“The securities arbitration system is slanted to assist the brokerage industry, and this is the reason the industry has fought so hard to maintain it,” says Scott Starr. He adds, “Securities arbitration should be optional — not mandatory — so that the defrauded investor and his attorney have the option of a real judge conducting a trial.”
Straight Talk
A recent verdict entered against a transportation broker for negligent hiring should motivate companies to revisit their own company policies regarding the qualification and selection of motor carriers. In 2012, an Oregon jury awarded several million dollars to the family of a man who was killed by a commercial motor vehicle. The verdict in the [...]
A Financial Industry Regulatory Authority Inc. hearing panel dismissed two of three counts FINRA brought against Charles Schwab Corp. a year ago in a case involving Schwab’s pre-dispute arbitration agreements. According to the panel, the language used in Schwab’s customer agreements to prohibit participation in judicial class actions violates FINRA’s rules. However, FINRA may not [...]
Retirement savers across the U.S. are experiencing steep losses of their investments made in complex financial products that until a few years ago were sold only to the most sophisticated investors. The victims are among the millions of Americans whose stock portfolios and mutual funds tanked during the recent financial crisis. These investors are now [...]
The recent uptick of distracted driving lawsuits and hefty jury verdicts provides a lesson for companies: have a clear cell phone use policy in place and consider banning all cell phone use by employees using company vehicles. The May 2012 jury verdict in the ChatmanWilson v. Cabral case illustrates the hefty penalties being handed down. [...]
In a recent article for Investment News, Mark Schoeff Jr. reported that leaders of the Securities Industry and Financial Markets Association (SIFMA) have called on the Securities and Exchange Commission (SEC) to implement regulation that would force investment advisors and brokers to meet the same standard of care for investment advice.
Deterioration of fall protection is one reason why injuries and deaths from severe falls at work sites go up. Factors include: • Deterioration of equipment with repeated use and exposure. • Equipment is not inspected enough for wear and tear. • No proper training provided. • Wrong equipment is selected for the job and not [...]
Investments need to match your goals and tolerance for risk. Brokers are legally responsible for putting you in investments appropriate for your experience, net worth, annual income, investment objectives and other factors. Brokers, however, may abandon their obligations, given a chance to make themselves a profit. For instance, they may tout high-risk investments that are [...]
The Department of Labor and the Securities and Exchange Commission have been considering a change in the definition of “fiduciary” under the Employee Retirement Income Security Act of 1974 (ERISA) and its amendments. In the light of this possible change, an insurance question arises: Who qualifies as a fiduciary and who needs to have fiduciary [...]
Is your workplace a safe and healthy place to be? Sometimes workplaces don’t follow all the necessary standards. Here are the top ten most violated health and safety standards from 2,300 inspections conducted by the Indiana Occupational Safety and Health Administration (IOSHA) in 2010. The inspections resulted from formal employee complaints, referrals made by the [...]