PIABA Foundation and Alliance for Investor Education Launch Investor Education Town Hall Meeting

The Securities Arbitration Commentator (SAC) recently took notice of a new investor education project that was spearheaded by our own Jason Doss.  Mr. Doss is a recent past president of the Public Investors Arbitration Bar Association, or PIABA, and the current president of the PIABA Foundation.  PIABA is an association of attorneys from around the…

Investors have lost $1.78 Trillion so far this year

Fortune magazine reports that investors have lost $1.78 Trillion so far this year!  Investors should review the asset allocation of their portfolios and determine whether or not it is appropriate given their risk tolerance, investment objective and time horizon.  Financial advisors and their firms have a duty to their clients to make suitable investment recommendations…

State Securities Regulators Propose Model Act to Protect Vulnerable Adults from Financial Exploitation

On September 29, 2015, the North American Securities Administrators Association (NASAA) released for public comment a proposed model to help broker-dealers, investment firms, and employees to better recognize if a senior or other vulnerable adult is being financially exploited. Judith Shaw, the NASAA President and Maine Securities Administrator, said, “Working together we can and will…

NASAA Annual Report Shows Senior are the Most at Risk

On September 22, 2015 the North American Securities Administrators Association released their Annual Enforcement Report. The study was conducted from 49 jurisdictions throughout the United States and showed that twenty-five percent of enforcements actions taken in 2014 occurred where seniors were the victims. According to NASAA President and Washington Securities Director William Beatty, “This number…

Not Putting Customers’ Interests First is a Central Failing of Wall Street

On January 6, 2015, the Financial Industry Regulatory Authority (FINRA) published its tenth annual Regulatory and Examinations Priorities Letter. In that letter, FINRA identified five areas, which it described as “recurring challenges,” that have harmed investors and resulted in compliance and supervisory breakdowns at member firms. At the top of FINRA’s list of problem areas…

Investors Need to be Careful About Who Has Custody of Their Money

The Securities and Exchange Commission recently filed fraud charges against a Fort Lauderdale, Florida-based investment advisor and related funds in the federal district court for the Southern District of Florida. The SEC’s complaint names Frederic Elm (formerly known as Frederic Elmaleh), his unregistered advisory firm Elm Tree Investment Advisors LLC, and three funds: Elm Tree…