“It is really on the broker to do the right thing, because the typical investor doesn’t know enough to know if the broker and his firm have the investor’s interest at heart”. Read full article in The New…
Securities Fraud
“They need to get this [expungement] process out of arbitration and into the hands of regulators”! More in the InvestmentNews article…
‘‘I get the sense that mandatory arbitration will be allowed in the final rule”, Joseph Peiffer, president of the Public Investors Arbitration Bar Association (PIABA) in Norman, Okla., who testified during the hearing, told Bloomberg BNA on Sept. 2. More on the…
Frederick E. Monroe Jr Allegedly Orchestrated a $1.26 Million Ponzi Scheme, Soliciting Clients for Personal Checks that he Claimed Would Be Invested in Bonds for Their Retirement Frederick E. Monroe Jr, the senior vice president of a financial…
Joseph Peiffer’s testimony in support of extending the fiduciary duty standard to stockbrokers who recommend securities to their customers
Joseph Peiffer’s testimony details retiree horror stories during hearings on DOL fiduciary rule At the heart of the Department of Labor’s effort to finalize a new rule requiring advisors to act as fiduciaries to most 401(k) plans…
Joe Peiffer was recently quoted in On Wall Street about shortfalls in FINRA’s BrokerCheck service. BrokerCheck does not disclose complete information about brokers. Joe, as president of the Public Investors Arbitration Bar Association (PIABA), drafted a letter to…
Joe Peiffer was recently quoted in an article that appeared in the magazine Financial Planning. The article concerned brokers’ meaningless self-designations as “retirement specialists.” LPL Financial recently paid a fine of $250,000 in relation to ten of its…
07 May: Barry Bekkedam Accused of Securities Fraud in Connection with Scott Rothstein’s Ponzi Scheme
Barry R. Bekkedam, the former owner, Chairman, and CEO of Ballamor Capital Management, LLC, is accused of committing securities fraud by the Securities and Exchange Commission (“SEC”). From April through October 2009, Bekkedam encouraged his clients and others…
Harry Stokes orchestrated a Ponzi scheme and defrauded investors out of millions of dollars, according to a complaint filed in North Carolina state court. Stokes was licensed to sell investment products and owned an insurance firm, Contemporary Benefits…