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We have filed several FINRA arbitrations on behalf of Wells Fargo brokerage account customers to recover losses suffered in Puerto Rican bonds. These customers were elderly or retired with conservative and low risk investment objectives who sought to preserve principal while earning income. During 2011 through 2014, these brokerage customers […]
If you owned a school bus company, you would make sure that your drivers don’t have DWIs on their records or a history of fender benders before you put them in charge of driving children to school. Is Wall Street performing the same due diligence? How are these global banks […]
As an individual investor, you have plenty of important questions to consider. How do you choose a trustworthy broker or investment advisor? How do you know if an investment is too risky for your personal investment strategy? When is the right time to invest; and, when is the right time […]
In an Order dated January 26, 2017, the Securities and Exchange Commission (SEC) demanded payment of $18.3 million from Citigroup Global Markets, Inc. (“Citigroup”) stemming from allegations that the advisory firm had charged its clients millions of dollars in unauthorized fees from 2000 through 2015. The $18.3 million payment demand […]
Zamansky LLC recently filed an ERISA class action on behalf of current and former Allergan plc employees to recover lost retirement savings resulting from an alleged price-fixing scheme. Allergan’s alleged price-fixing has prompted investigations by the Department of Justice, and other lawsuits filed by California’s attorney general and the Federal […]
We are investigating Matthew Maczko, the former financial advisor employed by Wells Fargo Advisors LLC from 2008 through 2016, and its branch office in Oakville, Illinois. The Financial Industry Regulatory Authority (“FINRA”) recently suspended Mr. Maczko’s stockbroker’s license and barred him permanently from conducting any securities business. According to FINRA, […]
It looks like déjà vu all over again on Wall Street. Get ready for a classic play by investment banks; conflict rich reports on companies by analysts who are hustling to generate fees. This dark mark on Wall Street was supposed to be a memory of the past. In 2003, […]
While brokers are supposed to make their money by recommending sound investments, some brokers choose to earn a living by making trades that generate fees and commissions without serving the best interests of their clients. The Securities and Exchange Commission (SEC) has warned of these fraudulent practices previously, and it […]
FINRA recently released a report detailing plans for an expedited phone hearing option for those parties involved in an arbitration with a claim of $50,000 or less. The report also draws attention to improvements in FINRA’s efforts to diversify its arbitrator pool, however Jacob Zamansky disagrees. “Although FINRA has incremental […]
Each year, the Financial Industry Regulatory Authority (FINRA) surveys U.S. investors with non-retirement portfolios and publishes the results of the survey in a report called, “Investors in the United States.” It recently released the results of its survey for 2016. Here are some of the highlights: More than 50 Percent […]