new jersey

More than 300 New Jersey Clergy Accused of Sexual Abuse

More than 300 New Jersey Clergy Accused of Sexual Abuse

For decades, leaders of the Roman Catholic dioceses of New Jersey remained silent on allegations of abuse by clergy members. But this month, the truth will out. Five archdioceses in New Jersey have begun to divulge information related to abuses that stretch back nearly one hundred years. They are finally naming names.

FINRA Cracks Down on Bad Brokers, Small Firms

FINRA Cracks Down on Bad Brokers, Small Firms

Securities industry regulatory body, FINRA (the Financial Industry Regulatory Authority), released its proposal for a rule that would crack down on firms with a high concentration of “bad” brokers. With its latest regulatory notice, FINRA stated that it would increase oversight of brokerages with a “significant history of misconduct,” requiring them to set aside additional funds that cannot be withdrawn without FINRA’s consent.

When Your Broker Departs

When Your Broker Departs

The financial industry self-regulator, FINRA, issued a new regulatory notice today aimed at broker-dealers with departing brokers. The notice was intended to urge broker-dealers to be more clear and forthright with customers about departing brokers and what will happen to the customers’ accounts. If you’ve ever been in the situation where your broker has either left for another firm, left the industry, or passed away, you understand just how confusing things can get when it comes to who will be handling your investments and why.

'Trust But Verify' When It Comes to Friendly Advisor Recommendations

'Trust But Verify' When It Comes to Friendly Advisor Recommendations

In many cases, the operators of financial frauds and Ponzi Schemes the world over rely on people who have already been duped to bring in new suckers. Of course, the ones touting the services of a particular fraudster have no idea they’ve not only been deceived, but that they are helping weave an even larger web of deception. While it’s appealing to let others pick your advisor for you, the best thing to do is ‘trust but verify’ all financial opportunities.

FDA Issues Statement About Unsafe Medical Device Materials

FDA Issues Statement About Unsafe Medical Device Materials

The FDA announced that in the future it would be looking more closely at a range of medical devices and products — along with the materials they’re made from — that have caused the most trouble for consumers in recent years. The agency singled out breast implants, metal-on-metal hip replacement systems, and the components of birth control implant system Essure. Most strikingly, the announcement targeted not just the final products manufactured by medical device companies, but the materials they used to make the products.

Warren Wants FINRA to Toughen Broker Expungement Rules

Warren Wants FINRA to Toughen Broker Expungement Rules

Sen. Elizabeth Warren, a Democrat from Massachusetts who recently announced she would be running for president, urged the CEO of the securities industry self-regulator, FINRA, to toughen new rules controlling the expungement of incidents on the permanent records of financial professionals.

NJ Catholic Church Names Names of Clergy Accused of Abuse

NJ Catholic Church Names Names of Clergy Accused of Abuse

For decades, leaders of the Roman Catholic dioceses of New Jersey remained silent on allegations of abuse by clergy members. But this month, the truth will out. Five archdioceses in New Jersey have begun to divulge information related to abuses that stretch back nearly one hundred years. They are finally naming names.

Massive Medical Implant Industry Tech Not Tested by FDA

Massive Medical Implant Industry Tech Not Tested by FDA

The FDA is the government agency responsible for making sure that the food and drugs sold to us and that ultimately go into our bodies are safe. They conduct their own independent testing on thousands of new food and drug products everywhere. What the FDA does not test, however, is the tech that goes into our bodies. Specifically, the FDA does not test the medical device implant technology that is becoming more and more a part of our lives — and our bodies.

Fund Will Compensate New Jersey Victims of Clergy Abuse

Fund Will Compensate New Jersey Victims of Clergy Abuse

Victims of clergy abuse in New Jersey can look forward to the prospect of compensation for their suffering at the hands of Roman Catholic clergy thanks to the imminent opening of the state’s victims’ compensation fund.

New State AGs to Continue Clergy Abuse Investigation

New State AGs to Continue Clergy Abuse Investigation

The recent changeover in state attorney generals will not interrupt ongoing investigations into clergy abuse in Roman Catholic dioceses around the country. Offices in New York, Illinois, Michigan, Missouri, Florida, and Delaware which will be lead by new AGs have also reported some of the highest levels priest abuse. And at least 14 attorney generals around the country have confirmed that they are conducting investigations into clergy abuse in their states in the wake of Pennsylvania’s shocking grand jury report, which made international headlines this summer.

Regulator Rules and Tools for Every Retail Investor

Regulator Rules and Tools for Every Retail Investor

FINRA is far from a shadowy regulatory agency. They do their best to find themselves in the public eye, if only to keep investors informed on current regulations and scams. They also keep an exhaustive database of the professional records of all registered broker-dealers and financial advisors; the database is online and searchable. FINRA’s BrokerCheck is a mighty tool for investors seeking to learn more about their advisors; it’s one of many tools and rules that investors can use to protect themselves against fraud and malfeasance.

New Jersey Jesuits Release List of Alleged Sexual Abuse Offenders

New Jersey Jesuits Release List of Alleged Sexual Abuse Offenders

While Pennsylvania is still reeling from the findings of the grand jury report into priest sexual abuse throughout the state, Catholic dioceses in other states, including most recently New Jersey, have been conducting their own internal investigations. The latest story involves a list of ten priests who spent their careers in Jesuit schools of New Jersey who have been “credibly” accused of sexual abuse. The list was compiled and released by the USA Northeast Province Jesuits, an organization that represents the Roman Catholic order of priests in north Jersey and several other states.

Report Indicates PA Must Do More to Fight Elder Abuse

Report Indicates PA Must Do More to Fight Elder Abuse

A recent report by the Pennsylvania Office of the State Inspector General has delivered sharp criticism of how agencies at the county level handle thousands of complaints about elder abuse and how the state supervises investigations into these complaints. It is the state’s duty to ensure that such investigations are reasonable and thorough.

Is Your Broker to Blame for Excessive Losses in the Stock Market?

Is Your Broker to Blame for Excessive Losses in the Stock Market?

The last few months have been a difficult time for many investors. The stock market has taken a major dive, closing out 2018 with the worst performing December since The Great Depression. With so much volatility, it’s crucial that investors have a carefully planned portfolio with an adequate amount of diversification. Above all, that portfolio should match the individual investors risk tolerance and investment objectives. That match must be valid from the day it was made until today. A portfolio that worked for an individual investor in a bull market may be a terrible match for that same person in a bear market.

Investigative Report Castigates Medical Implant Industry

Investigative Report Castigates Medical Implant Industry

After an initial golden age of promise, the medical implant industry has suffered a sharp backlash in recent years. Numerous implant systems and technologies have either failed to perform as promised or done more harm than good — some have even killed people. As recipients of these faulty devices have gone to the press or to court, the reputation of the medical implant industry has been dragged through the mud and then some.

FINRA May Ban Non-Attorney Representatives in Securities Arbitration

FINRA May Ban Non-Attorney Representatives in Securities Arbitration

FINRA sent an official request to its governing body, the SEC, asking for a ban of non-attorney representatives, though the request does allow non-attorneys to represent investors pro bono, as well as for investors to represent themselves. FINRA is still awaiting the SEC’s final decision.

Zimmer M/L Taper Hip Implant with Kinectiv Subject of New Litigation

Zimmer M/L Taper Hip Implant with Kinectiv Subject of New Litigation

Recently, Zimmer’s M/L taper hip with Kinectiv and Versys head has been the subject of product liability and personal injury litigation. Like similar hip implant systems from Wright, Johnson & Johnson, and Stryker, the Zimmer system has allegedly caused metallosis in some patients. So far, more than twenty lawsuits have been filed against the manufacturer.

Ten Years After the Madoff Scandal: What We Can Take Away

Ten Years After the Madoff Scandal: What We Can Take Away

We may never forget Madoff’s crimes. Let’s hope we don’t. And yet, investors still fall prey to so-called “mini-Madoffs” every day all over the country. If you keep your eye on the financial press, particularly news from regulators such as the SEC or FINFRA, Ponzi schemes identical in nature and structure — if not scope — to Madoff’s bubble up and burst too often to keep track.

How to Sniff Out a Crooked Investment Scheme

How to Sniff Out a Crooked Investment Scheme

An investor gets introduced by mutual friends to a financial professional who almost immediately begins pitching the investor on an amazing opportunity. Because the investment professional seems like a good guy or gal, and because he or she was introduced by someone the investor already knows and trusts, the investor unconsciously transfers that sense of trust to the broker or hedge fund manager or mutual fund whiz. The investor’s guard is already down. What happens next?

How to Tell If A Potential Broker Is Good or Bad

How to Tell If A Potential Broker Is Good or Bad

One big reason brokerage firms severing ties with a particular broker is that investors tend to be loyal to brokers over brokerage firms. In defaming departing brokers, brokerage firms may be trying to pry departing customers away from their financial advisors in order to keep them for themselves.