After eight complaints, and two regulatory proceedings, the Securities and Exchange Commission finally takes action and settles claims against stockbroker for defrauding disabled group of elderly nuns.

Paul G. Chironis, a stockbroker with Capital Growth Financial, Inc., with a significant history of customer initiated, investment related com...

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 Legal claims or lawsuits against stockbrokers for fraud, the sale of unsuitable investments, breach of fiduciary duty, and the failure to supervise, universally, and only in the rarest exception, are required to be litigated or arbitrated before FINRA, the Financial Industry Regulatory Authority, Office of Dispute Resolution, where until recently, at least one member of the arbitration panel sitting in judgment of a customer’s claim, was required to be an "industry" or "non-public" arbitrator employed by, or with some connection to, the securities industry...

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The New York Stock Exchange disciplined former Morgan Stanley stockbroker Charles Winitch of Scarsdale, New York, for unauthorized trading, churning or excessive activity, and breach of fiduciary duty with respect to the accounts of his customers.

Mr. Winitch’s fraudulent conduct, however, relates to the accounts of children, who each received large sums of money as a result of medical malpractice claims, which was to be used for their long term care and living expenses.<...

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FINRA announced today that it filed a notice seeking a Temporary Cease and Desist Order (TCDO) against San Antonio-based brokerage Pinnacle Partners Financial Corporation and its President, Brian K. Alfaro. The TCDO would halt allegedly fraudulent and illegal sales activities at the firm relating to eight unregistered private placement offerings selling interests in oil and gas joint ventures. FINRA is seeking the order based on belief that customer harm and depletion of customer assets will likely ...

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Larry Hagman, better known as JR Ewing, or my favorite: Major Nelson, appears to have won an $11 million award against Citigroup.

Not only did the Panel award Mr. Hagman compensatory damages in the amount of $1.098,386.00, but also award Mr. Hagman attorney's fees of $439,354.40.

In addition, the Panel also ordered that Citigroup pay $10,000,000 directly to the IRS Tax-Exempt 501 c(3) charitable organization(s) of Mr. Hagman's choice.  Notwithstanding the outrageous circumstances warranting the imposition of punitive damages, Citigroup...

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