Articles Tagged with churning

Times can get complicated when a broker was romantically involved in the past with a client. Sometimes seemingly good contacts are not so good. Then charges and countercharges fly back and forth. A prior sexual relationship may or may not have influenced this case.  A lot of money was lost.

We emphasize that the information below relates to a FINRA  “complaint.” Always, as part of our Blog and general practice, the reader must await the “other side of the story” as to the complaint.  But, previously, a FINRA arbitration Panel ordered payment  of $34 million to the estate of Home Shopping Network co-founder Roy Speer because of unauthorized trading, churning  and other violations by Ms. Forte.  Ms. Forte was fired in March 2016 by Morgan Stanley. But a lot of the facts seem to have been established by an Arbitration hearing which preceded the FINRA Complaint.

The fundament of the FINRA complaint and preceding arbitration, of course, was churning of a customer’s account.  http://www.BrokerFraud.Net