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Securities Compliance Sentinel Analysis of cutting-edge securities industry issues

Category Archives: Clearing Firms

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The Sky May Actually Be Falling. . . Securities Clearing Firms May Be Liable for Fraudulent Transfers

Posted in Arbitration, Clearing Firms, Public Customer Arbitrations

The case below should be immediately filed in the “Uh Oh” category because the result indicates the potential for increased liability for securities clearing firms when a fraudulent transfer is alleged. The United States Court of Appeals for the Second Circuit refused to vacate an arbitration award against a securities clearing firm where it had… Continue Reading