Results for "arbitration"

Displaying 385 results

Sort: Date | Relevance


Finra arbitrators order Pennsylvania brokerage to pay client $1 million in damages

August 23, 2018

Financial Industry Regulatory Authority Inc. arbitrators ordered Pennsylvania-based Trustmont Financial Group Inc. to pay a client more than $1 million in damages. James E. Grimes accused Trustmont, headquartered in Greensburg, Penn., of breaching...

Finra panel awards clients $5 million for churning, but from defunct brokerage

August 14, 2018

The Financial Industry Regulatory Authority Inc. has slapped a defunct New York brokerage firm with a $5 million fine related to excessive account trading — churning — in what was supposed to be a conservative investment strategy. The challenge...

Finra arbitrator awards $1.5 million in damages to oil and gas investor

July 6, 2018

A Finra arbitrator has ordered Texas E&P Partners and its principal, Mark Plummer, to pay a former customer $1 million in punitive damages and $521,000 in compensatory damages. The customer, Eli Garza, claimed the firm and Mr. Plummer breached...

Former Bank of America employee files Finra arbitration claim

July 5, 2018

Former Bank of America Corp. employee Joe Voboril filed an arbitration claim against the firm, claiming he was wrongfully terminated after an investigation into another banker's alleged inappropriate sexual conduct, according to Mr. Voboril's...

Unpaid arbitration awards bill by Sen. Elizabeth Warren criticized at hearing

June 28, 2018

Legislation that would provide a remedy for unpaid securities arbitration claims was criticized at a Senate Banking Committee hearing Thursday. Written by Sen. Elizabeth Warren, D-Mass., the legislation would require the Financial Industry Regulatory...

Finra panel orders Woodbury to pay customers $1.1 million

June 26, 2018

A Financial Industry Regulatory Authority Inc. arbitration panel has ruled that Woodbury Financial Services must pay $970,107.21 in compensatory damages and $121,468 in interest to two clients as a result of the firm's failure to supervise a...

Sen. Warren gets Republican cosponsor on bill to fund unpaid arbitration awards

May 30, 2018

Bipartisan backing for legislation targeting unpaid Finra arbitration awards has supporters hoping the measure will advance this year. Under the bill, written by Sen. Elizabeth Warren, D-Mass., the Financial Industry Regulatory Authority Inc....

Arbitration over employment agreement nets adviser $267,000

May 21, 2018

In a Finra arbitration in which both the broker and the broker-dealer claimed breach of contract, Francis G. Mitchell has been awarded $784,800 and the firm — Coastal Equities — $517,575, for a net of $267,225 to the broker. The case involved...

UBS wins $9.7 million Finra award

May 18, 2018

UBS Financial Services Inc. of Puerto Rico has been awarded $9.7 million by Finra to compensate for costs related to a lawsuit settlement with the ex-wife of a former client of the broker-dealer. The dispute originates in 2001 when a divorce...

Fired Merrill broker gets $750,000 in damages for defamation

May 1, 2018

A Financial Industry Regulatory Authority Inc. arbitration panel has awarded former Merrill Lynch broker Miguel Ballestas $750,000 in compensatory damages, saying that the firm defamed Mr. Ballestas on his U5 form. Mr. Ballestas was employed...

An arbitration with a twist: Both sides lose

April 25, 2018

In an unusual decision, a Finra arbitration panel has ordered Ameriprise Financial and William Barker, a former broker, to pay each other compensatory damages. The case stems from Mr. Barker's alleged failure to repay a promissory note due Ameriprise...

Former Merrill Lynch execs' lawyer feels good about chances in $1 billion arbitration

April 5, 2018

A lawyer for dozens of former Merrill Lynch managers said they have a good chance of prevailing against the wirehouse now that their complaints will be heard in arbitration. The cases involve more than 60 former Merrill executives who claim...

Finra bars former Morgan Stanley broker who sought client loan for outside activities

March 29, 2018

Finra barred from the industry a former Morgan Stanley broker who allegedly violated rules governing work brokers do outside their firms. In a March 28 agreement, David Warren Olson accepted the ban from the Financial Regulatory Authority Inc.,...

Finra arbitrators award $475,000 to Morgan Stanley for broker who violated protocol

March 28, 2018

Finra arbitrators awarded $475,000 to Morgan Stanley in a case involving a broker who the firm said violated an industry agreement to make it easier to move from one firm to another. In an award handed down on Tuesday, the panel held that Kevin...

Finra panel awards firm $780,424 against broker to repay legal costs

March 27, 2018

It's not just investors who can get stiffed by brokers who lose arbitration cases. It's possible their firms could get the short end of the stick, too. A Finra arbitration panel awarded $780,424 in compensatory damages to Alliance Affiliated...

There's a major flaw in Finra's arbitration system

March 17, 2018

It is clear to anyone paying attention that there is something wrong with the Financial Industry Regulatory Authority Inc.'s arbitration system. While the process of deciding guilt or innocence seems to be working, there doesn't seem to be any...

Finra unpaid arbitration increased in 2017, PIABA report finds

March 7, 2018

Lawyers representing customers in Finra arbitration released a report Wednesday asserting the number of awards that went unpaid rose in 2017, and called on the broker regulator to establish a fund to compensate investors. The study by the Public...

Finra panel awards $404,482 to client after broker overdoes put options

March 7, 2018

A Finra arbitration panel awarded $404,482 to a client after a broker allegedly filled his portfolio with complicated products that were too risky for him. Mark Watson alleged that Allegis Investment Advisors, Allegis Investment Services and...

Sen. Warren introduces bill targeting unpaid Finra arbitration awards

March 6, 2018

[Correction: Finra chief executive Robert W. Cook testified before a House Financial Services subcommittee in September 2017, not before the Senate Banking Committee meeting of last year referenced in this story. He was not present at that meeting.]...

Merrill Lynch tries to avoid arbitration in dozens of cases with former executives

March 5, 2018

Usually brokerages want disputes with customers and their employees heard in arbitration. But Merrill Lynch is trying to push dozens of pending arbitration cases into court, causing plaintiffs to cry foul. The cases involve about 60 former Merrill...

Next Page »

1 | 2 | 3 | 4 | 5 ... 20


Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting It'll help us continue to serve you.

Yes, show me how to whitelist

Ad blocker detected. Please whitelist us or give premium a try.