PIABA Newsroom

PRESS RELEASE: Leading Worker, Consumer and Investor Advocates Urge SEC to Investigate RIA Mandatory Arbitration (May 18 2022)
COMMENT LETTER: FINRA Regulatory Notice 22-09 - FINRA Proposed Rule to Accelerate Processing of Arbitration Proceedings for Seriously Il or Elderly Parties (May 16, 2022)
COMMENT LETTER: FINRA Regulatory Notice 22-08 - Comment on Sales Practice Obligations for Complex Products and Options (May 9, 2022)
COMMENT LETTER: Compliance Assistance Release No. 2022-01 401(k) Plan Investments in "Cryptocurrencies" (April 26, 2022)
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In the Media

PIABA: FINRA Rules on Residential Offices 'Fundamentally Flawed', By Patrick Donachie
Wealth Management (November 28, 2022) - The proposed rule would make remote examinations of the residential offices a permanent part of FINRA's process, but PIABA President Hugh Berkson warns it…
Off the record: Brokers have until Dec. 7 to comment on FINRA expungement proposal, By Dan Shaw
Financial Planning (November 18, 2022) - Brokers have until Dec. 7 to comment on an amended rule that would make it harder for them to have customer complaints expunged from the online database…
Expungement Rule Proposal Delayed Again As Finra Tightens Reforms, By Miriam Rozen
AdvisorHub (November 11, 2022) - The Financial Industry Regulatory Authority has once again revised and delayed a proposed rule change aimed at tightening the process for brokers to expunge customer…
New PIABA President Looks Toward Investors’ Volatility Concerns, By Patrick Donachie
Wealth Management (November 8, 2022) - In a discussion with WealthManagement.com, Hugh Berkson said the organization will continue to raise awareness of the issue of unpaid arbitration awards and the…
SEC seeks more input on Finra proposal to allow supervision from home offices, By Mark Schoeff Jr.
Investment News (November 2, 2022) - State regulators and PIABA have questioned whether a residential supervisory location would provide appropriate investor protection. Finra is trying to update…
Clients Remain Patient Despite Market Volatility, Brokers and Plaintiff Lawyers Say, By Miriam Rozen
AdvisorHub (October 20, 2022) - Many clients are showing patience, and the onslaught of lawsuits or complaints that often crop up in the aftermath of severe market shocks has not set in despite…
The golden loophole: How metals sellers avoid regulatory scrutiny, By Andrew Foerch
Citywire RIA (October 13, 2022) -  ‘You have a best interest standard in the brokerage world. You have a fiduciary standard for RIAs. In precious metals, there is no standard.’ As stocks and bonds…
SEC urged to revise strategic plan to address RIA arbitration, threats to senior investors, By Mark Schoeff Jr.
InvestmentNews (October 4, 2022) - Comments from the Chamber of Commerce focused on making enforcement fairer, while organizations disagreed about who should be eligible to participate in private…
FINRA scraps max fines for various financial violations, By Dan Shaw
Financial Planning (September 29, 2022) - FINRA is saying there should be no limit on fines for violations like excessive trading and recommending tailored penalties for individual advisors and small…
FINRA Takes ‘First Step’ to Improve Arbitrator Selection Process, By Melanie Waddell
ThinkAdvisor (September 16, 2022) - The Financial Industry Regulatory Authority is seeking approval from the Securities and Exchange Commission to provide greater transparency and consistency…