Arbitration

FINRA plans to add 1,000 new arbitrators this year to improve its troubled dispute resolution process, but offers few new details on some of its largest challenges.

The adviser contended that not a single one of her clients from Schwab transferred their accounts over to J.P. Morgan.

The adviser claimed PNC falsely accused him of not having met with two clients for their annual review and challenged the firm for writing him up for falsifying documents.

The firm failed to promptly liquidate his $3 million brokerage account, the client's lawyer argued during the hearing.

The Swiss firm alerted brokers that they may take their disputes to FINRA instead of resolving them in a private forum set up by the company.

The case is the latest related to alleged misconduct by a barred wirehouse broker who was also a nightclub owner.

The adviser was also ordered to pay $300,000 to cover Wells Fargo's legal fees.

Client claimed that adviser's recommended strategy earned fees and commissions for the bank but wrecked his inheritance from his great grandfather.

George Merhoff poured his clients' portfolios into a handful of energy stocks that plummeted in value, ex-clients allege in arbitration cases.

The adviser allegedly placed more than 700 trades over three years, giving the client "little to no possibility" for a profit, the regulator says.