FINRA recently put into place the highly publicized prohibition of making a settlement contingent upon a registered representative having the subject arbitration expunged from the representatives U-4. Is this a
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Arbitration
Court Remands Dispute Over Expungement of CRD Data
By Fox Rothschild on
The U.S. District Court for the Central District of California remanded to a California state court a stockbroker’s lawsuit against the Financial Industry Regulatory Authority for expungement of certain allegedly…
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FINRA ARBITRATION SETTLEMENTS HAVE A LOT OF EXPUNGEMENTS
By Fox Rothschild on
Expungement relief was granted in a very high percentage of arbitration cases filed by investors against broker-dealers, particularly those that were resolved by settlement or stipulated awards.
FINRA panels granted…
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Should You Even Care About A Uniform Fiduciary Duty
By Joshua Horn on
In an Investment News article written by Mark Schoeff, he reported that the push for a uniform fiduciary standard for broker-dealers and investment advisors has become a bit stagnant.
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PUNITIVE DAMAGES AWARDED AGAINST BROKER
By Fox Rothschild on
The Maryland Court of Special Appeals affirmed a FINRA arbitration panel’s punitive damages award against a financial adviser, who allegedly withheld from her clients information about a risky business venture. …
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Is This The End of Arbitration As We Know It
By Joshua Horn on
FINRA arbitrations may never be the same because FINRA recently proposed to redefine “public arbitrator” to exclude anyone from the financial industry from falling within that definition. Couple that proposal …
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Is This The Beginning Of The End To Expungment Agreements
By Joshua Horn on
A frequent tool for settlement was to make a stipulated award that included expungement of the registered representative’s U-4 a condition of settlement. FINRA recently announced that it is “developing …
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FINRA Deputy Counsel Article on Expungements
By Fox Rothschild on
A must read is the article in this quarter’ s The Neutral Corner, published by FINRA Dispute Resolution, and authored by John D. Nachmann, Esq., Deputy Chief Counsel, FINRA…
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Former AP of Defunct Firm May Enforce FINRA Arbitration Pact
By Fox Rothschild on
The California Court of Appeals reversed a lower court’s refusal to compel a dissatisfied investor to arbitrate its dispute with a former associated person of a now defunct FINRA member…
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Florida Limitations Law Applies to Arbitration Proceedings
By Fox Rothschild on
The Florida Supreme Court concluded that the state’s statute of limitations governing civil actions or proceedings applies not just to judicial actions, but to arbitrations as well. See Raymond James …
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