Call Now For a Free Consultation:
(614) 502-6165

David P. Meyer Begins PIABA Presidency with Call to Oppose SEC “Finder” Rule, Improve BrokerCheck

After being installed as President of the Public Investors Advocate Bar Association (PIABA) last month, Attorney David P. Meyer has not delayed in advancing an agenda to protect public investors.

As reported by Financial Advisor magazine, Mr. Meyer has already met with SEC regulators and FINRA officials and is promoting efforts to improve FINRA’s BrokerCheck tool by including data on firm-wide enforcement actions. BrokerCheck, on online database which allows investors to vet potential broker-advisors, currently only allows investors to access enforcement records for individual advisors.

“I want investors to be able to access a firm’s records so they can see a firm’s culture and enforcement cases. Does a firm or its brokers have 10 complaints, enforcements or enforcement or arbitration cases? The more information an investor has, the better they’ll be able to evaluate and make decisions about who to entrust with their life savings.”

In addition to improving BrokerCheck, Mr. Meyer has made it a priority to oppose a proposed rule from the SEC to allow unregistered “finders” to solicit broker-dealer and advisor clients for private placements.

As Mr. Meyer told Financial Advisor:

“The SEC wants to let these unregistered finders contact investors on behalf of private placement issuers, meet with them face-to-face and earn commissions, without having to register as broker-dealers. So there is no record-keeping, no inspections or exams, no compliance.”

Attorney David P. Meyer’s work as the new PIABA president is profiled in a feature article from Financial Advisor magazine. Read the full article here.

With decades of experience, our firm has the experience, resources, and tenacity needed to tackle even the largest cases nationwide. Contact us today for a free case evaluation.
The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

Share This Story
If you found the information provided by this article useful, consider sharing to your social media channels to help others in their search for reliable resources.
Consult with Our Legal Team
There is never a cost associated with a consultation

Meyer Wilson
Meyer Wilson
Quick Links
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. No recipients of content from this site, clients or otherwise, should act or refrain from acting on the basis of any content included in the site without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient's state. Read More
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. Read More
chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram