Finra Reviews

FINRA is a completely dishonest

FINRA is a completely dishonest organization that presents itself as ethical pro-consumer It is the exact opposite I am basing this on my personal experience Firstly FINRA gives the impression that a consumer using them in arbitration against a big corporation is a great way to go because the consumer won t receive the same BS and legalese as in court WRONG FINRA is in the pockets of the big corporations Firstly I am pretty sure that the member corporations pay annual fees probably a fat fee to participate in FINRA What does that tell you about who FINRA is likely to support This is similar to LA Bar Assn another joke for an institution to which someone can file a complaint against a member atty These attorneys pay annual fees to this association Both FINRA and LA Bar Assn protect a consumer only if a member has gone WAY OUTSIDE of acceptable behavior which is not how decent moral conscionable people operate Now let s face it arbitration should be such that intelligent persons can argue their cases in front of a panel who don t have to be attys In my experience intelligent persons can outargue most attys Problem is that the law has made it so complex with BS games that in a court setting you NEED an atty But for arbitration it shouldn t be so even if you are arguing against an atty representing a big corporation So I filed a complaint on my own against a couple big insurance companies that collaborated to screw me I elected to have 3 arbitrators and was presented by FINRA with a bunch to choose from But all they do is give the background of these arbitrators who are overwhelmingly attys Though FINRA claimed that I could research how these arbitrators ruled on cases believe me it was soooo difficult that I ended up going with my gut which was way off Then once I became aware that my complaint was like I was in court I sought the help of one of the attorneys that are found on a website of attorneys who consumers can use in a FINRA arbitration case One attorney told me that I had a great case but because I filed on my own at first he refused to take my case Can you believe that s t Then another one said the same thing but said he would help me out by giving me advice He told me that the lead arbitrator of the 3 was the WORST one I could have chosen since that guy is pretty much in the pockets of big companies and that the lead arbitrator usually tells the other 2 how s he will rule and the other 2 tend to go along So he recommended I go for mediation rather than to trial Of the mediators presented to me by FINRA this attorney suggested a particular name a guy he knew is fair WRONG That guy turned out to be sleezy and admitted to me that the attorney who is helping me had spoken with him something that was clearly unethical I am now convinced that these 2 attorneys agreed behind my back that the mediating attorney should just get me to settle at all costs During the mediation this attorney told me that the lead arbitrator had a record that was so favorable to corporations that I was sure to lose if I refused to settle at mediation and insisted on going onto arbitration I ended up settling at mediation a decision I regret but realized that the FINRA process is set in favor of the corporations What the helpful attorney told me that most arbitrators rule in favor of corporations because those who don t will not be selected in future by corporations that they rule against You the consumer will likely only get involved with FINRA once while these corporations will likely show up many times with different consumers These unethical arbitrators mostl who make a fat living pretending to be fair and just is a fool to rule in favor of a consumer unless the corporation has literally stolen money from the consumer Of course thOtherwise they will be blacklisted and FINRA will do NOTHING about it IF FINRA WAS REALLY HELPING CONSUMERS THEY WOULD CHOOSE THE THREE ARBITRATORS i e each arbitrator s name will come up on a rotating basis SO THAT THE CORPORATION HAS NO CHOICE Fact is that the corporate attys KNOW the arbitrators and KNOW OF their tendencies while the consumer does not This is why the consumer is encouraged to pay a fat fee to a FINRA attorney to represent them because guess what The FINRA attys KNOW the arbitrators most of the sleezy attys representing big sleezy corporations insurance corporations are low on the food chain So they to settle the complaint as quickly as possible where the consumer is the pawn The consumer will likely get some settlement because the FINRA attorney has to get paid but the consumer will not get anywhere what they hoped and most likely deserved to get FINRA pretends to do forthright but is run by their member corporations the sleezy attys who represent them

FINRAFRAUD MMTLP

Around October of 2021 2 market makers allegedly created a market for the Series A Preferred shares Dividend MMTLP I would like to add to this complaint a potential conflict of interest regarding Ari Rubenstein who is on the board of FINRA and the co-founder of GTS This is clearly going against Finra s mission statement of dedicated to protecting investors and safeguarding market integrity in a manner that facilitates vibrant capital markets Please look into this as a matter or utmost urgency as the livelihood of hard working US taxpayers and overseas traders is at very serious risk These preferred series A shares became tradeable on the OTC against the wishes of the company and suddenly appeared in brokerage accounts with a cash value around fifty cents It was later discovered that these shares could be bought through a small handful of brokerages but listed as Sell Only in other brokerages Investors then in good faith purchased shares of MMTLP in hopes of a Receiving shares through a spin off into Next Bridge Hydrocarbons b Trading the share with the expectation of being able to buy more and also sell for profit like any other share on the OTC c Both On 11 22 2022 shares of MMTLP reached an all time high of 12 50 These shares MMTLP were soon to become shares of Next Bridge Hydrocarbons expected to be a private company Metamaterials provided the Securities and Exchange Commission SEC with a S1 filing on 7 15 2022 and after a few minor revisions the filing was approved on 11 18 2022 The filing was approved by the SEC and the DTCC FINRA was then tasked with implementing the spinoff and providing brokerages with Corporate Notices Per the Metamaterials filings the last day to purchase MMTLP was to be 12 08 2022 to receive shares of Next Bridge Hydrocarbons Purchase orders WOULD BE ALLOWED until 4pm EST 12 12 2022 but buyers would not receive shares of Next Bridge Hydrocarbons if purchased after 12 08 2022 On 12 14 2022 MMTLP would cease to exist and eligible shareholders would now own shares of the PRIVATE company Next Bridge Hydrocarbons On or around 11 18 2022 the S1A was approved by the SEC and on 11 18 2022 Form S3 was uploaded to the SEC website with a Notice of Effectiveness A revision to Metamaterials filing s was rolled out by FINRA and trading of MMTLP was HALTED Code U3 on 12 08 2022 which was prior to the 12 12 2022 date Brokerages have still not been provided their Corporate Notices For the final part of my complaint I would like all investors including myself to benefit from a free and fair market You can abide by your mission statement by allowing the preferred share to complete 2 more days of trading compel all shorts to close their positions ensure brokers liquidate for them if they do not close and ask brokers to deal with the matter of millions of synthetic shares so only genuine retail investors of MMTLP get their entitlement to Next Bridge

FINRA illegally halted the trade of a

FINRA illegally halted the trade of a preferred stock to allow hedgefunds and marketmakers to not have to pay retail investors for the naked shares they produced and allowed retail sellers to purchase

ib la I fo

I encountered problems with them but they were swiftly resolved following an investigation conducted by the fraud agency see title for agency after I reported the issues

Stay clear

Very poor service rude when talking and very insincere As much as I need my money back I do not trust this company at all Stay clear and avoid

Scammers Contact the team or website written in my profile name now for a refund I was refunded my 18k

FINRA ineffective and hardly independent

I recently filed a complaint with FINRA regarding Etrade Morgan Stanley and what I believe is their deceptive communication breach of fiduciary duty and self-dealing The issue involves the firms unilateral and with no disclosure termination of a competitive money market sweep option with 4 75 yield and replacement of the option with a savings account at Morgan Stanley Private Bank yielding 0 05 One day after filing the complaint I received an email from FINRA indicating my concern was forwarded to Etrade for their response So much for an independent regulatory and enforcement body No wonder we have such low trust in our financial institutions

Bunch of crooks on FINRA board

Bunch of crooks and HFs owners on the board The way they screwed retail investors on MMTLP is so wrong on all levels FINRA existence is to protect the rich HFs and MMs and SEC does nothing about it

FinraFraud

FinraFraud FinraFraud Mmtlp U3 Halt Finra has broken the law I am a shareholder of MMTLP and FINRA have broken the law by issuing an illegal U3 trading halt