Broker Commissions

News & Analysis as of

Fifth Circuit Finds Parties Can Authorize Arbitrators By Their Conduct

The Fifth Circuit un-vacated an arbitration award last week, holding the district court had wrongly concluded that the court was the proper decision-maker on contract formation.  Although courts are presumptively authorized...more

Tough Sell for Bechtel: American General Files Suit in Florida

On January 29, 2015, American General Life Insurance Company filed a complaint against Kevin H. Bechtel and Life Brokerage Partners, LLC, in the United States District Court for the Middle District of Florida, Tampa Division....more

An Update on Dealing Commissions and Market Abuse

Last week the Financial Conduct Authority (FCA) published two papers likely to have a significant impact on the day-to-day operation of investment fund managers in the immediate and medium term....more

Lawsuit Alleges Unlawful Insurance Scheme Involving Commission Pooling for the Purpose of Procuring IUL Policies That...

On February 13, 2015, Transamerica Life Insurance Company filed a lawsuit in the Central District of California concerning an allegedly unlawful insurance scheme in connection with the sale of indexed universal life insurance...more

Summary Judgment Affirmed by Sixth Circuit in Broker Commission Price-Fixing Litigation

On November 13, 2014, the Sixth Circuit Court of Appeals upheld the dismissal of price-fixing claims against two home brokerage service firms in Kentucky, McMahon Co. and HomeService of America, Inc. Hyland, et al. v....more

Reverse Churning

It is obvious that broker-dealers and their registered representatives, as well as investment advisors, must be careful in making recommendations to their clients. But the rise of claims related to inaction in a client...more

Claims Against Loan Servicer And Force-Placed Insurer Alleging Commission And Reinsurance Kickback Scheme Survive Dismissal

A putative class action involving force-placed home insurance and an alleged scheme for mortgage lenders to obtain kickbacks in the form of commissions, reinsurance premium, and other fees, has survived a motion to dismiss. ...more

SEC Sanctions Investment Adviser for Pushing Class A Shares When Investors Qualified to Buy Institutional Class Shares

The Securities and Exchange Commission sanctioned an investment adviser and its owner for failing to seek best execution and breaching their fiduciary duty in selecting mutual fund share classes for three advisory...more

Rogers Towers: Garnishing Professional Fees After Close of Bankruptcy Proceeding

It is not an uncommon practice for commercial lenders or real estate owners to employ a broker to assist with the sale of property for a commission. Recently, a corporation owning a marina in South Florida filed for Chapter...more

Burr Alert: Proposed FINRA Rules Governing Markups, Commissions And Fees

Through its recent Regulatory Notice 13-07, the Financial Industry Regulatory Authority ("FINRA") announced and sought comments on its proposed amendments to rules governing markups, markdowns, commissions and fees associated...more

FINRA Proposes Keeping the 5% Rule on Markups; Also Plans to Revise QIB Standards on Debt Securities

Habits can be tough to break. In 2011, FINRA attempted to break the broker-dealer industry’s habit of relying upon a 5% ceiling for equity markups by proposing a new FINRA Rule 2121 that would eliminate the so-called “5%...more

New Jersey Department of Banking and Insurance Clarifies Restrictions on the Payment of Commissions, Rebates and Other Inducements...

The New Jersey Department of Banking and Insurance ("NJDOBI") issued a Bulletin to title insurance companies and producers and to real estate brokers, broker-salespersons and salespersons advising them of the restrictions on...more

FINRA Offers Changes to Proposed Rules Governing Markups, Commissions and Fees

In February 2011, the Financial Industry Regulatory Authority initially sought comment on proposed rules governing markups, commissions and fees...more

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