Los Angeles Legal Issues Blog

Financial regulator proposes new rule

On behalf of Girard Bengali, APC on Monday, May 13, 2019. Most brokerage firms and brokers in California and throughout the country take steps to ensure compliance with applicable regulations. However, some do not make an effort to comply with the financial laws and regulations. To help combat this problem, FINRA has proposed a rule...

U.S. women’s national team files lawsuit

On behalf of Girard Bengali, APC on Monday, May 20, 2019. Soccer fans in California and throughout the country generally acknowledge that the women's national team has had more success than the men's team. However, the women's team has filed a gender discrimination claim against the U.S. Soccer Federation (USSF). The lawsuit claims that the...

FINRA COULD IMPOSE NEW REGULATIONS ON BROKER-DEALERS AND FIRMS

On behalf of Girard Bengali, APC on Tuesday, May 28, 2019. Brokers and financial firms in California and nationwide may be interested in a report that the Financial Industry Regulatory Authority could crack down on over 60 firms after proposing a new rule. The authority oversees over 3,700 broker-dealers engaged in securities transactions. While a FINRA executive...

THE INVESTIGATIVE ROLE OF FINRA IN THE FINANCIAL INDUSTRY

On behalf of Girard Bengali, APC posted in securities arbitration and litigation on Friday, May 24, 2019. Previous posts on this California blog have talked about the role the United States Securities and Exchange Commission, or SEC, plays in the regulation of those who trade in stocks, bonds and the like. However, there is another agency, legally independent from...

Tags: Securities Arbitration And Litigation

JUDGE RULES AGAINST LAW FIRM IN SANCTIONS MOTION

On behalf of Girard Bengali, APC on Thursday, May 2, 2019. Workers are generally entitled to equal pay and other protections based on gender and other attributes. A $100 million lawsuit against the law firm Morrison & Foerster LLP, which was originally founded in California and has an office in Los Angeles, claims that pregnant workers were...

FINRA SANCTIONS BROKER FOR UNDISCLOSED CUSTOMER LOAN

On behalf of Girard Bengali, APC on Monday, April 29, 2019. The Financial Industry Regulatory Authority (FINRA) suspended a prominent broker who provided financial services in California and across the country. The suspension came after the man allegedly borrowed $200,000 from one of his customers in 2013 without informing his employer at the time, LPL Financial. The...

OVERVIEW OF THE SEC’S ENFORCEMENT ACTIVITIES

On behalf of Girard Bengali, APC posted in securities arbitration and litigation on Friday, April 26, 2019. Many financial professionals in the Los Angeles area, basically all of those who trade in regulated stocks, bonds and other securities, may find themselves under investigation by the United States Securities and Exchange Commission, or SEC. The SEC is responsible for regulating...

Tags: Securities Arbitration And Litigation

MAN RECEIVES FINRA BAN IN BITCOIN CASE

On behalf of Girard Bengali, APC on Monday, April 22, 2019. The Financial Industry Regulatory Authority (FINRA) has recently banned a trader involved in a $1.5 million Bitcoin scheme. The trader told investors that they could buy the Bitcoin at a discount and receive higher than normal returns. According to FINRA, the money was sent to the...

CIVIL SUIT AGAINST SECURITIES AMERICA MAY HEAD TO ARBITRATION

On behalf of Girard Bengali, APC on Monday, April 15, 2019. Finance professionals in California and around the country who are accused of misconduct may face serious civil and criminal sanctions. A pending civil case against a brokerage firm called Securities America demonstrates the types of penalties that might be assessed. A former financial adviser who was...