FINRA

Panelists on a FINRA arbitration board cited Randy Anderson's claims of age discrimination when questioning UBS's reasons for firing its former broker. Now UBS argues in a court filing that no evidence of discrimination was ever presented.

A FINRA arbitration panel's decision marked a rare rebuke for a large wealth manager seeking to reclaim money it provided an advisor recruited from a rival.

George "Keith" Demetriades was accused of violating nonsolicitation clauses and misappropriating trade secrets after leaving for an RIA in 2023.

Now at Wells Fargo, Matthew McCrea is accused of violating a nonsolicitation agreement he signed at JPMorgan. The suit echoes allegations JPMorgan made days earlier against a broker now at Morgan Stanley.

An advisory panel has recommended changes that would bring arbitration rules for RIAs into line with those now governing FINRA proceedings for broker-dealers. The proposal still has to get through the SEC.

Retired investor Tracy Driver alleges he was encouraged to put millions into a now delisted media company and then lost more through unauthorized sales of "prized" shares in Nvidia, Microsoft and Alphabet.

Randy Anderson worked as a broker for nearly 25 years without a complaint before being accused of making unauthorized trades by a client who, his lawyer says, actually ended up saving money.

Investor advocates and others worry that recent changes to who can serve on FINRA panels will exclude arbitrators most likely to be sympathetic to ordinary investors.

Experts say that there are pitfalls, rules and procedures that departing financial advisors should know. Problem is, too many act first and consult lawyers later.

The decision comes as a victory for FINRA in a series of legal assaults meant to undercut the authority of self-regulatory organizations.

The broker-dealer alleged that a FINRA arbitration panelist who helped hand down the landmark penalty should have recused herself after reaching a similar conclusion in a case involving the same embattled broker.

Industry groups argue a new rule under consideration would give brokerage firms new oversight responsibilities over unaffiliated RIAs — a contention FINRA denies.

Rulings from the Financial Industry Regulatory Authority included a $360,000-plus payout from JPMorgan, scrutiny of B. Riley operations and more in April.

Regulators say they are seeking fairness, noting that firms that reached deals with the SEC before the start of the year are under fewer regulatory mandates.

The firm characterizes the cause examination, a procedure that typically originates from a customer complaint, as a routine matter.

A judge found that the alleged victims of a scam run by a now-disgraced representative of Oppenheimer furnished no evidence of having direct ties to the firm.

Evan Becht told a FINRA arbitrator that he has not been able to find another job since JPMorgan's reasons for terminating him became listed on his BrokerCheck page.

Michael Bonevento and his team left Ameriprise in 2019 to join LPL Financial. He says too much time has elapsed for him to now be accused of misappropriating client information.

UBS contends the nearly $70 million in punitive damages it has been ordered to pay a wealthy Iowa family are not justified under federal or state law.

NewEdge Securities was also ordered to pay disgorgement of $750,746 plus interest.