In a recent decision of the FINRA Regulatory Authority (FINRA), Andrey V. Tkatchenko was fined $10,000.00 and given a 15-day business suspension for marking trade tickets and trade confirmation relating to stock purchase transactions as being unsolicited, when in fact they were solicited. FINRA Rule 3110(a) requires that FINRA member firms “make and preserve […]
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MetLife, Prudential, John Hancock, Manulife Financial, Verus Financial, LLC Agree to Forty Million Dollar Settlement Relating to Unclaimed Death Benefits
Metropolitan Life Insurance Company agreed to pay forty million dollars to settle a multi-state probe of its alleged mishandling of insurance policy death benefits. The Wall Street Journal (http://online.wsj.com/article/SB10001424052702303592404577361983469311186.html) reports that the deal could lead to more than four hundred million dollars in payments to the heirs of certain life insurance policyholders, who were allegedly […]
Read PostFINRA Broker/Check Offers Small Investors an Opportunity to Investigate their Brokers
The Financial Industry Regulatory Authority (FINRA), the self-regulatory entity responsible for the administration of examinations for stockbrokers and financial advisors, maintains its BrokerCheck website at http://www.finra.org/Investors/ToolsCalculators/BrokerCheck/. This website can be used to easily access readily-available information about your stockbroker. This information includes the examinations they have successfully completed, how long they have been Registered Representatives […]
Read PostFINRA Requires Verification of e-Mailed Instructions to Transmit or Withdraw Assets From Customer Accounts
In FINRA Regulatory Notice 12-05 (Jan. 2012), the Financial Industry Regulatory Authority (FINRA) cited an increase in the number of reported cases of money stolen from customer accounts as a result of bogus e-mail instructions from e-mail accounts of customers, which had been hacked by scam artists. In addition to FINRA’s recent notice, the Federal […]
Read PostVermont Investors Entitled to Protections Under the Vermont Consumer Protection Law
The State of Vermont Legislature has passed consumer fraud laws to protect Vermont citizens from unfair and deceptive business practices. These laws are also designed to encourage a commercial environment highlighted by integrity and fairness. Relief is available to defrauded consumers under Vermont’s consumer fraud laws (9 V.S.A. §2451, et seq.). This law was enacted […]
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- Securities Litigation
- Securities Brokerage Mediation
- Transfer on Death (TOD) and Death Beneficiary Accounts and the Perils of DIY Estate Planning
- A Successful Will Contest
- SEC Issues Required Investor Disclosures for Variable Annuities and Variable Life Insurance Contracts