PIABA Newsroom

OPED: Costly forced arbitration against RIAs harms investors, By Christine Lazaro and Michael S. Edmiston (January 14, 2022)
COMMENT LETTER: OFR Bill Reforming Chapter 517 - Recommendation to Support Florida's Office of Financial Regulation Ch. 517 Reform Legislation (January 3, 2022)
Statement by Christine Lazaro for the SEC Investor Advisory Committee Meeting (December 2, 2021)
PRESS RELEASE: Statement of PIABA President on NASAA’s Phase II Report on Regulation Best Interest (November 4, 2021)
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In the Media

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…
Investor Advocates Urge SEC Probe Of RIAs' Pricey Forced Arbitration, By Tracey Longo
Financial Advisor (May 19, 2022) - A coalition of investor advocates are urging the SEC to investigate registered investment advisors' use of predispute arbitration clauses that allegedly force…
Consumer groups call for SEC probe of RIAs' use of mandatory arbitration, By Mark Schoeff Jr.
Investment News (May 18, 2022) - RIAs aren't adequately disclosing arbitration clauses in client contracts and are forcing clients into expensive dispute forums, the groups said. Many funding…
Finra Considers Having A Regulator Take Over Broker Expungements, By Tracey Longo
Financial Advisor (May 18, 2022) -  The Financial Industry Regulatory Authority is considering overhauling its scandal-plagued process for reps trying to erase customer complaints from their records…
SEC’s Gensler sees ‘opportunity’ for tougher complex product rules, By Tobias Salinger
FinancialPlanning (May 16, 2022) - Add SEC Chair Gary Gensler to the growing chorus of regulators and critics calling for tougher rules over complex products, despite accompanying cries of protest…
Wells Fargo Investors Support Lawsuit Alleging Firm Rigged Arbitration Case, By Tracey Longo
Financial Advisor (May 12, 2022) - The saga of Wells Fargo’s “secret deal” with an Finra arbitrator has taken another turn, with investors filing a brief supporting a judge’s January decision to…
PIABA Pushes FINRA For Stronger Complex Product Regs, By Patrick Donachie
Wealth Management (May 11, 2022) - Asset managers and many advisors are waving red flags around FINRA's proposal to craft new rules for "complex products," which could make it harder to invest in…