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Archive for the ‘FINRA’ Category

Class Action Waiver Violates FINRA Rules

Posted on: April 28th, 2014 by Nadine Gartner

The Board of Governors of the Financial Industry Regulatory Authority (“FINRA”) has held that Charles Schwab & Co., Inc. (“Schwab”) violated FINRA rules when the firm attempted to keep investors from participating in class actions by adding waiver language to customer account agreements. Read more…

FINRA Settles Case Against Oppenheimer & Co., Inc. Relating to Alleged Sales of Over One Billion Shares of Unregistered Penny Stocks

Posted on: August 6th, 2013 by Mark Friel

On August 5, 2013, the Financial Industry Regulatory Authority (“FINRA”) agreed to settle a case in which the regulatory organization alleged that Oppenheimer & Co., Inc. (“Oppenheimer”) had sold unregistered securities in violation of Section 5 of the Securities Act of 1933, failed to adequately supervise the sale of low-priced securities, failed to follow up on red flags involving the customers, sales and account activity, and failed to monitor patterns of suspicious activity that should have been identified and investigated through the company’s anti-money laundering program. Read more…

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The information contained in this blog does not constitute legal advice, and does not create an attorney-client relationship. We make no claims, promises or guarantees about the accuracy, completeness, or adequacy of the information contained in or linked to this blog.

About this blog

The purpose of this blog is to provide information to the general public and to practitioners about developments that may impact Oregon investors.

About the author

  • Nadine Gartner

  • Mark Friel
  • Nadine Gartner’s practice focuses on complex business litigation and class actions. Prior to becoming a lawyer, Nadine worked as an investment banking analyst.
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