Arbitration

Displaying 494 results

Topic

Bills would end mandatory arbitration in adviser, broker contracts

Legislation faces uphill battle in Congress, but the issue may become popular on the presidential campaign trail.

Topic

Retired NFL player, lottery winner win $4.2 million arbitration award from Morgan Stanley

The lottery winner, James Groves, was awarded $3.3 million, and Asante Samuel, who retired in 2013 after an 11-year career with the New England Patriots, Philadelphia Eagles and Atlanta Falcons, will receive $879,000.

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Finra makes it harder for brokers to expunge tainted records

Latest rule tells arbitrators that expungement should be a 'rare remedy.'

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Interest groups spar over best way to cover unpaid arbitration awards

PIABA suggests brokerages fund a pool or Finra pay for shortfalls with fines, while FSI asks regulators to ban offenders from all corners of industry.

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Cetera broker-dealers latest to file legal claim against Ohio National

Six Cetera broker-dealers allege the insurer will be breaching its contractual obligations by withholding millions of dollars in trail commissions from their brokers.

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Finra bars ex-Wells Fargo Advisors broker who just lost arbitration over loan

Terrence R. Puricelli was fired in 2016 over concerns of the accuracy of notes in the firm's system.

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Commonwealth files Finra arbitration, lawsuit against Ohio National for 'unlawful’ VA scheme

This is the first known arbitration filed against the insurer for its decision on variable annuity commissions.

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Finra arbitrators award $1 million to retirement investors in fraud involving Texas REIT

IMS Securities withdrew its Finra registration in 2017, and was expelled from the industry this year.

Topic

Credit Suisse hit again as Finra panel sides with second former broker on deferred compensation

The award follows a similar award last month when former Credit Suisse broker Brian Chilton was awarded $844,621 in deferred compensation.

Topic

How to tell good brokers from bad ones

Research shows false accusations of broker misconduct are disturbingly common, which suggests Finra needs to make a change.

Topic

Morgan Stanley case shows how firms smear departing brokers

Even when Finra arbitrators decide that a firm reported inaccurately on a broker's dismissal, they rarely award monetary damages.

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UBS loses $20 million arbitration award over Puerto Rico investments

Award is the largest penalty for UBS involving the Caribbean island to date.

Topic

Ex-Wells Fargo brokers sue for damages, claiming they lost business in wake of scandals

In a Finra arbitration complaint, two brokers allege that Wells Fargo's problems damaged their business.

Topic

Finra arbitration panel orders Credit Suisse to pay former broker $844,621

Brian Chilton moved to Morgan Stanley instead of Wells Fargo after Credit Suisse closed brokerage business.

Topic

Discrimination claim filed by ex-Morgan Stanley rep sent to arbitration

Judge rules that John Lockette was bound by a company policy requiring employees to arbitrate all claims.

Topic

PIABA: Finra proposal to ease oversight of brokers’ outside activities would spur selling away

Arbitration lawyers assert changes would create regulatory 'black hole.'

Topic

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

James E. Grimes accused Trustmont Financial of breaching fiduciary duty in a case related to two annuity exchanges and a private REIT.

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

Dairy farmer clients' $1.5 million portfolio incurred $1.3 million in trading costs, but will they be able to collect?

Topic

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

Neither Texas E&P Partners nor principal Mark Plummer showed up for hearing to answer investor's charges of gross negligence and recommending unsuitable investments.

Topic

Former Bank of America employee files Finra arbitration claim

Joe Voboril is seeking $20 million in damages for wrongful termination.