FINRA Investigating National Securities Broker

Financial Industry Regulatory Authority Investigating National Securities Broker FINRA has filed a complaint against broker Vito Balsamo alleging that Balsamo was “selling away” ownership interests in a limited liability company named V.W. Industries, LLC without getting prior written approval from his member firm. Selling away occurs when an investment professional sells or offers securities not […]

Department Of Labor Releases Proposal On Expanding Fiduciary Duties

Resources Know your rights, the relevant laws, and what questions to ask BEFORE you agree to an investment America’s individual and institutional investors have suffered enormous financial losses in recent years due to misrepresentations, omissions, and investment scams perpetrated by brokers and brokerage firms. The Frankowski Firm is dedicated to standing up for investors’ rights. […]

NYC Comptroller Wants Brokers To State They Are Not Fiduciaries

New York City comptroller Scott M. Stringer is pushing the state legislature to pass a law that would clarify the distinction between brokers and investment advisers to investors. Stringer’s proposal would mandate that all financial advisers directly state whether they must act in their clients’ best interests. “We need a uniform, national fiduciary standard, but […]

SEC Chairwoman Claims Fiduciary Battle Just Getting Started

SEC Chairwoman States Fiduciary Battle Is Just Beginning Mary Jo White, Chairwoman of the SEC, told legislators that the agency will continue at its own pace, over an extended period of time, to address raising investment advice standards for brokers. The agency will not be rushed by a similar Department of Labor rule currently pending. […]

SEC To Develop Fiduciary Rule For Brokers

SEC Set to Create Fiduciary Rules for Brokers SEC Chair Mary Jo White stated that the agency will create stricter rules for broker. By doing so, the SEC will enter a long-standing war between Wall Street and the White House, which has asserted that biased financial advice is costing investors millions of dollars. White’s comments […]

Georgia Financial Adviser Accused Of Defrauding Elderly Couple

The Frankowski Firm is continuing its investigation of Leavitt Sanders and the firms with which he has been associated as further allegations surface against them. John D. and Maxine S. Bankston of Lilburn, Georgia have accused financial adviser Leavitt Sanders of fraud and numerous securities violations. The couple, who are in their eighties, filed their […]

FINRA Sanctions Alabama Broker Terry Bagwell

Alabama stockbroker and supervisor Terry Bagwell submitted a Letter of Acceptance, Waiver, and Consent (“AWC”), accepting and consenting to FINRA’s findings that he violated the regulatory authority’s rules. Bagwell, who is currently associated with Pruco Securities, LLC, was the supervisor of a registered representative who sold eighteen individuals millions of dollars in investments as part […]

Frankowski Firm Investigating Leavitt F. Sanders And Associated Firms

The Frankowski Firm is investigating the potential claims of people who invested with Leavitt F. Sanders and the firms with which he has been associated (the “Sanders Entities”). These entities include: Leavitt Financial Group, Inc., Sanders Yearian Advisory Group, Inc., Triad Advisors, Inc., TD Ameritrade, Inc., IFC Holdings, Inc. d/b/a INVEST Financial Corporation, and Capital […]

Judges Declines To Dismiss Principal Investment Groups Excessive Fee Suit

U.S. District Judge John A. Jarvey, an Iowa federal judge, decided not to dismiss a case alleging investment managers Principal Management Corp. and Principal Global Investors, LLC took too much on fees they charged a retirement plan investing in particular mutual funds. Judge Jarvey ruled that American Chemical & Equipment Inc 401(K) Retirement Plan (ACE) […]

Investors Hope To Keep UBS Suit In Puerto Rico

A $5 million putative class of plaintiffs accusing UBS AG of soliciting to elderly investors risky mutual funds that ended up losing billions asked a Puerto Rico federal court last week to block UBS’ attempt to transfer the suit to New York, noting the strong ties the case has to Puerto Rico. The plaintiffs instead […]