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Monthly Archives: May 2014

Is Your Broker Honest?

By Tom Costello of Costello Law Group After incidents like the Bernie Madoff scandal, it is extremely hard for investors to trust their brokers. There is no real or possible way to tell if your broker is being 100% honest with you. The Public Investors Arbitration Bar Association (PIABA) recently criticized the Financial […]

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SEC Allowing Third- Party Review Site Testimonials

By Tom Costello of Costello Law Group Many brokerage firms and advisors have been experiencing difficulty with clashes between social media endorsements and the Securities and Exchange Commission (SEC) Rule 206(4)-1. This rule deals with testimonials and previously did not provide enough guidance to clearly outline protocol for social media sites and other […]

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Ameriprise Financial Ordered to Pay Elderly Couple $1.17 Million

By Tom Costello of Costello Law Group A FINRA arbitration panel ordered Ameriprise Financial Services Inc. to pay $1.17 million to an elderly couple after advising them to invest their retirement savings in speculative real estate investments. According to the award, Ameriprise had advised the couple to invest over $1 million of their […]

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FINRA sees an Increase in Case Load

By Tom Costello of Costello Law Group The Financial Industry Regulatory Authority (FINRA) announced that the number of first quarter filings has increased from last year. According to FINRA, 1,011 cases were filed in this year’s first quarter compared to last year’s first quarter which was only 919 cases. Some believe the heavier […]

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FINRA sees an Increase in Case Load

By Tom Costello of Costello Law Group The Financial Industry Regulatory Authority (FINRA) announced that the number of first quarter filings has increased from last year. According to FINRA, 1,011 cases were filed in this year’s first quarter compared to last year’s first quarter which was only 919 cases. Some believe the heavier […]

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