“The victory benefits investors everywhere by making clear that basic rules of due process do apply in FINRA arbitration”. In August, 2014, I represented Sandra Liebhaber in a FINRA hearing requested by Royal Alliance Associates and its one time financial advisor, Kathleen Tarr. This was an expungement hearing in which Royal Alliance and Tarr asked FINRA to erase any trace of the claim that my client had filed and settled with Royal Alliance. To grant that extraordinary remedy, the FINRA three-person panel had to find essentially that Ms. Liebhaber had filed a false claim. Ms. Liebhaber did not and would not file a false claim, and when I found out about the request, Darlene Pasieczny and I agreed to represent her without charge at the hearing to oppose the expungement. At the hearing, the arbitrators allowed Ms. Tarr to testify that she was a minister’s daughter and had done nothing wrong.
I received a document from a confidential source that was prepared by Aequitas and it is quite enlightening. It is written about the Aequitas Private Notes issued by ACF (Aequitas Commercial Finance), and dated the third quarter of 2015.
The document states, “ACF uses proceeds from Private Notes primarily to repay prior investors.” I interpret this to mean that the company did not have the assets to pay prior investors from its regular course of business. I define a Ponzi Scheme as an investment scheme that operates by using new investor money to pay prior investors, and creating the illusion that distributions are from operations, when they are not.
Looking for Information about the Aequitas Investigation and Investors? Investors looking for information about their investment funds and private promissory notes issued by one of the Aequitas companies operating out of Lake Oswego, Oregon have come to the right place. We have created a site specifically designed for those seeking more information about the Aequitas investigation. […]
The SYK Investor Defenders Team published a new article. Investment Losses in Oil, Gas, and Energy Driving Down Your Retirement Savings? You might have a claim to recover your loss in oil, gas, or energy stocks. If you have concerns about the effect that oil, gas and energy stocks and investments are having on your […]
Investor Defenders have published a new article. Form U5 Information Gets to BrokerCheck Faster with New FINRA Rule Change Effective December 12, 2015, certain information provided on the registration termination paperwork (Form U5) for a brokerage firm or terminated broker will be accessible on BrokerCheck in 3 business days instead of 15. Be sure to […]
Investor Defenders have published a new article. Banks Quoted in Investment News Article Regarding Expungement Language Investor Defender attorney Robert S. Banks, Jr. was recently quoted by Investment News, in an article about FINRA arbitration expungement procedures. Be sure to check their website for the full article. If you have concerns about your financial advisor or investment portfolio, […]
Investor Defenders have published a new article. FINRA Examines Conflict in Broker Compensation As reported by Investment News recently, FINRA has sent letters to brokerage firms asking about Broker Compensation. The goal is to discourage firms from selling products that benefit the brokerage firm and the broker at the expense of the customer. Be sure […]
Investor Defenders have posted a new article. Asset Allocation – The Life Raft in a Stock Market Storm Stock market decline should not rattle investors who are properly asset allocated. Asset allocation as a predictor of stock performance. The recent plunge in the stock market is grabbing headlines and making investors anxious. Be sure to […]
Investor Defenders have posted a new article. FINRA Arbitration 101 Securities attorney Robert S. Banks, Jr. traveled to Salem, Oregon today to discuss FINRA arbitration with a select group of regulators at the Department of Finance and Corporate Securities (DFCS). Banks’ presentation detailed the arbitration process from start to finish. Be sure to check their website for […]
On Thursday the Wall Street Journal reported that The Consumer Federation of America (CFA) had launched a campaign to support proposed rules from the Labor Department and the Securities and Exchange Commission that would require more advisers to be held to a “fiduciary” standard. Your feedback to the CFA could ultimately help hold financial advisers […]