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New York Securities Fraud Lawyers Blog

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Malecki Law Investigating Multi-Million Dollar Ponzi Scheme That Preyed on Guyanese Community and Churchgoers

Malecki Law is currently investigating allegations regarding a Ponzi scheme targeted by several regulators, including the Commodity Futures Trading Commission (CFTC), which filed a civil enforcement action against Avinash Singh and nine others, including Daniel Cologero and Randy Rosseau, who reside in Florida, and Hemraj Singh, from New Jersey, concerning…

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SEC Action and Criminal Charges Brought Against Michael Barry Carter of Morgan Stanley

On July 20, 2020, the Securities and Exchange Commission brought investment advisor and former registered representative Michael “Barry” Carter up on multiple federal charges relating to the alleged misappropriation of over $6 million in funds.  Mr. Carter allegedly stole this money from his brokerage customers, including nearly $1 million from…

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What To Expect When You File a FINRA Arbitration Claim

Filing a claim for most investors is a walk over a new bridge and involves doing something they have never done before: filing a “lawsuit.” Most people never wanted to have anything to do with the law, but if you lost your life savings, you really do not have much…

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Can FINRA Arbitration Claims Be Brought Against a Bank and Its Employees?

Many clients are asking whether FINRA arbitration claims can be brought against a bank and/or its employees for losses sustained in their investment accounts.  The answer is yes.  There are more than 5,000 commercial banks in the United States.  Along with traditional banking services, many of these banks also provide…

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Can a Broker-Dealer Firm be Sued for Failure to Supervise a Broker?

Can a Broker-Dealer Firm be Sued for Failure to Supervise a Broker? Broker-dealers, also known as brokerage firms, are routinely sued for “failure to supervise” claims.  The Financial Industry Regulatory Authority (FINRA), the organization which regulates broker-dealers and their employees, has a series of rules requiring broker-dealers to establish and…

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Can a Clearing Firm be Liable for Losses in an Investment Account?

Investors often ask whether a clearing firm can be liable for losses sustained in their accounts.  The answer is “yes.”  Traditionally, clearing firms, also known as clearing houses, are financial institutions established to handle the confirmation, settlement, and delivery of transactions.  To ensure its clients’ transactions are made in a…

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Can FINRA Arbitrations be Conducted Remotely by Live Video or Online?

Many clients are asking, “can my arbitration hearing be done online by video?” The answer is yes.  FINRA allows for remote hearing services, via Zoom and teleconference, to parties in all cases.  In arbitration, all parties can agree as to almost anything and FINRA will allow it – such as…

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Volatility in U.S. Oil Prices – Can I Sue My Broker for Putting Me Into Risky Oil Investments?

U.S. oil prices have been on a roller coaster ride over the last few weeks, at one point dropping below $0 for the first time in history to -$37.63 a barrel.  Oil has since rebounded from its subzero levels, but it remains questionable as to whether it can stay there. …

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I Received A Rule 8210 Notice From FINRA, What Is Going On?

As we have been saying in this space for many years, getting a Rule 8210 Notice from FINRA can be a jarring event.  If you have received an 8210 notice, you should take it seriously, as well as immediate steps to develop your best course of action to comply with…

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