Close

Securities

Filing FINRA Arbitration Claims

On behalf of Thomas Costello of Costello Law Group SUMMARY: Virtually all account opening documents signed by investors contain mandatory arbitration agreements, whereby investors (and the brokerage firms) waive their right to trial in a court of law. Thus, to pursue legal action against financial entities, investors are required to file their claims […]

Continue Reading

Search FINRA Arbitration Awards

FINRA offers an online search resource for conducting web-based searches for FINRA and historical NASD arbitration awards. The service is free of charge and available 24/7. Users can research FINRA awards, as well as historical awards for the New York Stock Exchange (NYSE), American Stock Exchange, the Philadelphia Stock Exchange […]

Continue Reading

FBI arrests couple accused of Ponzi scheme

Bloomberg reports that the FBI has captured Perry and Rachelle Griggs, a couple accused of swindling approximately $3 million from investors through their Aloha Trading investment program. The investors are all relatives of inmates who Perry Griggs served time with at a Nevada prison. In October, a federal grand jury […]

Continue Reading

Citigroup fined and censured by FINRA

The Financial Industry Regulatory Authority (FINRA) censured Citigroup for failing to report transactions promptly to its Trade Reporting and Compliance Engine (TRACE). According to FINRA’s December report of disciplinary actions, Citigroup was fined $400,000 and ordered to pay $10,099 in restitution to customers.

Continue Reading