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In the News
Jason Doss of the Doss Firm, LLC has been quoted by major publications and news organizations, including USA Today, The Wall Street Journal, The Street, The New York Times, The Atlanta Journal Constitution, Orlando Sentinel, InvestmentNews, CBS Boston, San Francisco Chronicle, Reuters, The Associated Press, Global Newswire, PR Newswire, Think Advisor, Financial Planning, The Business Insider, Euromoney Institutional Investor AARP Magazine, Real Estate Weekly News, The Patriot Ledger, Mainstreet, Sense on Cents and The Public Investors Arbitration Bar Association (PIABA). For example(s), see below:
2/29/16: Press Release: The Doss Firm LLC and The Frankowski Firm LLC: Investigation of United Development Funding REITs Is Underway
5/29/15: Pridgen Enterprises, Inc. Accused of Defrauding Elderly Georgia Woman, According to the Doss Firm, LLC
Securities attorneys Jason R. Doss and Samuel T. Brannan, of The Doss Firm, LLC, in Marietta, Ga, represent Ms. Anthony. Attorney Jason R. Doss, of The Doss Firm, LLC, said, “This is a case about the financial exploitation of Janet Anthony by defendants who represent themselves as trustworthy professionals. We allege the Pridgen defendants, through a series of deceptive practices, defrauded Ms. Anthony and simply took her home and her financial security.”
— The Doss Firm, LLC, Real Estate Weekly News
3/26/15: Latest Fiduciary Rule Battle Cry: ‘Broker Ads Mislead Investors’
”We’ve waited long enough. Dodd-Frank was passed in 2010,” says Jason Doss, an attorney and past president of PIABA. “The time to act is now.”
— Andrew Welsch, On Wall Street.
3/14/15: Financial Advisor Leavitt Sanders, Others Accused of Defrauding Elderly Georgia Couple, According to the Doss Firm, LLC
Led by securities attorneys Jason R. Doss and Samuel T. Brannan, The Doss Firm, LLC, of Marietta, Ga., is investigating Mr. Sanders and the following business entities currently or formerly associated with him: Invest Financial Corporation, of Atlanta; Triad Advisors, Inc., of Norcross, Ga…Leavitt Financial Group, Inc., of West Point, Ga.; and Capital Asset Advisory Services, LLC, of Haslett, Mich. Attorney Jason R. Doss, of The Doss Firm, LLC, said, “The Bankstons told Mr. Sanders that they needed income and did not want to take any unnecessary risks. Instead, he exposed their nest-egg to high-risk, speculative day trading, and options and futures investments.”
— The Doss Firm, LLC
3/9/15: SEC Limits Who Can Qualify as a Public Arbitrator. Proposal Excludes More Who Formerly Worked in Financial Firms
“It is confusing to put people who represent plaintiffs into the same arbitrator pool as those who have industry background,” said Jason Doss, owner of an eponymous law firm and former president of the Public Investors Arbitration Bar Association. “This will hurt investors,” Mr. Doss said. “It will further reduce transparency about how Finra recruits and selects arbitrators to hear cases.”
— Mark Schoeff Jr., Investment News
10/8/14: Arbitrations May Be Unfair to Investors. Panel Members Are Overwhelmingly White, Male, Older
”There is no question that having a pool of arbitrators with diverse backgrounds and experiences will result in improved decision making,” said Jason Doss, an Atlanta attorney and president of the Public Investors Arbitration Bar Association, the group that conducted the analysis. ”PIABA has showed that FINRA’s arbitrator disclosure process fails at every step,” he said, adding, “investors have no other choice but to conclude that arbitration is unfair.”
— Kevin McCoy, USA Today
10/8/14: The Fix for Biased Wall Street Arbitration? Make It More Like Court or Get Rid of It, Wall Street’s Mandatory Arbitration System Is a Disgrace, and FINRA Says It’s Looking to Make It Better. Meanwhile, Beware the Snoozing Arbitrator…
“When you’re being judged by 75-year-old men who are wealthy or retired lawyers from defense firms, investors are going to say ‘I don’t think they understood my issue,’ “ said Jason Doss, Piaba’s president.
— Susan Antilla, The Street
10/7/14: FINRA Arbitration Panels Lack Diversity, Lawyers’ Group Says
According to data cited in the report, based on a review of 5,375 disclosure reports arbitrators have to file with the Financial Industry Regulatory Authority Inc., the Wall Street self-regulator that runs the arbitration process, the average age of arbitrators is 67; about 40% are 70 or older and 17% are 80 or older. The lack of younger arbitrators makes the roster too homogeneous, Piaba said. Some 80% of arbitrators are men. “Women are underrepresented,” said Jason R. Doss, the president of Piaba and an attorney in Atlanta.
— Matthias Reiker, The Wall Street Journal
10/7/14: Securities Arbitration is Flawed, Investor Group Claims
“The [FINRA] pool is not diverse; it’s heavily weighted toward lawyers … because FINRA tends to reach out to and recruit from bar associations,” said Jason Doss, PIABA president and one of the authors of the report. “You need arbitrators with different backgrounds and experiences that they bring to the table” for fair results, he said.
— Carole Fleck, AARP Magazine
10/7/14: FINRA Arbitration Fails Diversity, Bias Tests, Group Says
“FINRA states that the cornerstone of the integrity of its entire arbitration forum depends on FINRA having an effective and reliable process to detect and disclose arbitrators’ biases and conflicts of interest to the parties,” Doss said. “PIABA has showed that FINRA’s arbitrator disclosure process fails at every step. Therefore, investors have no other choice but to conclude that arbitration is unfair.”
— Jason Doss quoted in Law360 by Ed Beeson
10/7/14: Report: Arbitrations May Be Unfair to Investors
“There is no question that having a pool of arbitrators with diverse backgrounds and experiences will result in improved decision making,” said Jason Doss, an Atlanta attorney and president of the Public Investors Arbitration Bar Association, the group that conducted the analysis…”PIABA has showed that FINRA’s arbitrator disclosure process fails at every step…investors have no other choice but to conclude that arbitration is unfair.”
— Kevin McCoy, USA Today, featured in The Leaf Chronicle
10/7/14: FINRA Arb Panels Lack Diversity, Transparency: PIABA Study
“The Financial Industry Regulatory Authority’s arbitration panels lack diversity and transparency about member biases, and the self-regulator’s recruiting practices have resulted in a “homogenous” arbitrator pool, according to a report released Tuesday by the Public Investors Arbitration Bar Association. “Diverse groups of people make better decisions,” Jason Doss, president of PIABA, which represents investors in disputes with the securities industry, said on a Tuesday conference call with reporters to discuss the report findings.”
— Melanie Waddell, Think Advisor
10/7/14: PIABA Claims Arbitrator Bias; FINRA Lashes Back
Jason Doss featured in Investment News fights for diversity in the FINRA arbitrator pools.
10/7/14: Investor Advocates: FINRA Arbitration Panels Lack Diversity
The Public Investors Arbitration Bar Association conducted a study that examined more than 5,300 arbitrator disclosure reports and found that almost 80% of arbitrators were male, and that 40% were over 70 years old. “It is a roster that is homogenous and not diverse,” said PIABA President Jason Doss.
— Suleman Din, Financial Planning
10/3/14: Investor Lawyers Target Lack of Diversity of Wall St. Arbitrators
“PIABA said it will detail its findings on Tuesday, Oct 7. The group analyzed the backgrounds of 5,375 FINRA arbitrators. The alleged demographic problems stem from FINRA’s recruiting practices, the group said. PIABA is also concerned about a “lack of transparency” related to FINRA’s recruitment practices for arbitrators, it said. PIABA’s president, Jason Doss, declined further comment on Friday. A FINRA spokeswoman also declined to comment.”
— Suzanne Barlyn, Linda Stern, and Chris Reese, Reuters
9/30/14: FINRA Proposal Confines and Confounds Plaintiff Lawyer
In a July 24 letter submitted to the SEC, PIABA president Jason Doss of The Doss Firm in Marietta, Georgia wrote that his organization takes issue with proposed [changes] under which attorneys and other professionals who service investors in securities disputes would be prevented from serving … Such change would mark a radical departure from the historical logic of designating arbitrators… Specifically, Doss wrote that PIABA objects to the exclusion of attorneys who have previously represented investors in securities disputes from the pool of potential public arbitrators. PIABA objects to the FINRA proposal, Doss continued, because it includes additional categories of individuals with substantial ties to the securities industry who would escape the proposed ‘non-public’ definition and be allowed to be classified as ‘public,’ despite having close ties to the financial services industry.
— Legal Monitor Worldwide
9/5/14: FINRA Dispute Resolution Chief to Step Down
“At the time, Jason Doss, the head of one of the most vocal critics of FINRA’s dispute process, the Public Investors Arbitration Bar Association, an investor advocacy group, praised the composition of the task force, but expressed concern that it would overlap with the mission of FINRA’s NAMC.”
— Reuters, Legal Monitor World Wide
9/3/14: PIABA: SEC Should Reject “Radical” FINRA Plan to Shift Attorneys for Investors Into Industry Arbitrator Pool
Attorney Jason R. Doss, president, PIABA, said: “We object to the proposed removal of certain attorneys, accountants and other professionals from the ‘public arbitrator’ classification. FINRA has not produced a single shred of evidence to support the notion that attorneys and other professionals who serve the investing public are biased either for or against the securities industry.”
— PIABA, InvestorIdeas.com
8/23/14: Morgan & Morgan and the Doss Firm, LLC Announce Investor Alert: Commissioner’s Report on UBS Puerto Rican Bond Funds Anticipated
In a press release issued by both Morgan & Morgan and the Doss Firm, LLC the firms explain that Puerto Rican bonds plummeted causing havoc for investors.
7/31/14: COMPLY- Wall Street Arbitration Proposal Faces Rocky Path
FINRA cites no evidence that professionals who serve investors would be biased, wrote Jason Doss, PIABA’s president. What’s more, the “non-public arbitrator” label has traditionally applied to arbitrators who have industry ties, he wrote.
— Reuters, Suzanne Barlyn, Linda Stern, G. Crosse
7/30/14: State Raise Concern Over Arbitrator Plan
Public Investors Arbitration Bar Association President Jason Doss wrote in a separate letter that the group, which aims to promote the interests of public investors, believes attorneys, accountants and other professionals who service the investing public should not be designated as non-public.
— Ben Maiden, Compliance Reporter
SEC OKs FINRA Rule on Expungement of Broker Black Marks
Approval of the rule “helps to reduce FINRA’s lack of transparency about a broker’s complaint history,” said Jason Doss, president of the Public Investors Arbitration Bar Association, in a statement. “All investors should have access to accurate and complete information when making a decision about who to entrust with their life savings. Brokers with investor complaints that have settled should not be able to sanitize their records by erasing black marks.”
— Melanie Waddell, Think Advisor
7/23/14: SEC Approves FINRA-Backed Expungement Rule
The Public Investors Arbitration Bar Association has pushed aggressively in favor of stricter expungement rules and improved. The investor advocacy group released a study last October showing that advisors faced with arbitration cases were granted expungement relief in 97% of cases resolved by settlement or stipulated awards between May 2009 and the end of June 2011. ”PIABA is very happy with the result and we hope there are more improvements to come,” said PIABA president Jason R. Doss.
— Andrew Coen, Financial Planning
7/21/14: As Dodd-Frank Turns 4, Adviser Issues Still Unresolved
Investor advocates have called for an end to mandatory arbitration. So far, they haven’t budged the SEC. “We’re definitely frustrated with the lack of movement,” said Jason Doss, president of the Public Investors Arbitration Bar Association.
— Mark Schoeff Jr., Investment News
7/17/14: Will FINRA’s New Task Force Improve Arbitration Process?
PIABA President Jason Doss urges the new task force to make issues around disclosure the centerpiece of its inquiry. ”Improvement to the arbitrator disclosure process is of primary significance to us,” Doss says. “I think that the integrity of the process begins and ends with the arbitrators.” Doss greets FINRA’s announcement of the committee with a cautious optimism, praising the diverse composition of the panel for striking a balance between industry and the investor advocacy community.
— Kenneth Corbin, Financial Planning
5/16/14: Brokers Find It Harder to Wipe Slate Clean
“From Nov. 1, 2013, to April 30, 2014, brokers requesting expungement following a settlement or stipulated award were only successful around 83% of the time, according to a review of the 132 requests during that period by arbitration award research service Securities Arbitration Commentator Inc. “My perception is the arbitrators are taking the issue seriously,” said Jason Doss, a plaintiff’s attorney and president of PIABA.”
— Mason Braswell, Investment News
5/17/14: One Way Advisors Can Find Funds With the Potential to Outperform
It’s becoming harder for brokers to clear their names reports Mason Braswell at Investment News. A November study by Public Investors Arbitration Bar Association found that brokers won expungement in 97% of cases, but that number has been declining since. Soon after the study was released FINRA published new guidance for arbitrators. “My perception is the arbitrators are taking the issue seriously,” Jason Doss, president of PIABA told Braswell.
— Mamta Badkar, The Business Insider
5/17/14: Brokers Find It Harder to Wipe Slate Clean
From Nov. 1, 2013, to April 30, 2014, brokers requesting expungement following a settlement or stipulated award were only successful around 83% of the time, according to a review of the 132 requests during that period by arbitration award research service Securities Arbitration Commentator Inc. “My perception is the arbitrators are taking the issue seriously,” said Jason Doss, a plaintiff’s attorney and president of PIABA.
— Legal Monitor Worldwide
5/6/14: Corrected-Comply- Investor Lawyers Find Fault With FINRA Broker Disclosures
Reuters: PIABA attorneys lead the charge with Jason Doss as PIABA Presidents.
5/1/14: A Question of Fairness: Will Dozens of FINRA Arbitration Cases Be Reopened?
FINRA does not require its arbitrators to be attorneys. Nonetheless FINRA has an obligation to vet applicants thoroughly, argues Jason Doss, president of the Public Investors Arbitration Bar Association. “They are obviously not doing their due diligence before making people arbitrators,” Doss says. “From the investors’ point of view, they are forced into this process. They have to pay a filing fee to participate and they deserve better.”
— Andrew Welsch, On Wall Street
4/28/14: FINRA Flexes Muscle—Schwab Caves Firm Gives Up Battle to Ban Investor Class Action
”This settlement is a victory for investors,” said Jason Doss, an attorney and president of PIABA. “These class action waiver provisions are not going to impact harmed investors if they choose to file a class action.”
— Mark Schoeff Jr. and Mason Braswell, Investment News
4/24/14: Update 1- Wall Street Watchdog Mandates Broker Background Checks
The watchdog will also conduct a search of publicly available criminal records of brokers who have not been fingerprinted within the last five years, it said in a statement on Thursday. ”I’m surprised it’s not already required,” said Jason Doss, president of the Public Investors Arbitration Bar Association, a group of lawyers whose members represent investors in securities arbitration cases.
— Neha Dimri and Suzanne Barlyn, Reuters
4/25/14: Under Pressure, FINRA Moves to Expand Advisor Background Checks
In an interview following Thursday’s vote, PIABA President Jason Doss said the association was “encouraged by FINRA taking steps to possibly add additional categories to the BrokerCheck reports.” He added, however, “I’d like them to just make all the information that’s already publicly available on the BrokerCheck reports.”
— Kenneth Corbin, Financial Planning
4/22/14: FINRA Communications Plan Worries Arb Group
In a recent comment letter, PIABA President Jason Doss wrote that the groups members believe that the amendment is misguided and runs counter to FINRA’s stated objective of investor protection. The securities industry is not far removed from the lack of transparency and misinformation that led to the analyst scandals related to companies such as WorldCom. The proposed amendments by FINRA amount to nothing more than a cost-cutting attempt for firms at the expense of investor protection, Doss wrote. History has taught us that such protection is both requisite and essential to the efficient operation of the markets. The proposed amendments by FINRA amount to nothing more than a cost-cutting attempt for firms at the expense of investor protection.
— Ben Maiden, Euromoney Institutional Investor PLC.
4/21/14: FINRA Eyes Rule Requiring B-Ds to Check New Hires’ History
“We’re encouraged that Finra appears to be taking this seriously and will take action to cure the problem,” said Jason Doss, PIABA’s president and owner of The Doss Firm. “There’s definitely a need, and frankly, it’s disturbing that they haven’t been doing [background checks] already.”
— Mark Schoeff Jr., Investment News
4/1/14: Should Dozens of FINRA Arbitration Case Be Reopened?
The industry regulator does not require its arbitrators to be attorneys. Nonetheless FINRA has an obligation to vet applicants thoroughly, argues Jason Doss, president of the Public Investors Arbitration Bar Association. “They are obviously not doing their due diligence before making people arbitrators,” Doss says. “From the investors’ point of view, they are forced into this process. They have to pay a filing fee to participate, actually do the arbitration, and they deserve better.”
— Andrew Welsch, Financial Planning
3/23/14: Wealth Health: New Report Shows Necessity for Extra Checks on Brokers
Jason Doss, president of PIABA and co-author of the report, said that “the information should all be available, as it is from the states. … You are better off doing a search with the state securities administrator than through BrokerCheck.” –
— Chuck Jaffe, The Patriot Ledger
3/22/14: PIABA Warning: FINRA Witholds Critical “Red Flag” Information in Broker Background Check Disclosures to Investors
Attorney Jason R. Doss, president, PIABA, said: “All investors should be able to obtain complete and consistent information about brokers.Period. The quality of the disclosure you get about brokers should not depend on which state you live in.There is no rational basis for FINRA to hide key ‘red flag’ information that investors in some states can get from state-level agencies.Given that FINRA has failed repeatedly to take action to increase the disclosures in BrokerCheck, Congress and the SEC need to compel them to do so if necessary.”
— PIABA, Investment Weekly News
3/21/14: Fox 19 Evening News at 6:30
Jason Doss featured on Fox News discussing the security industry’s “dirty little secret.”
3/19/14: Charles Jaffe: Market Watch
“Jason Doss, president of PIABA and co-author of the report, said that ‘the information should all be available, as it is from the states. … You are better off doing a search with the state securities administrator than through BrokerCheck.’”
3/15/14: St. Louis Dispatch: Jim Gallagher Column
BrokerCheck “does not give investors the full picture about a broker,” said Jason Doss, who heads a group of lawyers who represent investors. “The items being omitted would raise a red flag.”
3/12/14: Exclusive: Watchdog FINRA Scrambles to Find Arbitrators for Puerto Rico Claims
“I’ve been receiving emails all day today from members getting frustrated that all the cases are stayed,” said Jason Doss, president of the Public Investors Arbitration Bar Association, a group of lawyers that represent investors in securities arbitration cases. “My initial reaction is that there aren’t enough arbitrators to satisfy the needs to investors. FINRA needs to do more to recruit more arbitrators.”
— Suzanne Barlyn, Reuters
3/11/14: FINRA to Limit Use of Arbitrators with Industry Ties
Piaba sees the new restriction on industry insiders as “a big step forward,” but doesn’t favor the rule change regarding investors’ lawyers, said the group’s president, Jason Doss, an Atlanta-based lawyer. He called the proposal “a glass half full.”
— Matthias Reiker, The Wall Street Journal
3/10/14: Financial Advisor Background Checks Omit Crucial Information Under “Veil of Secrecy”
“All investors should be able to obtain complete and consistent information about brokers. Period. The quality of the disclosure you get about brokers should not depend on which state you live in,” says attorney Jason R. Doss, president of the PIABA. “There is no rational basis for FINRA to hide key ‘red flag’ information that investors in some states can get from state-level agencies. Given that FINRA has failed repeatedly to take action to increase the disclosures in BrokerCheck, Congress and the SEC need to compel them to do so if necessary.”
— Jason Doss quoted in Main Street, Hal M. Bundrick reports.
3/10/14: FINRA’s BrokerCheck Withholds Critical Information, Group Says
“There is no rational basis for FINRA to hide key ‘red flag’ information that investors in some states can get from state-level agencies,” PIABA President Jason Doss said in a statement. “Given that FINRA has failed repeatedly to take action to increase the disclosures in BrokerCheck, Congress and the SEC need to compel them to do so if necessary.”
— Rodger Nayak, SNL Financial Services Daily
3/10/14: Broker Disclosure Attacked. Report Claims FINRA Holds Back Too Much
The lack of disclosure constitutes a serious concern for investor protection, said Jason Doss, PIABA’s president. ”The information that Finra is omitting on BrokerCheck is objectively important to investors seeking to make an informed decision,” he said. “The items being omitted would raise a red flag to any reasonable investor.”
— Mason Braswell and Mark Schoeff Jr., Investment News
3/10/14: FINRA Fires Back, Defends BrokerCheck
“BrokerCheck reports are not called ‘BrokerCheck-with-your-securities-regulator’ reports,” says Jason Doss, an Atlanta-based attorney and president of PIABA.
— Andrew Welsch
3/7/14: FINRA Responds to Study Finding Holes in BrokerCheck
Jason Doss quoted in LifeHealthPro
3/6/14 : FINRA’s BrokerCheck Comes Under Fire
Jason Doss, President of PIABA said, “The information that FINRA is omitting on BrokerCheck is objectively important to investors seeking to make an informed decision.”
— Mason Braswell and Mark Schoeff, Investment News
3/6/14: PIABA Warning: FINRA Withholds Critical “Red Flag” Information in Broker Background Check Disclosures to Investors (Includes the PIABA BrokerCheck Report)
Attorney Jason R. Doss, president, PIABA, said: “All investors should be able to obtain complete and consistent information about brokers. Period. The quality of the disclosure you get about brokers should not depend on which state you live in. There is no rational basis for FINRA to hide key ‘red flag’ information that investors in some states can get from state-level agencies. Given that FINRA has failed repeatedly to take action to increase the disclosures in BrokerCheck, Congress and the SEC need to compel them to do so if necessary.”
3/6/14: Why FINRA’s BrokerCheck Is Under Fire
“Full and meaningful disclosure is a cornerstone of the markets. We see this cornerstone as being eroded,” says Jason Doss, an Atlanta-based attorney and president of PIABA.
— Andrew Welsch, Financial Planning
3/6/14: FINRA’s BrokerCheck Omits Brokers’ Black Marks: Stud
Jason Doss, PIABA president, said in releasing the report that “all investors should be able to obtain complete and consistent information about brokers. Period. The quality of the disclosure you get about brokers should not depend on which state you live in. There is no rational basis for FINRA to hide key ‘red flag’ information that investors in some states can get from state-level agencies.” Doss added that given that FINRA “has failed repeatedly to take action to increase the disclosures in BrokerCheck, Congress and the SEC need to compel them to do so if necessary.”
— Melanie Waddell, Think Advisor
3/4/14: Analysis to Show Investors Not Getting Full Picture of Brokers from FINRA’s BrokerCheck System
The PIABA report outlines specific recommendations to harmonize the information disclosure provided by the states and FINRA’s BrokerCheck system.
News event speakers will include:
PIABA President Jason R. Doss, an Atlanta attorney; Christine Lazaro, acting director, Securities Arbitration Clinic, St. John’s University School of Law, Queens, New York City; Christine Hines, consumer and civil justice counsel, Public Citizen’s Congress Watch; and Denise (Denny) Voigt Crawford, former Texas Securities Commissioner (1993-2011) and former president, North American Securities Administrators Association (NASAA) in 1996-1997 and 2009-2010.
2/17/14: SRO Redefines Who Can Serve as Public Arbitrator
”Finra chose a bright-line rule as opposed to picking an arbitrary period of time,” said the group’s president, Jason Doss of The Doss Firm. “And PIABA thinks that’s a victory for claimants.”
— Mason Braswell, Investment News
1/24/14: FINRA Aims to Ban Deals That Make Clearing Brokers’ Records Easier
FINRA can still improve by sending a regulatory staffer to each expungement arbitration, instead of waiting until a broker requests court confirmation of the arbitrator’s recommendation, said Jason Doss, PIABA’s president. Nonetheless, FINRA’s effort to possibly ban bargaining for expungements is a “step in the right direction,” Doss said.
— Suzanne Barlyn and Leslie Adler, Reuters