PIABA Newsroom

COMMENT LETTER: RIN 1210-AB32 - Definition of the Term "Fiduciary''; Conflict of Interest Rule -- Retirement Investment Advice (September 24, 2015)
COMMENT LETTER: SR-FINRA-2015-029 - Proposed Rule Change to Adopt FINRA Rule 3210 (Accounts At Other Broker-Dealers and Financial Institutions) in the Consolidated FINRA Rulebook (September 3, 2015)
CONGRESSIONAL TESTIMONY: Statement for the Record Submitted to the United States Department of Labor Employee Benefits Security Administration on Conflict of Interest Proposed Rule (August 11, 2015)
PRESS RELEASE: Attorney Representing 500+ Investors in Conflicted Advice Cases: Hold Brokerage Firms Responsible for Fiduciary Duty They Already Tell Investors They Have (August 11, 2015)
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In the Media

Finra Will Bar Brokers Who Don’t Pay Arb Fines
FinancialAdvisorIQ (March 7, 2016) -- Finra’s chief Richard Ketchum says the agency is analyzing the legal environment that lets advisor practices avoid paying arbitration awards and is ready to…
This One Photo Captures Why Americans Can’t Win Against Wall Street, by Pam Martens and Russ Martens
Wall Street On Parade (March 4, 2016) -- There are 15 U.S. Senators who are members of the U.S. Senate Banking Committee’s Subcommittee on Securities, Insurance, and Investment that has been…
Wall St. critic Warren grills Finra's Ketchum on regulator's ability to protect investors, by Mark Schoeff, Jr.
The U.S. senator raised doubts on Thursday about whether the financial industry can police itselfInvestmentNews (March 3, 2016 12:49 pm) -- Sen. Elizabeth Warren, D-Mass., a leading Wall Street…
FINRA Mulls Crackdown on Arb Award Deadbeats
Sen. Elizabeth Warren took FINRA's Ketchum to task Thursday over a PIABA report finding that investors are stiffed out of their arb awardsThinkAdvisor.com (March 3, 2016) -- The Financial Industry…
FINRA Ejecting Firms That Skip Out on Arbitration Bills, by Megan Leonhardt
WealthManagement.com (March 3, 2016) -- For firms that don’t pay their arbitration awards, Wall Street’s self-regulator plans to bar them from the industry and could seek to impose new rules to make…
In arbitration cases, wronged investors win but never collect, Brian J. O'Connor
Chicago Tribune (February 29, 2016 8:30 am) -- Bump!Bump!Bump!Oh, hi there. Did you just come in? I didn’t hear you, what with pounding my head against the wall here.First, let me just wish you a…
One Out of Three FINRA Arbitration Awards Go Unpaid, PIABA Report Says, by Kevin Kulling, J.D.
Jim Hamilton's World of Securities Regulation (February 29, 2016) -- One out of three investor awards from FINRA arbitrations brought in 2013 have not been paid, according to a report issued by the…
One Out of Three FINRA Arbitration Awards Go Unpaid, PIABA Report Says, by Kevin Kulling, J.D.
Jim Hamilton's World of Securities Regulation (February 29, 2016) -- One out of three investor awards from FINRA arbitrations brought in 2013 have not been paid, according to a report issued by the…
Finra Lets Some Arbitration Awards Slip Through Cracks, by Alex Padalka
Financial Advisor IQ (February 29, 2016) -- Winning a Finra arbitration case against an advisor is only half the battle for many investors, it seems. In 2013, up to a third of the awards went unpaid…
In arbitration cases, wronged investors win but never collect, Brian J. O'Connor
Tribune Content Agency (Funny Money February 29, 2016) -- Bump!Bump!Bump!Oh, hi there. Did you just come in? I didn’t hear you, what with pounding my head against the wall here.First, let me just…