Articles Posted in securities brokerage

Industry watchdogs turn their focus on Wells’ wealth-management services It seems that we may not have yet seen the end of the Wells Fargo accounts scandal. The Justice Department has taken an increased interest in Wells Fargo’s wealth-management unit following whistle-blower claims that the bank’s wealth-management customers have been affected. According to a Wall Street…

Customer Advisory Centers vs. Call Centers Although they sound similar, customer advisory centers differ from call centers in several important ways. Securities firms and investment broker-dealers typically rely on call centers to handle basic customer service issues and administrative functions. They do not provide investment or trading advice, nor do they earn commissions on trades…

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 records without precautions in place…

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 may also be used as…