Financial Fraud and Securities Law News


November 1, 2016

Hugh Berkson, a Principal with the law firm of McCarthy, Lebit, Crystal & Liffman Co. LPA and a member of the firm’s Investor Advocacy team, has just concluded his one-year term as President of the Public Investors Arbitration Bar Association (“PIABA”). PIABA is national bar association dedicated to protecting investors’ rights. Hugh’s term was marked more »

June 29, 2016

Although FINFA received 51 recommendations from a task force designed to improve the arbitration process, it recently announced only a few modest changes to the system. The number of public arbitrators is expanded from 10 to 15 and attorneys can chair arbitrations after participating in one. Also, it will be easier to dismiss arbitration cases more »

June 29, 2016

New FINRA rules regarding nontraded REITs have some advisors crying off this investment. The rule requires advisers to report the actual value of those investments – less commissions to their clients, a practice many had avoided. Several experts view nontraded REITs as a money-maker for the advisor but not the client, as there is no more »

June 29, 2016

The SEC is struggling with the concept of an accredited investor, a system that was established in 1982 and has remained largely unchanged. The call to modify these rules comes at a time when more companies are choosing to stay private longer and avoid the expense of meeting the regulatory compliance requirements of a public more »

June 29, 2016

FINRA’s new CEO, Robert Cook, faces many challenges as long-simmering issues over transparency and investor protections are likely to boil over during his tenure. The organization has received sharp criticisms from congress and industry experts complain that efforts to address concerns are not effective. PIABA President Hugh Berkson notes that the BrokerCheck system developed by more »
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