Update: More on NASAA Approval of Final Model Rule on Unpaid Awards
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By George H. Friedman, SAA Publisher & Editor-in-Chief

We reported briefly in SAA 2022-20 (May 26) that the North American Securities Administrators Association (“NASAA”) on May 20 adopted its Unpaid Customer Arbitration Awards Model Rule.

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Former Merrill Broker Hit with a $7.5 Million Award Months After Release From Prison
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By George H. Friedman, SAA Publisher & Editor-in-Chief

As widely reported in the media, a former Merrill Lynch broker, who had earlier this year been released from prison after serving a three-plus year sentence resulting from his misconduct,

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Alabama Securities Commission Moves to Vacate FINRA Expungement Award for Procedural Improprieties
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By Harry A. Jacobowitz, Esq.*

In a timely move, the Alabama Securities Commission (“ASC”) raises serious questions about the procedure employed in a recent FINRA expungement proceeding,

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FINRA Panel Dismisses Ineligible Claim with Prejudice
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By Harry Jacobowitz, Esq.****

In spite of the fact that arbitration claims that violate FINRA’s six-year eligibility rule must be dismissed without considering additional grounds for dismissal and without prejudice to the claimant’s or claimants’ right to pursue the claims in court,

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***This Just In: SCOTUS Decides Badgerow
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By George H. Friedman, SAA Publisher & Editor-in-Chief

 Just as we went to press came word that, based on statutory construction, the Supreme Court has decided Badgerow v.

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Raiding Award Features Dueling Explanations of Split Decision
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by Harry A. Jacobowitz

A 35-page explained Award in a raiding case resulted in an award in excess of $18 million against the respondents,

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