PIABA Newsroom

PRESS RELEASE: PIABA: “Breakneck” Rush to Undermine Fiduciary Rule in Waning Days of Current Administration Should be Slowed Down Under New White House (December 16, 2020)
COMMENT LETTER: Regulatory Notice 20-34; Senior Investors Proposed Amendments to FINRA Rule 2165 and Retrospective Rule Review Report (December 4, 2020)
COMMENT LETTER: SR-FINRA-2020-038 - Proposed Rule Change to Amend FINRA Rules 5122 (Private Placements of Securities Issued by Members) and 5123 (Private Placements of Securities)(November 27, 2020)
COMMENT LETTER: SEC File Number S7-13-20 - Proposed Exemptive Order Granting Conditional Exemption from the Broker Registration Requirements of Section 15(a) of the Securities Exchange Act of 1934 for Certain Activities of Finders (November 12, 2020)
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In the Media

Group Seeks End To RIAs Forcing Costly Arbitration On Clients, By Tracey Longo
Financial Advisor (January 21, 2022) - The Public Investors Advocate Bar Association (PIABA) says it has begun lobbying the SEC to either do away with the forced arbitration clauses RIAs foist upon…
Crypto and promissory notes are top fraud threats in 2022, By Tobias Salinger
Financial Planning (January 10, 2022) - With faster and more user-friendly investment technology comes greater risks to clients vulnerable to fraud, according to state regulators. Cryptocurrency and…
J.P. Morgan Ordered to Pay $4 Million to Client of Former Star Producer, By Jake Martin
AdvisorHub (December 10) - J.P. Morgan Advisors was ordered to pay $4 million in damages to a former client of a top-producer in San Francisco who has been beset by customer claims over last year’s…
Senior Financial Abuse Fight Needs More Cooperation By Government Agencies, SEC Told, By Ted Knutson
Forbes (December 2, 2021) - The Securities and Exchange Commission was told by experts Thursday greater cooperation between government agencies at the federal, state, and local levels and the private…
Client attorneys say RIAs force disputes into costly arbitration, By Tobias Salinger
Financial Planning (November 23, 2021) - RIA clients seeking compensation for losses as a result of advisors’ harmful conduct may have an even smaller chance of success than customers of dually…
Bill Barring Binding Arbitration Agreements Passes in House Panel, By Alex Padalka
Financial Advisor IQ (November 18, 2021) - The House of Representatives' Financial Services Committee has passed a bill first introduced eight years ago that would prohibit broker-dealers, investment…
Bill to end mandatory arbitration faces steep climb in Senate, By Mark Schoeff, Jr.
Investment News (November 17, 2021) - Democrats back the legislation, but Republicans are united against it. While the measure was passed by a House committee, an advocate calls winning congressional…
Wall Street Is Not Only Rigging Markets, It’s Also Rigging the Outcome of its Private Trials, By Pam Martens, Russ Martens
CounterPunch (November 15, 2021) - When it comes to sycophants, Wall Street has no shortage of them willing to shill for its egregious private justice system called mandatory arbitration – a system…
Industry, investor advocates differ on NASAA’s unpaid arbitration model rule, By Mark Schoeff Jr.
Investment News (November 12, 2021) - Generally, financial industry groups encouraged state regulators to narrow the measure, while advocates want them to expand it. State securities regulators are…
Investor Attorneys Support Advisor Expulsion for Unpaid Arbitration Awards, By Tracey Longo
Financial Advisor (November 8, 2021) - Groups representing investor attorneys are throwing their support behind a proposal rule that would allow state securities regulators to expel or suspend…