Produced by: School of Law
December 30, 2013
In the Media
PIABA seeks more Capitol Hill influence in 2014
By Mark Schoeff Jr.
Investment News
December 27, 2013
Excerpt:
A group of lawyers that represents investors in claims against brokers wants to have more influence in the halls of Congress.
“We're taking a more active role in trying to impact legislation,” said Jason Doss, president of the Public Investors Arbitration Bar Association. “No other organization has the practical experience to talk about the real-life impact on investors when they're given bad investment advice.”
***
Another issue that the group is trying to put on the radar of lawmakers is the so-called expungement process, or the method by which brokers can get wrongdoing cleared from their records in a database run by the Financial Industry Regulatory Authority Inc.
A PIABA study released in October found that expungement was granted more than 90% of the time between May 2007 and December 2011 when it was requested by brokers as part of a stipulated award or settlement.
***
“[Expungement] is getting a much closer look now that the PIABA study has come out and shown how frequently customer complaints are being expunged,” said Christine Lazaro, chair of the PIABA legislation committee and director of the Securities Arbitration Clinic at St. John's University School of Law.
Related News
St. John’s Hosts Annual Parent Conference and Resource Fair
Education was never meant to be a one-size-fits-all endeavor. As an institution committed to equity and excellence, we must forge relationships and protocols that move beyond accommodating differences...
Professor’s New Book Focuses on Critical Literacy for Socio-emotional Learning
Smita Guha, Ph.D., Professor, Fulbright Scholar, and Chairperson in the Department of Curriculum and Instruction in The School of Education at St. John’s University, is the author of a new book...
Adjunct Professor’s AI Research Has Positive Impact
With more than 20 years of experience as a higher education data and analytics professional, Omar Lopez, an Adjunct Professor in the Department of Core Studies at St. John’s College of Liberal Arts...