PIABA Newsroom

COMMENT LETTER: SR-FINRA-2020-007 - FINRA proposed rule change to suitability and non-cash compensation rules to clarify and conform rules to Reg BI (April 15, 2020)
COMMENT LETTER: S7-04-20 - SEC Names Rule Comment (April 15, 2020)
COMMENT LETTER: SR-FINRA-2020-005 - FINRA Proposed Rule Change to Apply Minimum Fees to Requests for Expungement of Customer Dispute Information (March 18, 2020)
COMMENT LETTER: S7-25-19 - Proposed Amendments to the Definition of "Accredited Investor" (March 16, 2020)
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In the Media

David P. Meyer Co-Authors Report on Flawed FINRA Expungement Process, Urging Regulators to Take Action, By Meyer Wilson
PRNewswire (May 21, 2021) - David P. Meyer, President of the Public Investors Advocate Bar Association (PIABA), has co-authored a new report on the FINRA expungement process. PIABA is an…
Investor Complaints Are Being Erased From Advisor Records. Why That’s a Problem, By Andrew Welsch
Barron's (May 20, 2021) - Brokers are erasing client complaints from their regulatory records at a brisk pace, potentially creating blindspots for state securities regulators and consumers, according…
It’s too easy for problem brokers to win expungement, Piaba says, By Andrew Foerch
CityWire (May 19, 2021) - The advocacy association is urging Finra to install an ‘independent investor advocate’ to bring balance to the process of arbitrating investor complaints. The Public…
Brokers Still Gaming BrokerCheck With New Tactics: PIABA, By Melanie Waddell
ThinkAdvisor (May 19, 2021) - Brokers have another tactic to get customer complaints expunged from the Financial Industry Regulatory Authority’s BrokerCheck, according to the Public Investors…
Brokers’ Expungement Success Should Prompt Bolstered Reforms: Plaintiff Lawyers, By Miriam Rozen
AdvisorHub (May 18, 2021) - The 90% success rate brokers have achieved in the past 15 months at winning expungements of customers’ complaints from their public records should alarm investors and…
PIABA finds arbitrators grant expungement 90% of the time, By InvestmentNews
InvestmentNews (May 18, 2021) - The Public Investors Advocate Bar Association released a report on recent expungement awards on Tuesday and renewed its call for the Financial Industry Regulatory…
With Broker Misconduct Expungements Soaring, PIABA Urges SEC To Step In, By Tracey Longo
Financial Advisor (May 18, 2021) - With expungement arbitration awards soaring 1,000%, the Finra plan to fix the system that allows registered reps to erase misconduct and customer complaints from…
The Tide Rises: Will Biden’s Blue Wave Wash Away Mandatory Arbitration? By Joseph Calabrese
JD Supra (May 10) - Congressional rumblings about outlawing mandatory arbitration clauses are relatively common, but they have not been successful. Ever since a hard-won battle in the 1980s, the…
PIABA nudges FINRA to resume face-to-face arbitration, By Andrew Foerch
Citywire (April 29, 2021) - David Meyer voiced strong opposition to FINRA's in-person hearing ban in a letter to Dispute Resolution Services director Richard Berry. Public Investors Advocate Bar…
Finra suspension of in-person arb hearings harms investors, PIABA says, By Mark Schoeff Jr.
Investment News (April 27, 2021) - The regulator has extended its postponement of in-person arbitration proceedings through July 2, but says it expects to resume normal proceedings in some locations…