Essential guidance for recovery of lost assets through arbitration, mediation and other forms of conflict resolution Since the discovery of the Madoff fraud and investment scandals associated with the global credit crisis, investors have become aware that they can fight back and demand both justice and monetary recovery. To date, the only reliable resources on securities arbitration have been either sensationalized accounts of how to sue Wall Street or legal references, which provide no practical application. Filled with expert guidance showing investors how arbitration works, Investor's Guide to Loss Recovery fills that gap by providing a focus on all of the investor's options when a conflict arises. * Includes charts showing the major areas of litigation as well as empirical evidence of enhanced awareness of investment misconduct* Proprietary research by the author, demonstrating arbitration results* Analysis on how newly enacted regulatory reforms will impact the process and options for financial fraud victims* Personal interviews with securities attorneys, experts and investors* Detailed scripts of initial attorney interviews, mediation and arbitration New financial regulations are impacting the options available to investors looking to recover assets. Investor's Guide to Loss Recovery is must-have reading for every investor, financial advisor, and attorney.
Foreword xi Preface xiii Acknowledgments xix Introduction xxiii CHAPTER 1: Road to Recovery 1 A Sharp Stick 1 Dodd-Frank: The Engine That Could 2 Rejecting Acceptance 4 The Incalculable Threshold 5 Dealing with the Demons 6 What Went Wrong? 7 What Can Be Done? 7 Criminal Trials 8 Civil Litigation 14 Class Action Litigation 17 Mediation 18 Arbitration 20 Notes 21 CHAPTER 2: Rock, Paper, Scissors 25 Five, Cinq, Fu..nf, Cinco 25 Category 1 ADR: Member Firm versus Member Firm 27 Category 2 ADR: Employee versus Member Firm 29 Category 3 ADR: Member Firm versus Employee 31 Category 4 ADR: Member Firm versus Private Investor 33 Category 5 ADR: Investor versus Member Firm 34 Notes 38 CHAPTER 3: Paperwork and Nostalgia 41 Equity, Epieikeia, or Myth? 41 Challenge of Solo Flight 44 A Trip to the Clinic 46 Paper versus Panel 47 The Perfect Counsel Is Imperfect 48 The Cone of (Near Total) Silence 50 Historical Revisionism 51 Strange Ways 52 Notes 53 CHAPTER 4: Revolutionary Acts 55 Jewels Among the Stones 55 Three Chords and the Truth 57 Your Story, Your Commitment 57 The Edge of Courage 60 More Than a Suggestion 62 Customer Requirements, List 2 62 I See Something That You Don't See 64 Respondent Requirements, List 1 65 Negligence/Breach of Fiduciary Duty, Lists 9 and 10 66 Churning, Lists 3 and 4 67 Failure to Supervise, Lists 5 and 6 69 Misrepresentation/Omissions, Lists 7 and 8 70 Unauthorized Trading, Lists 11 and 12 71 Unsuitability, Lists 13 and 14 72 Reform through Reduction? 73 A Venue for Intellect and Reason 74 Notes 75 CHAPTER 5: Expect the Unexpected 77 Tracking an M-80 77 The Baker's Dozen 78 New Account Paperwork 79 Customer Monthly Statements 81 Customer Federal Tax Returns and Schedules 83 Communications 84 Presentations and Proposals 85 Commissions and Fees 86 Compliance Manuals and Evidence of Supervision 88 Business Unit Audit Results 90 Regulatory Central Data Records 91 Prospectuses and Offering Documents 92 Phone Records 93 Marketing Materials 93 Damage Calculations 94 Notes 97 CHAPTER 6: The Lean Compromise 99 In Other Words, Schiedsgerichtsvereinbarung 99 Augustinian Guidance 101 Mediation, Act I: Getting to Know You 106 Mediation, Act II: We Are Gathered Together 108 Mediation, Act III: I'm a Victim 109 Mediation, Act IV: Hold On, Not So Fast 111 Mediation, Act V: Deal or No Deal? 113 Notes 115 CHAPTER 7: Arbitration: People, Places, and Things 117 Arbitration (Third Century B.C.) 117 People 119 Places 121 Things 122 Arbitration Script 125 Notes 150 CHAPTER 8: The Advocates 151 Advocacy, Not Advice 151 Margery S. Bronster 152 Louis F. Burke 156 G. Kent Edwards 163 Richard S. Frankowski 167 Jan Graham 173 Charles C. Mihalek 176 Tina Morin 180 William S. Shepherd 186 Wisdom 2,317 Miles from Wall Street 189 Notes 189 CHAPTER 9: End of the Beginning 191 Wabi-Sabi 191 Twenty-Four Points 192 A Graphic Graphic 195 The Equation 198 We the People 198 Notes 199 About the Author 201 Index 203
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