stockmarketfraud.com blog (April 9, 2015) -- Not surprisingly, earlier this week, the securities arbitration defense bar issued a scathing reaction to the Public Investors Arbitration Bar Association (PIABA) study and resulting report (issued March 25 and the subject of an earlier blog) advertising and implied fiduciary duty.  They had no choice.  The findings in the PIABA report were to damning to be ignored. Unfortunately the subsequent response, much like the subject advertising, is misleading, makes light of the situation and is clearly intended to distract the reader from the main issue: Do brokerage firms in fact promise one thing in their advertising (a fiduciary type relationship) and then take an entirely different position when a complaint is filed? The PIABA report contains actual Answers in arbitration which would indicate the answer is yes!

Click here for the PIABA study and the response article (PIABA Trolls the Fiduciary Duty Debate).