risk?

In conversation with Chip Jones, FINRA’s Senior Vice President of Member Relations and Education, Mike Rufino, Executive Vice President and Head of FINRA Member Regulation—Sales Practice expanded on Robert Cook’s 2018 Priorities Letter, which was released during the first days of...

FINRA Rules 2165 & 4512 - Elder Abuse in the Securities Industry

FINRA Rules 2165 & 4512 - Elder Abuse in the Securities Industry

Based on research conducted by the National Center on Elder Abuse, 16% of elder abuse was caused by financial exploitation, which ranked third followed right after self-neglect and neglect by others. This percentage had increased from 12.3% since 2001; however, elder abuse is vastly under reported....


Former UBS Broker Wins $3 Million in Defamation Case

Former UBS Broker Wins $3 Million in Defamation Case

A FINRA arbitration panel has just awarded James L. Springer Jr.; a Sarasota investment adviser, $3 million in damages, to be paid by his former employer, UBS. Springer, who managed  $350 million in client assets during his 12 years with the company, claims UBS defamed him in a desperate...

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