Expungement Update: Few Comments on Amended Proposal. PIABA and NASAA Supportive, But SIFMA Urges Disapproval
on

By George H. Friedman, SAA Publisher & Editor-in-Chief

The comment period closed December 7 on FINRA’s proposed changes to its expungement rule filing.

...Read More

Arbitration of Investor Claims in an Industry-Sponsored Forum – A Look Back at 20 Years of Lessons
on

By Courtney Werning, Dave Neuman, Jorge Riera, and Michael Edmiston[1]

Introduction

Industry-sponsored arbitration has long been the only option for investors who have claims against their financial advisors and brokerage firms.

...Read More

FINRA Panel Renders $50+ Million Award Against Hedge Fund and Execs
on

By George H. Friedman, SAA Publisher & Editor-in-Chief

As widely reported in the media, a former D.E. Shaw money manager prevailed to the tune of $52.1 million in his defamation claim against the firm and four senior executives.

...Read More

Consumer Coalition to SEC: Look Into RIA Use of PDAAs Calling for Non-FINRA Arbitration
on

A broad coalition of a dozen consumer advocacy groups – including PIABA – has written to the SEC. urging that the Commission investigate the use by RIAs of mandatory predispute arbitration agreements (“PDAA”) providing for the use of non-SRO arbitration fora,

...Read More

Former Merrill Broker Hit with a $7.5 Million Award Months After Release From Prison
on

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,

...Read More

Alabama Securities Commission Moves to Vacate FINRA Expungement Award for Procedural Improprieties
on

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,

...Read More