Unanimous Kentucky Supreme Court: Variable Annuity is Not an Insurance Product, but A Fixed Annuity is. PDAA in the Latter is Therefore Unenforceable
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By George H. Friedman, SAA Publisher & Editor-in-Chief 

While the arbitration agreement in a variable annuity was enforceable because the investment was a security,

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A Few Minutes with New PIABA President Mike Edmiston
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By George H. Friedman, SAA Publisher & Editor-in-Chief

We reported in SAA 2021-41 (Nov. 4) that the Public Investors Advocate Bar Association (“PIABA”) announced in an October 28 Press Release that Michael Edmiston of Jonathan W.

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DOL Delays Fiduciary Rule Enforcement Until End of January
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By George H. Friedman, SAA Publisher & Editor-in-Chief

In somewhat of a surprise, the Department of Labor (“DOL”) has delayed from December 20 until January 31 enforcement of its fiduciary rule.

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Memories of Margin: An Industry Veteran Reminisces  
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Our lead Squib in SAA 2021-13 (Apr. 15) reported that margin debt in February grew to a record $814 billion – up dramatically from a year ago – and examined what this might portend for securities arbitration.

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Margin Debt Hits An All-time High of $814 Billion. Any Arbitration Implications?
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By George H. Friedman, SAA Publisher & Editor-in-Chief

Margin debt in February grew to $814 billion, up dramatically from a year ago.

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NY Trial Court: Objecting to FINRA Jurisdiction but Participating in Arbitration Not Enough to Vacate Award
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By George H. Friedman, SAA Publisher & Editor-in-Chief

A financial adviser who noted his continued objections to FINRA Dispute Resolution Services’ (“DRS”) jurisdiction but otherwise participated in the arbitration cannot later challenge the Award under New York’s arbitration statute.

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