Stock Market Loss Attorneys in the News
We’re proud to report that our partner, Hugh Berkson, has begun his term as President of PIABA, the Public Investors’ Arbitration Bar Association. PIABA, an international bar association with more than 400 members, is the largest US organization of lawyers who represent investors in arbitrations against stockbrokers. PIABA’s mission statement reads: The mission of PIABA more »
The Public Investors Arbitration Bar Association (PIABA) believes the SEC should increase the public comment period for the proposed merger of its independent arbitration division of the Financial Industry Regulatory Authority (FINRA) with its regulatory arm. PIABA President Hugh Berkson explains that the change could further reduce investor confidence.
The SEC approved regulations regarding crowdsourcing to allow small businesses to seek funding from ordinary people. Non-accredited investors can now invest up to $2,000 or 5% of their annual income in small scale fundraising projects. Many people are excited about the change, but Hugh Berkson expressed concern for the peril small investors may face.
Investors who use FINRA’s database to research brokers are not getting a complete picture due to the high rate of expungements. Almost 89% of brokers who have had settlements or awards granted to investors had this information removed from their records, making it difficult for investors to know who to trust. “A wholesale change needs more »
PIABA recently released a disappointing update to its 2013 report on the expungement of broker records following a settlement. Despite FINRA’s adopting PIABA recommendations two years ago, there continues to be a high rate (89%) of expungements granted. New recommendations were presented and Hugh Berkson stated that the wholesale changes must be made.