PIABA Newsroom

PRESS RELEASE: CFA & PIABA: SEC Chair's Proposal on Investment Advice Should be Renamed "Regulation NBI (Not Best Interest)" (June 4, 2019)
REPORT: Clayton “BI” Proposal is a Step Backwards That Will Not End Conflicted Advice and Investor Confusion (June 4, 2019)
OPED: Finra proposal to restrict recidivist behavior a good start — but more needs to be done, By Christine Lazaro (May 14, 2019)
COMMENT LETTER: SR-FINRA-2019-009 - Request for Comment on Proposed Rule to Adopt Remaining Legacy NASD and Incorporated NYSE Rules as FINRA Rules (May 6, 2019)
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In the Media

House, Senate bills would ban mandatory arbitration in broker, adviser client contracts, By Mark Schoeff Jr.
InvestmentNews (December 11, 2019) - Measures would have to find GOP support for any hope of Senate approval. Recently introduced bills in the House and Senate would ban mandatory arbitration…
State regulators encourage brokerages to use insurance to fund arbitration losses, By Mark Schoeff Jr.
InvestmentNews (December 11, 2019) - NASAA says step would help address problem of unpaid arbitration awards State securities regulators encouraged brokerages Wednesday to use insurance to fund…
Hybrid Advisors Who Try to Avoid Finra Hearings Should Rethink That Strategy, Lawyers Say, By Miriam Rozen
Financial Advisor IQ (October 30, 2019) - Lawyers are warning against a particular style of venue-shopping more open to hybrid RIAs than any other type of advisory. The vast majority of advisors who…
Finra Advances Proposal To Allow Brokers To Expunge Their Records, By Tracey Longo
Financial Advisor (October 7, 2019) - Finra's board of directors advanced for public comment a proposal that will allow brokers to clear their record of customer disputes. The self-regulatory…
Trump Strongly Opposes House Bill Prohibiting Mandatory Arbitration, By Tracey Longo
Financial Advisor (September 24, 2019) - President Trump “strongly opposes” the newly-passed House bill to prohibit mandatory pre-dispute arbitration agreements and would likely veto such legislation…
Bill Ending Mandatory Arbitration In Advisor, Broker Contracts Clears House, By Tracey Longo
Financial Advisor (September 23, 2019) - The House has passed a bill that would prohibit mandatory arbitration in brokerage and advisor contracts, giving consumer advocates who have been fighting for…
Leading expungement attorney accuses Finra staff of trying to influence arbitrators, By Mark Schoeff Jr.
InvestmentNews (September 23, 2019) - Finra spokeswoman: Case staff advise arbitration panels on rules, procedures This story has been revised to indicate that under Finra rules, arbitrators must…
House approves bill that would end mandatory arbitration in broker, adviser contracts, By Mark Schoeff Jr.
InvestmentNews (September 20, 2019) - Legislation unlikely to get through Senate but sends a message for potential future action.  Advocates for prohibiting mandatory arbitration for investment…
How the SEC let an advisor about to be barred sell his firm to a buyer with red flags, By Ann Marsh
Financial Planning (September 5, 2019) - An advisor accused by the SEC of defrauding investors and eventually barred from the industry was allowed by the agency to choose the buyer of his firm,…
Bad RIAs are Just as Much a Problem as Bad Brokers, Lawyers Claim, By Garrett Keves
Financial Advisor IQ ( August 1, 2019) - As the old saying goes, one bad apple spoils the bunch. And although the vast majority of brokers are upstanding individuals with clean records and their…