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Raymond James’ Customers Awarded $3.2 Million

A FINRA arbitration panel ordered Raymond James & Associates, Inc. to pay $3.2 million in damages to customers for unauthorized and reckless securities trading. The claimants are 29 clients of former Raymond James’ financial advisor named James Edward Lyons. The arbitration claim was brought against Raymond James and Shreveport, LA […]

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GPB Capital Officer Charged with Stealing Information from SEC

The Department of Justice has charged Michael Cohn, former Chief Compliance Officer of GPB Capital Holdings, for stealing information related to an SEC investigation. The U.S. Attorney’s Office for the Eastern District of New York charged Cohn with obstruction of justice, unauthorized computer access, and unauthorized disclosure. Cohn pled not […]

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Stifel Nicolaus Customers Awarded $1.5 Million

A FINRA arbitration panel ordered Stifel, Nicolaus & Company, Inc. to pay more than $1.5 million in damages for failing to properly supervise a Baltimore based financial advisor. Three customers of Kenneth Blumberg (CRD# 1585520), a financial advisor in Stifel’s Baltimore office, filed claims with FINRA.  The customers allege breach […]

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SEC Adopts Regulation Best Interest and Other Reforms Aimed at Protecting Retail Investors

Last week, the Securities and Exchange Commission passed a package of regulations aimed at reforming standards for brokers and financial advisors providing investment advice. According to the SEC, the regulations are “designed to enhance the quality and transparency of retail investors’ relationships with investment advisers and broker-dealers, bringing the legal […]

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