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May 23, 2017
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Securities Fraud
Former clients of LPL Financial are fighting the firm and their broker, Jason N. Anderson in Beaumont, Texas. Plaintiffs Elijah Denson and Olan Weeks of Beaumont, Texas, seek more than $1 million in damages on behalf of “hundreds” of current and former clients of Jason N. Anderson, at LPL Financial in a
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May 15, 2017
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Blog
Recognizing Excessive Trading or Churning in your Brokerage Account In January, the SEC’s Office of Investor Education and Advocacy (OIEA) and Broker-Dealer Task Force jointly issued an Investor Alert to help investors recognize excessive trading in their brokerage accounts. Excessive Trading or churning occurs
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April 25, 2017
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Blog
FINRA Tightens Sanctions on Churning In April 2017, the Financial Industry Regulatory Authority announced that it had revised its sanction guidelines for violations of its rules. The revisions include changes relating to rule violations that involve churning or unauthorized transactions. What is Churning? As we have
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April 17, 2017
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Current Investigations, Securities Fraud
Recovery of Investment losses from Churning Fraud Churning fraud is defined as an unethical practice employed by some financial advisors to increase their commissions by excessively trading in a client’s account. This practice violates various FINRA Rules and is often referred to as excessive trading. FINRA Rule
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April 6, 2017
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Current Investigations
Concerned about investment losses with your broker? If you suspect your account has been excessively traded, your broker may be churning your account. But how can you be certain? According to the SEC, churning occurs when a broker engages in excessive buying and selling of securities in a customer’s account
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November 21, 2016
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Blog
Is your Financial Advisor Churning your Account? What is churning? According to the SEC, churning occurs when a broker engages in excessive buying and selling of securities in a customer’s account chiefly to generate commissions that benefit the broker. For churning to occur, the broker must exercise control over
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January 6, 2016
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Blog, Securities Fraud
Churning Charges – Caldwell International Corp. According to FA-Mag.com, The Financial Industry Regulatory Authority (FINRA) has charged Caldwell International Corp. with churning customer accounts to generate $1 million in excess commissions. Allegedly, beginning in 2011, the Texas based firm acquired several
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April 19, 2014
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Publications
Financial Professionals are like any profession – there are good ones and there are bad ones. As long as financial advisors are compensated by commissions, some of the unscrupulous ones will continue to attempt to enrich themselves by excessively trading accounts...
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March 6, 2014
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Blog, Securities Fraud
FINRA Churning awards Based on FINRA awards, it appears that churning continues to be a problem in the securities industry. From January 1, 2013 to December 31, 2013, there were 52 cases decided that at least mentioned churning as an issue in the case. Churning is an illegal and unethical practice that takes place
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April 3, 2013
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Securities Fraud
Concerned your broker may be churning your account? Churning claims arise out of the inherent conflict of interest involved because a financial advisor is compensated by commissions earned in buying and selling securities on behalf of a client. As long as financial advisors are compensated by commissions, the
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