By George H. Friedman, SAA Editor-in-Chief
As the June 30 enforcement date of the SEC’s Regulation Best Interest (“Reg BI”) approaches, various preparatory steps are rolling out by the regulators.
By George H. Friedman, SAA Editor-in-Chief
As the June 30 enforcement date of the SEC’s Regulation Best Interest (“Reg BI”) approaches, various preparatory steps are rolling out by the regulators.
A recommendation of an unsuitable security cannot be the basis for a federal securities fraud claim,
EXPLAINED AWARD: ANDERSON v. ALLEGIS INVESTMENT ADVISORS, LLC, AAA ID #01-16-0005-0320 (Salt Lake City, UT, 1/8/18).
This 21-page AAA Explained Award,
EXPLAINED AWARD: TULLIS v. AMERIPRISE FINANCIAL SERVICES, INC., FINRA ID #16-01261 (Portland, OR, 6/27/17).
This Award includes a so-called “Dissenting Decision” that is largely a concurrence fleshing out in detail the majority’s one paragraph “Findings” in favor of the customer claimants;
Registered representatives who effect transactions on a customer’s behalf without informing the customer have implicitly recommended those transactions,
Explained Award: Schneider v. Khalsa, FINRA ID #16-00680 (Albuquerque, NM, 11/23/16).
Expungement recommendations by three-member panels are almost always unanimous,