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YOU NEED TO BE AN INVESTOR FOR FINRA ARBITRATION

Posted in Outside Business Activities, Public Customer Arbitrations

An allegedly defrauded investor may not compel a broker-dealer to arbitrate claims over his allegedly unsuitable investments.  See Berthel Fisher & Co. Financial Services Inc. v. Frandino, D. Ariz., No. DV-12-02165-PHX-NVW, 5/14/13, http://www.bloomberglaw.com/public/document/Berthel_Fisher_Company_Financial_Services_Incorporated_v_Frandin.  The investor was not a “customer” of the firm’s registered representative for purposes of the FINRA arbitration code since the registered representative… Continue Reading