SEC Awards a Total of $8.5 Million Dollars in Two Separate Whistleblower Cases

Stockbroker Law - Tuesday, June 21, 2016
SEC Awards a Total of $8.5 Million Dollars in Two Separate Whistleblower Cases

In two separate press releases dated May 16, 2016 and May 17, 2016 the Securities and Exchange Commission announced awards of over $5,000,000 and $3.5 Million Dollars, respectively, to corporate employees whose information and tips bolstered and/or initiated separate investigations with evidence of wrongdoing. 


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FINRA Whistleblower Tip-Line

Stockbroker Law - Tuesday, June 14, 2016
FINRA Whistleblower Tip-Line

The Financial Industry Regulatory Authority maintains a whistleblower tip-line for individuals having information about potentially illegal or unethical activity involving the securities markets FINRA’s Office of Fraud Detection and Market Intelligence (OFDMI) whistleblower tip-line can be contacted at 1-866-96FINRA (1)-866-963-4672). Alternatively, individuals wishing to disclose and share potentially illegal or unethical activity in the securities markets can contact FINRA by e-mail at whistleblower@finra.org. 


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SEC Issues Investor Bulletin Regarding Stop Orders and Stop Limit Orders

Stockbroker Law - Tuesday, June 07, 2016
SEC Issues Investor Bulletin Regarding Stop Orders and Stop Limit Orders

On May 2, 2016 the SEC’s Office of Investor Education and Advocacy issued an investor bulletin designed to educate investors of the difference between using “stop” and “stop limit” orders to buy and sell stocks. Investors holding substantial positions in shares of individual stocks are oftentimes exposed to catastrophic losses in instances where their brokers have failed to recommend simple, protective strategies such as stop orders and stop-limit orders. 


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FINRA Hosts Arbitrator Appreciation Event

Stockbroker Law - Tuesday, May 31, 2016
FINRA Hosts Arbitrator Appreciation Event

Are you interested in becoming a FINRA arbitrator? The Financial Industry Regulatory Authority (FINRA) is hosting an Arbitrator Appreciation Event on Wednesday, June 8, 2016 at the Kimmel Center at New York University. If you are interested in attending this event or serving as a FINRA arbitrator or FINRA neutral, contact Chris Avery at the FINRA Office of Dispute Resolution at (213) 613-2673. 


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Think Twice Against Borrowing Against Your Pension

Stockbroker Law - Tuesday, May 24, 2016
Think Twice Against Borrowing Against Your Pension

The New York State Department of Financial Services (DFS) and the Consumer Financial Protection Bureau (CFPB) have initiated action against two companies involved in soliciting pension advance loans from unsuspecting consumers. The suit against Pension Funding, LLC and Pension Income, LLC alleges that the companies deceived individuals into taking loans against their pensions, hiding high interest rate loans and fees coupled with deceptions about other terms of the proposed lending arrangements. 


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