According to an investigation conducted by NBC10 Philadelphia into local nursing homes, eight out of ten elder care facilities in Philadelphia were non-compliant with infection control standards prior to the COVID-19 pandemic.
New Funding for Pennsylvania Victims of Sexual Abuse
What to Look for in Hiring a Financial Adviser
Jehovah's Witnesses Under Investigation for Sexual Abuse in Pennsylvania
Former Pro Baseball Player Wins $1.7M FINRA Award
According to his attorney, Lloyd Schwed, Mr. Angel Pagan, former outfielder for the New York Mets, Chicago Cubs, and San Francisco Giants from 2006 to 2016, had a four-year $40-million contract with the Giants when he and his wife opened an account in Merrill Lynch’s Puerto Rico office, and claimed they lost about $2 million when the Puerto Rican Bond market collapsed in the fall of 2013. ority Inc.’s BrokerCheck and the Securities & Exchange Commission’s Investment Adviser Public Disclosure sites.
FINRA Pushes Ahead with New "Bad Broker" Rule
Website to Help Investors Recognize "Trusted Advisors"
A new investment website is using regulatory data about financial consultants to go beyond securities regulators’ databases to help investors determine whom to hire. The Investor.com website just issued the “Trust Algorithm,” which is now available for unrestricted use. The tool scrapes background data on financial advisers retrieved from the Financial Industry Regulatory Authority Inc.’s BrokerCheck and the Securities & Exchange Commission’s Investment Adviser Public Disclosure sites.
Pennsylvanians to Get Stronger Sanctions Against Sex Abuse Charges
Since the investigative grand jury report was issued in August 2018, Pennsylvania Dioceses have launched compensation funds and have been reporting the number and amount of settlements. Reports made it known that hundreds of Roman Catholic priests had sexually abused Pennsylvanian children over seven decades and that church officials helped covered it up.
How Brokers Violate Client Trust
Arbitration for Aggrieved Investors Is Fast -- But Is It Fair?
The arbitration clause can be found in virtually all the account opening documents used by registered broker-dealers. Maybe your financial advisor or stock broker pointed it out to you — maybe not. Chances are extremely good, however, that you signed this clause and are now bound to resolve any disputes through arbitration.
Elder Abuse Rises as US Population Ages
As a vast sector of the US population reaches old age and the systems in place to supervise its care remain inadequate, instances of elder abuse will continue to rise. This includes not only the physical and emotional abuse of the elderly in nursing homes and care facility, but also financial exploitation and abuse at the hands of family, friends, caregivers, and financial advisors.
Elder Abuse Awareness Day
Elder abuse is everywhere, though; not just on the news. One of the reasons for the growing problem is that the largest and wealthiest generation in American history — the Baby Boomers — have retired and are aging. Meanwhile, their children and grandchildren may be struggling. This is a recipe for disaster and exploitation that regulators and legislators have been working diligently to solve before it gets any worse.
Catholic Church Spent $300 Million Last Year on Sexual Abuse Crisis
According to a report by the US Conference of Catholic Bishops, the Catholic Church in the United States spent a staggering more than $300 million on costs related to the clergy sexual abuse crisis. The report, which surveyed costs between June 2017 and June 2018, including nearly $200 million in legal settlements.
SEC's New Best Interest to Protect Investors from Bad Brokers
The Securities and Exchange Commission (SEC) adopted a rule to protect investors from bad brokers. The “Regulation Best Interest” (or BI) is the SEC’s answer to the Obama administration’s planned “fiduciary rule,” which the Trump administration killed. But will the Best Interest rule really be in the best interest of investors?
SEC Philadelphia Office Opens Program to Help Senior Investors Avoid Scams
In an upcoming program directed at the general public, the SEC Philly office, in conjunction with the Financial Industry Regulatory Authority (FINRA), the Pennsylvania Department of Banking and Securities, and Temple University’s Institute on Protective Services, will share the latest on the products, strategies, and scams that most affect elderly investors.
PA House Approves New Child Sexual Abuse Reporting Rules
PA Legislature May Pass Child Sexual Abuse Reform Bills
Two related bills are up for consideration in Harrisburg, both of which may pass in the House in upcoming days. This week, the House Judiciary Committee voted overwhelmingly for a bill that would remove the statue of limitations for child sexual abuse crimes and for a constitutional amendment that would permit child sexual-abuse lawsuits that would otherwise be outdated during a two-year period.
Did a Powerful Lobby Kill the PA Child Sex Abuse Bill?
Pennsylvania Legislators Tangle Over Sex Abuse Law Reform
The bill that would open the window for claims passed the Pennsylvania House of Representatives last month and now awaits Senate review. There are only a few days left in this term for voting on the bill in Harrisburg, so Representative Rozzi of Berks County, who was raped by a priest, and his supporters have ramped up the pressure in Bucks County.
