Investor Education

FINRA Appeals Committee Upholds Permanent Bar Against Glenn Robert King for Mutual Fund Switching

FINRA Appeals Committee Upholds Permanent Bar Against Glenn Robert King for Mutual Fund Switching

FINRA’s appeals body, the National Adjudicatory Committee, has upheld a hearing panel decision to permanently bar Glenn Robert King from the securities brokerage industry for engaging in excessive “in and out” trading of Unit Investment Trusts and Mutual Funds in customer accounts, including the accounts of several senior investors. Incredibly,…

Securities-Backed Lending: Cross-Collateralization Clauses Pose Threat to Retirement Savings

Securities-Backed Lending: Cross-Collateralization Clauses Pose Threat to Retirement Savings

Securities-backed lending is the term used to describe a lending arrangement in which an investor pledges securities as collateral for the loan. The loan is typically made by an affiliate bank or lender of the investor’s brokerage firm. These lending arrangements have attracted the attention of regulators and industry commentators in recent years because of…