Bitcoin – Big Coin – Bitcoin – Big Coin… Read that over a few times. Are those two words beginning to sound similar? That’s what the founders of My Big Coin, Inc. were hoping when they created their cryptocurrency investment offering. The Nevada-based company has been accused of defrauding investors…
It’s Not Personal, Its Just Business In business, there are bound to be disagreements. Whether it is a contract dispute or failed negotiation, business disputes are going to occur. It’s usually not personal, but business disputes can be a major roadblock and source of stress, especially when handled improperly. Settling…
Many passive investors are happy just leaving their investments at the hands of their brokerage firms. Many investors opt review brokerage activity via a monthly overview statement rather than from a hands-on approach. Broker-dealers handling investment accounts are free to make most decisions on quantity and frequency of investment securities.…
The Financial Industry Regulation Authority (FINRA) announced fines against 12 securities firms for their failure to accurately protect consumer records. FINRA carried out fines, totaling $14.4 million, against 12 securities brokerage firms, including some of the largest-backed firms in the country. FINRA found that these firms storing broker-dealer and consumer…
Ever wonder about how customer disputes are resolved between investors and broker-dealers? Is a lawsuit necessary? Do you need to hire a lawyer? Settling Customer Disputes Usually, disputes over securities brokerage/trading are settled through arbitration as opposed to traditional litigation. Though arbitration is the primary form of dispute resolution, mediation…
Insecure Financial Securities Last week, the Financial Industry Regulatory Authority (FINRA) handed out a $650,000 fine to a broker-dealer in the Lincoln Financial Network. The industry watchdog group found that the independent broker-dealer in Lincoln Financial’s network allowed thousands of customers’ data to be exposed to foreign hackers. Similarly FINRA also found…
Anytime you decide to invest, you always do background research on the asset or security, right? It is important to know the why and how of an asset or security’s performance before deciding to invest. Shouldn’t this be the same for your investment broker? Whatever security in which you invest,…
Brokerage oversight is getting a fresh pair of eyes This week, the Securities and Exchange Commission (SEC) indicated that it would be calling on a need for more oversight from its financial regulation partner, the Financial Industry Regulatory Authority (FINRA). The decision to shift responsibility comes with an SEC initiative…