Menu
All articles tagged '"FINRA"'
36 articles found
Opening the Floodgates of Small Customer Claims in FINRA Arbitration
By Beth Graham - February 10, 2015
Teresa Jacqueline Verges, Lecturer in Law and Director of the Investor Rights Clinic at the University of Miami School of Law has published, “Opening the Floodgates of Small Customer Claims in FINRA Arbitration: FINRA v. Charles Schwab & Co., Inc.,” 15 Cardozo J. Conflict Resol. 623, 2014. In her article, Professor Verges examines the effect that recent U.S. Supreme Court decisions regarding the Federal Arbitration Act have had on the Financial I
FINRA Orders Wealth Management Firm to Pay 19 Exxon Retirees $3.8 Million
By Beth Graham - November 25, 2014
A Financial Industry Regulatory Authority (“FINRA”) arbitration panel has reportedly ordered a Houston-based wealth management company to pay 19 retirees a total of $3.8 million for mismanaging their investment accounts. In the case, a group of former Exxon-Mobil Corporation employees claimed that USCA Capital Advisors LLC mislead them about the company’s investment strategy and performance.
SEC Seeks Additional Public Comments Over Proposed Changes to Who May Serve as a FINRA Public Arbitrator
By Beth Graham - October 2, 2014
On October 1st, the nation’s Securities and Exchange Commission (“SEC”) reportedly extended its review of a Financial Industry Regulatory Authority (“FINRA”) proposal to revamp how arbitrators are selected in disputes between brokerages and consumers.
FINRA Announces Arbitration Task Force Created to Address Criticism
By Beth Graham - July 29, 2014
The Financial Industry Regulatory Authority ("FINRA") recently announced the formation of a task force that will examine possible improvements to “the transparency, impartiality and efficiency of FINRA's securities arbitration forum for all participants.”
FINRA Considering Whether Firms Should be Required to Carry Insurance to Pay Arbitration Awards
By Beth Graham - October 4, 2013
The Financial Industry Regulatory Authority (“FINRA”) is reportedly considering whether to require brokerage firms to purchase and maintain errors and omissions insurance policies that would be used to pay investors following arbitration.
FINRA Board Approves New Rule for Selecting Arbitral Panels
By Beth Graham - April 23, 2013
Last week, the Financial Industry Regulatory Authority (FINRA) Board approved a measure that may make it easier for investors to select arbitrators in a dispute against a securities brokerage. The newly approved measure would authorize the parties to a dispute that exceeds $100,000 to select a panel chairman, a public arbitrator, and an arbitrator with industry ties from a FINRA list immediately.
FINRA Hearing Panel States FAA Preempts Rules Permitting Class Action Claims
By Beth Graham - March 6, 2013
A Financial Industry Regulatory Authority (FINRA) panel has stated broker-dealer Charles Schwab may enforce a class action waiver included in its customer arbitration agreement despite the existence of a FINRA rule that prohibits such waivers. According to the panel, the FINRA rule is preempted by the Federal Arbitration Act (FAA). In Department of Enforcement v. Charles Schwab & Company, Inc., No. 2011029760201, FINRA’s Enforcement Departmen
Fourth Circuit Decides FINRA Rules to Govern Dispute Over Auction Rate Securities
By Beth Graham - February 5, 2013
A federal appeals court has ruled that two Wall Street brokerages must arbitrate a $234 million auction rate securities claim in a dispute with a healthcare organization over what exactly constitutes a customer. In January, a panel of the United States 4th Circuit Court of Appeals held that Carilion Clinic was a customer of UBS AG and Citigroup, Inc. pursuant to the Financial Industry Regulatory Authority‘s (FINRA) securities arbitration ru
Fifth Circuit Reverses the Vacatur of a FINRA Award Because the Award was not Procured by Fraud and the Arbitrators did not Exceed Their Powers
By Victoria VanBuren - November 15, 2012
by Jeremy Clare The United States Court of Appeals for the Fifth Circuit reversed the vacatur of a FINRA Award because it disagreed with the district court’s finding that the award was procured by fraud, or in the alternative, that the arbitration panel exceeded its powers. Background In Morgan Keegan & Company, Inc., v. Garrett, et al, No. 11-20736 (5th Cir. Oct. 23, 2012), a group of eighteen investors (“Garrett”) brought a claim of statuto
Forbes: Lehman Brothers Loses Nearly $500,000 Collection Case Against Former Employee
By Victoria VanBuren - November 1, 2012
Forbes has an interesting article regarding the recent FINRA arbitration Lehman Brothers Holdings v Adam David Sloan (FINRA Arbitration 11-01774, October 17, 2012): In a Financial Industry Regulatory Authority (“FINRA”) Arbitration Statement of Claim filed in May 2011, Claimant Lehman Brothers sought to recover by the close of the hearing $357,142.86 in outstanding principal; $79,244.88 accrued interest; and $53,571.43 in collection costs.
Legal Research
Recent Posts
Search
Legal Research
© 2026, Karl Bayer. All rights reserved. Privacy Policy