Monthly Archives: December 2013

FINRA’s Efforts to Minimize Rogue Brokers

By Tom Costello of Costello Law Group The Financial Industry Regulatory Authority (FINRA) has reported that they will begin to put more focus on high risk brokers in an effort to improve investor protection. FINRA currently licenses 634,955 brokers, and of those 634,955 only 487,480 brokers possess clean records. The Wall Street Journal […]

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Former JP Morgan Brokers Barred After Stealing $300k from Elderly Client

By Tom Costello of Costello Law Group  After wrongfully converting funds and failing to cooperate with the Financial Industry Regulatory Authorities’ (FINRA’s) investigation, two former JP Morgan Chase brokers were barred from the securities industry. Fernando Arevalo and Jimmy Caballero allegedly stole $300,000 from an elderly client. According to FINRA, the two did […]

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