Arbitration

Luis Aguilar also weighs in on arbitration and SEC oversight of FINRA.

FINRA arbitrators hit the brokerage giants with the penalty for failing to catch a husband moving funds from his spouse's account.

The 81-year-old widower also won an additional $12,000 for his elderly friend in a FINRA arbitration proceeding.

The adviser claimed she was unjustly fired from First Citizens Bank for allegedly making unauthorized bonus payments to her two sales assistants totaling $9,000.

The case centered on the supervision of a now-barred broker, whose misconduct included encouraging athletes to invest in a Miami Beach nightclub and sending baskets of tequila to pro sports teams, according to FINRA.

The proposal, which would allow more consumers to join class-action lawsuits over disputes, could drive up compliance costs. Agency director Richard Cordray wants more accountability.

Mark Immel had been awarded $450,000 in arbitration but faced further legal battles.