Every year, 10,000 securities arbitrations are filed in the United States, private lawsuits required to be resolved in secret, closed-door sessions by men and women who are not judges, are not required to abide by the law, and whose decisions are almost impossible to appeal. In these forums, the rules of evidence do not apply and at least one of the arbitrators is almost always a member of the same industry as the broker being sued. Litigants may represent themselves, saving thousands in legal fees, but at the same time exposing themselves and their losses to a labyrinthine system known only to a relative handful of specialists, where the presiding "judges" know the players and the system is financed by the very brokerage firms being put on trial. In this booklet, a 35-year veteran of arbitrations explains in plain, non-lawyer English what arbitrations are, how they work, and how you can protect your rights.Brian Lowe has spent 35 years in the securities industry, working both in brokerage houses, and for consumers as a non-attorney arbitration representative recovering millions of dollars. His arbitration against Jordan Belfort, “the Wolf of Wall Street,” resulted in one of the largest awards ever against Belfort and helped put his firm, Stratton Oakmont, Inc., out of business. Lowe has worked alongside the FBI and consulted with the U.S. Securities and Exchange Commission in combating financial fraud, and continues to work as Senior Legal Assistant at a Los Angeles-area law firm.
UPDATED FOR 2021Is your account making money? Are you sure Your broker could be taking your money as you read this, and you wouldn't have a clue. We've seen wives cheated by their husbands. We've seen retirees cheated by their best friends, conservators who steal from their wards, and victims who had to turn their own relatives over to the FBI. In more than one case, we have seen brokers try to murder their clients. This isn't TV. It happened. It happens every day.Where would you go if it was you? To the brokerage house? Good luck. To the SEC? Try again. To FINRA? No help there... You could lose it all and the government won't raise a finger to help you.In this booklet a veteran of hundreds of arbitrations explains in plain, non-lawyer English how to avoid being defrauded AND PROTECT YOURSELF FROM LOSSES--but if you are cheated, how you can RECOVER YOUR MONEY.Brian Lowe has spent nearly 40 years in the securities industry, working in brokerage houses, and for consumers as a non-attorney arbitration representative recovering millions of dollars. His sued Jordan Belfort, “the Wolf of Wall Street,” two dozen times, recovering more than $2,000,000 and helping put his firm, Stratton Oakmont, Inc., into bankruptcy. Lowe has worked with the FBI, FINRA, state regulators, and the U.S. Securities and Exchange Commission in combating financial fraud. He currently works as Senior Legal Assistant at a Los Angeles law firm.
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