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Articles Posted in FINRA News

It’s been said that “justice delayed is justice denied.” That old adage certainly applies to the issue of unpaid arbitration awards. When a brokerage firm or broker loses a securities arbitration before the Financial Industry Regulatory Authority (FINRA) and an award is issued, they are required to pay the award to the defrauded investor within […]

On June 4, 2020, FINRA, the Financial Industry Regulatory Authority, announced that it has ordered Merrill Lynch to pay $7.2 million to investors who were charged excessive fees in connection with mutual fund transactions, according to Financial Advisor IQ. The self-regulatory authority is calling this the “largest restitution case in 2020 to date.” Why must […]

When brokers violate FINRA rules or federal securities regulations—by stealing customer funds, recommending unsuitable investments, or refusing to provide on-the-record testimony to FINRA—the Financial Industry Regulatory Authority holds them to account. FINRA publicizes disciplinary actions taken against brokers in their monthly round-up. The full April 2020 report can be viewed here.   In the most […]

When brokers violate FINRA rules or federal securities regulations—by stealing customer funds, recommending unsuitable investments, or refusing to provide on-the-record testimony to FINRA—the Financial Industry Regulatory Authority holds them to account. FINRA publicizes disciplinary actions taken against brokers in their monthly round-up. The full February 2020 report can be viewed here. In the most serious […]

When brokers violate FINRA rules or federal securities regulations—by stealing customer funds, recommending unsuitable investments, or refusing to provide on-the-record testimony to FINRA—the Financial Industry Regulatory Authority holds them to account. FINRA publicizes disciplinary actions taken against brokers in their monthly round-up. The full January 2020 report can be viewed here. In the most serious […]

A three-person Financial Industry Regulatory Authority (FINRA) arbitration panel has awarded $11 million to Mark Munizzi, a former market operations supervisor at UBS in Chicago who claimed that UBS defamed him when they terminated him in April 2018. What allegedly happened in this case? In February 2019, Mark Munizzi was overseeing two accounts, which declined […]

August 2019 Disciplinary Actions When brokers violate FINRA rules or federal securities regulations—by stealing customer funds, recommending unsuitable investments, or refusing to provide on-the-record testimony to FINRA—the Financial Industry Regulatory Authority holds them to account. FINRA publicizes disciplinary actions taken against brokers in their monthly round-up. The full August 2019 report can be viewed here. […]

Two former brokers for USAA Financial Services, which primarily serves military service members and their families, have won an arbitration against their former employer seeking damages related to a defamatory U5 disclosure. Lawyer leaning on table in chambers USAA Financial Services terminated Christopher R. Johnson, of the Addison, Texas branch, and Lee Anne Przybyla, of […]

Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on January 18, 2019 indicate that New York-based broker-dealer Oppenheimer & Company was recently found liable for and ordered to pay an award of more than $250,000 in arbitration proceedings with a customer. Fitapelli Kurta is interested in speaking to investors who […]

Recent news articles and publicly available records provided by the Financial Industry Regulatory Authority (FINRA) report that FINRA has fined Merrill Lynch $300,000 in connection to that firm’s failure to supervise a broker who allegedly defrauded a firm customer in association with what AdvisorHub describes as a “well-known con man,” with whom the broker allegedly […]

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