Subject: SR-FINRA-2022-024: WebForm Comments from James Maher
From: James Maher
Affiliation: Maher Financial

Aug. 23, 2022

 August 23, 2022

 The proposed changes are inappropriate.  In over 18 years as a Registered Representative I have had two frivols claims filed against me. In both cases the broker dealer decided to settle the claims even though I was not named as a defendant.  It would have been on my record. I am an attorney as well as a financial advisor and I understand the \"nuisance\" value cases. There is a difference though when it will go on your record and basically ruin your reputation. I always put my clients best interest first and it would really be a shame if I had a \"mark\" on my record because people are convinced by attorneys to file suit.  Many of these attorneys lie and tell the claimant that it won't effect the advisor but that isn't true.  In one case I made a client over 33% ($1.5M) and yet she filed a claim.  She claimed she lost $500,000 and yet the case was settled for $24,500 because I did nothing wrong and the ironic part is had she held on to the investments they would have had a positive
  return. I spent over $10,000 defending my good name. This business is based on a fiduciary responsibility but please do not allow attorneys to file friviouls claims.