PIABA Newsroom

COMMENT LETTER: FINRA Regulatory Notice 21-43 - FINRA Proposed Amendments to FINRA Rule 3240 and Retrospective Rule Review Report (February 14, 2022)
CONGRESSIONAL LETTER: Warren-Porter Letter to FINRA on Wells Fargo Scandal (February 9, 2022)
Statement of PIABA President About Judgment Finding Securities Industry-Sponsored Arbitration Provider, FINRA Dispute Resolution, Tipped The Scales to Favor Industry (February 2, 2022)
OPED: Costly forced arbitration against RIAs harms investors, By Christine Lazaro and Michael S. Edmiston (January 14, 2022)
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In the Media

Report Finds No Evidence of Side Deal Between Finra and Wirehouse Lawyer, By Miriam Rozen
AdvisorHub (June 29, 2022) - The outside law firm that the Financial Industry Regulatory Authority’s audit committee hired to review its arbitration process has rejected allegations about an improper…
FINRA orders National to pay $9M in latest alternative product case, By Tobias Salinger
Financial Planning (June 28, 2022) - A midsize wealth manager that’s under new ownership after a compliance overhaul agreed to its second major FINRA settlement this year relating to sales of…
Court Appears Set to Overturn Controversial Ruling That Wells Gamed Finra Arbitration, By Miriam Rozen
AdvisorHub (June 10, 2022) - A three-judge panel of the Court of Appeals of the State of Georgia showed skepticism about a trial court’s controversial ruling in January that vacated a 2019…
UBS Sues Investor for $1 Million in Attorneys Fees over ‘Frivolous’ Claim, By Miriam Rozen
AdvisorHub (June 7, 2022) - After beating back a $9.3 million claim from an investor in arbitration, UBS Financial Services has asked a court to hold them liable for its nearly $1 million in attorney…
Securities Group OKs Model Rule on Unpaid Arbitration, Judgments, By Alex Padalka
Financial Advisor IQ (May 25, 2022) - The rule makes it unethical or dishonest to fail to pay arbitration awards or monetary penalties ordered by regulators. The North American Securities…
Finra Advances Revised Proposal to Reform Broker Expungement Process, By Miriam Rozen
AdvisorHub (May 24, 2022) - The Financial Industry Regulatory Authority’s board of governors approved on Friday revisions to a previous proposal to initiate “special” arbitration procedures for…
NASAA Approves Model Rule Targeting Unpaid Arbitration Awards, By Patrick Donachie
Wealth Management (May 23, 2022) - President Melanie Senter Lubin said the rule would offer state regulators additional means to take action against registrants that don't pay up. The North American…
Finra Advances Revised Proposal to Reform Broker Expungement Process, By Miriam Rozen
AdvisorHub (May 23, 2022) - The Financial Industry Regulatory Authority’s board of governors approved on Friday revisions to a previous proposal to initiate “special” arbitration procedures for…
Consumer groups call for SEC probe of RIAs' use of mandatory arbitration, By Amanda Howard
Investment News (May 19, 2022) - Many funding advisory corporations put obligatory arbitration clauses of their purchasers’ contracts with out telling them and drive them into pricey arbitration…
Groups Want Probe of RIAs Over Mandatory Arbitration, By Alex Padalka
Financial Advisor IQ (May 19, 2022) - Registered investment advisor firms often force customers into forced arbitration that is costly and non-transparent, according to the groups. Several investor…