Arbitration

Although they praise certain changes in a rule up for SEC approval, client attorneys and researchers say the process has further flaws.

FINRA arbitrators ordered the wealth manager and closed-end funds manager to pay damages as it resolves outstanding claims stemming from the island’s fiscal crisis.

A barred broker’s alleged version of the “infinite banking” strategy recommended that clients liquidate their 401(k)s or IRAs to buy variable annuities.

Potential legislation from a more progressive Congress and pressure from activists groups could mean the end is near for forced arbitration.

The legislation re-introduced in Congress could give more clients the option of seeking damages through the courts.

Wealthy retail matriarch Beverley Schottenstein will accept less than the $10 million that FINRA ordered her two grandsons, former JPM brokers, to pay her for mismanaging her money.

Evan Schottenstein, without admitting or denying the findings, agreed to the sanction after FINRA concluded he wasn’t complying with its investigation.

Anthony Diaz began the sentence immediately after a hearing in which a victim said he should “rot in hell” for the felonies.

Impact investment manager Rachel Robasciotti and other advocates say the private proceedings are harmful to victims and helpful to firms protecting serial harassers.

The veteran FAs’ one complaint blotted their records for seven years.

The rare move to set aside the regulator’s ruling came more than a decade after the rep ran into trouble by adding notes about his client into a software program.

The dispute highlights the complicated nature of non-solicitation carve-outs when advisors switch firms.

The legal tussle represents the latest effort by a brokerage firm to enforce non-solicitation agreements against advisors.

Beverley Schottenstein accused the bank and the brokers of unauthorized trading of “multiple auto-callable structured notes and various other securities,” among other alleged misconduct.

The troubled alts manager’s charges will trigger many more arbitration proceedings and potential regulatory cases, plaintiff attorneys say.

Wealth managers acting as “downstream broker-dealers” allegedly made $187 million in commissions and other selling fees on GPB Capital investments.

Although in-person hearings aren’t banned outright, none have taken place since the onset of the coronavirus pandemic.

The firm’s talent-analytics associate director had claimed the company hired fewer women than men and that she was paid less than her male counterparts.

The bank was seeking to overturn some $400,000 in attorney fees awarded to four advisors as part of a $2 million case.

Pressing the bank for examples of non-solicitation violations, the judge cut off JPMorgan’s attorney: “you are dancing all around my question.”