Browsing Category "Marc’s Blog"

FINRA arbitrator removed from panel for salty language.

FINRA arbitrator removed from panel for salty language.

Posted by on Jan 30, 2014 in Marc's Blog

I’ve seen impatience.  I’ve seen incompetence.  I’ve seen boredom.  And, yes, I’ve seen arbitrators who have fallen asleep.  But a couple of weeks ago, in a FINRA securities arbitration, I witnessed something unlike I had ever seen. I was supposed […]

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Welcome to Anthony Aiello at Laidlaw & Company (UK) Ltd, the latest cold call cowboy.

Welcome to Anthony Aiello at Laidlaw & Company (UK) Ltd, the latest cold call cowboy.

Posted by on Jan 16, 2014 in securities, Stockbroker issues

Today’s entrant in the cold caller race is Anthony Aiello.  Anthony hails from New York, of course, and works for Laidlaw & Company. Anthony tried to remind me of a phone call we had “last April” where he supposedly gave […]

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PIABA shows its true colors, but is unsure what those colors are.

PIABA shows its true colors, but is unsure what those colors are.

Posted by on Jan 8, 2014 in Marc's Blog

Remember PIABA? This is the organization that was formed about 20 years ago.  Its genesis was getting a bunch of claimants’ lawyers together to take on the brokerage firms which, at the time, were fighting limited partnership cases tooth and nail. […]

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The All Public FINRA Arbitration Panel Made No Difference This Year.

The All Public FINRA Arbitration Panel Made No Difference This Year.

Posted by on Jan 6, 2014 in Marc's Blog

FINRA has released its statistics through November 2013.  Surprise!  The results are not statistically different.  You can see the table here.  You have to go all the way to the bottom.  FINRA buries this comparison there. In November of last year […]

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Brokerage firm learns a lesson about stubbornness in arbitration.

Brokerage firm learns a lesson about stubbornness in arbitration.

Posted by on Dec 20, 2013 in Marc's Blog

A client approached us last year. He had retired from an independent-style brokerage firm and sold his book of business to another broker. He had signed a “Continuing commission” agreement with the broker and the firm. He was was supposed […]

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UBS forcing out more producers, encouraging expensive financial plans.

UBS forcing out more producers, encouraging expensive financial plans.

Posted by on Dec 4, 2013 in Marc's Blog

OnWallStreet reports that UBS is tinkering with its payout structure. This is not good news for employees or investors. First, brokers will be paid a 50% payout on financial plans costing $1,000 or more. Huh? There better be some gold […]

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Leave this earth better than when you got here.

Leave this earth better than when you got here.

Posted by on Nov 19, 2013 in Marc's Blog

An old friend, I’ll call him David (because that’s his real name and I don’t think he’s embarrassed to know me) called me last night. He was on the way home from the wake for a lawyer we both knew, […]

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Jerry or Gerry From EJ Sterling, Inc. – Welcome to the Cold Caller List

Jerry or Gerry From EJ Sterling, Inc. – Welcome to the Cold Caller List

Posted by on Nov 4, 2013 in Marc's Blog

Got a call from 370666149, which is not a real phone number. The person shouting at me at the other end of the phone was “Jerry” or “Gerry” an alleged stockbroker from EJ Sterling, Inc. He talked very fast and […]

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The FINRA All Public Arbitration Panel Revisited

The FINRA All Public Arbitration Panel Revisited

Posted by on Nov 4, 2013 in arbitration, FINRA, Marc's Blog

Two months ago, I wrote a post about FINRA All-Public panels and how they don’t seem to make a difference. FINRA has released its statistics through September 2013 here. Guess what? Nothing has changed. The number of cases decided by […]

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A new entrant in the cold call contest – Jack Fitzpatrick from Blackbook Capital

A new entrant in the cold call contest – Jack Fitzpatrick from Blackbook Capital

Posted by on Oct 28, 2013 in Marc's Blog

I received a call today from Jack Fitzpatrick from Blackbook Securities. Jack told me that he was following up on a conversation we had on September 30 about a particular company. This was a baldfaced lie. He said the company […]

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