Category: FINRA

Axing Continues at Deutsche Bank | Vernon Litigation Group

Some of the Biggest Wall Street Financial Institutions Continue Axing Thousands of Jobs Bankers and Financial Advisors for some of the biggest names in Wall Street have been receiving gloomy news for months now. For example, as it has been widely reported, approximately a month ago Deutsche Bank announced massive restructuring and downsizing that will affect approximately 18,000 employees by 2022.  But the layoffs have already begun. Unfortunately, many financial […]

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Bond Abuses Continue

Jun 1, 2017 / Blog Posts

The trend of brokerage firms abusing investor trust with respect to bonds continues with this month’s FINRA Disciplinary Actions (May 2017). This latest summary of disciplinary actions states that FMSbonds, Inc. (CRD #7793, Boca Raton, Florida) was censured and fined for its actions related to municipal bonds. We note this because just last month we wrote a detailed blog post about abuses in the bond world. The current political environment may […]

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Abuses in the Bond World Relate to Lack of Transparency and Conflicts of Interests

Last month’s FINRA Disciplinary Actions (April 2017) triggered this bond focused post. In April of 2017, FINRA took disciplinary action against J.P. Morgan Securities and Morgan Stanley Smith Barney related to their respective bond activities. Sadly, this is far from the first time that major firms such as JP Morgan and Morgan Stanley have been sanctioned by regulators. What is unique, however, is that both were sanctioned in the same […]

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FINRA Reforms Are Needed To Protect The Investing Public

Mar 28, 2017 / Blog Posts

Most investors in the United States must rely on the FINRA arbitration process to attempt to recover damages caused by investment professionals. Additionally, the investing public must rely primarily on FINRA regulators (along with the SEC) to protect investors from bad actors and bad actions of investment professionals. Unfortunately, many believe FINRA is not up to either job, much less both the regulatory and arbitration side of the investor watchdog […]

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