PIABA Newsroom

AMICUS BRIEF: Antonio Jubis Zacarias v. Ralph S. Janvey and Barry L. Rupert v. Ralph S. Janvey, Nos 19-1402 and 19-1411, Brief of Amicus Curiae PIABA in Support of Petitioners, 5th Cir. (July 23, 2020)
DOL FACT SHEET: DOL Rule Would Expose Vulnerable Retirement Savers to Harmful Advice (July 16, 2020)
COMMENT LETTER: NASAA Proposed Whistleblower Model Act (June 29, 2020)
PRESS RELEASE While American Workers Face Ongoing Struggle to Save for Retirement, DOL Appears Poised to Strip Them of Important Protections (June 23, 2020)
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In the Media

As Unpaid Arbitration Awards Soar, Finra Urged To Create Investor Pool, By Tracey Longo
Financial Advisor (September 29, 2021) - Nearly one out of four dollars awarded to investors in 2020 went unpaid, even as many brokerage firms’ profits grew to record levels, according to a new…
New NASAA President to Prioritize Expungements, Digital Assets, By Patrick Donachie
Wealth Management (September 22, 2021) - In her first address as the 104th president of the North American Securities Administrators Association, Maryland Securities Commissioner Melanie Senter Lubin…
New NASAA Leader Calls for Expungement Reform, By Mark Schoeff Jr.
InvestmentNews (September 21, 2021) - The new leader of the umbrella organization for state securities regulators took office Tuesday promising to work on making it harder for brokers to clear their…
Ex-Merrill Superstar Phil Scott Swings and Misses with Expungement Requests, By Jake Martin
AdvisorHub (September 16, 2021) - Former Merrill Lynch superstar Phil Scott, who last year took his $18 million-producing team in the Seattle suburbs to First Republic, struck out in an attempt to…
Finra's Risky Broker-Dealer Rule Has Significant Gaps, PIABA President Says, By Tracey Longo
Financial Advisor (August 4, 2021) - The Financial Industry Regulatory Authority’s rule to require risky broker-dealers to set aside funds in reserve to pay arbitration awards and other regulatory…
Rep. Horsford introduces bill to end double taxation on consumers who win lawsuits, By Dave Kovaleski
Financial Regulation News (July 21, 2021) - U.S. Rep. Steven Horsford (D-NV) introduced legislation that seeks to provide tax relief for people who win consumer protection lawsuits. The End Double…
Congressman Horsford Introduces Bill to Protect Nevadans from Unfair Double Taxation of Consumer Settlements, By Geneva Kropper
Congressman Steven Horsford (July 19, 2021) - WASHINGTON, D.C. — Congressman Steven Horsford (D-NV-04) has introduced the End Double Taxation of Successful Consumer Claims Act, which would help…
Finra Withdraws Expungement Proposal Amid Sharp Criticism, By Andrew Welsch
Barron's (June 10, 2021) - Wall Street regulator Finra has temporarily withdrawn a proposal to change the process by which advisors can remove client complaints from their regulatory records. Finra…
FINRA Withdraws Proposed Expungement Rule Changes from SEC Consideration, By Joel Everest, David Hantman, Laura Pizzitola
JD Supra (June 3, 2021) - On September 22, 2020, FINRA sent proposed rule changes designed to overhaul the expungement process to the SEC for approval. On Friday May 28, 2021 – the same day the SEC…
20-Year UBS Vet Wins Expungement of YES Option Complaint, By Jake Martin
AdvisorHub (June 1, 2021) - A Financial Industry Regulatory Authority arbitrator granted a 20-year UBS Wealth Management USA broker in South Carolina expungement of a 2019 complaint related to the…