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Broker-Dealer › Arbitrators

Marshall Dennehey

Arbitrator Finds No Extraordinary Circumstances Existed That Would Permit the Equitable Tolling of FINRA’s Six-Year Eligibility...

Marshall Dennehey on

In an action filed in 2022 involving allegations of breach of fiduciary duty, negligence and fraud related to certain unspecified securities, an arbitrator granted the respondent broker-dealer’s motion to dismiss pursuant to...more

UB Greensfelder LLP

Some Ideas In Response To FINRA’s Recent “Discussion Paper” On Expungement

UB Greensfelder LLP on

FINRA recently published a “Discussion Paper” on expungement of customer dispute information in which it outlines its plans going forward on revising the expungement process. Expungement_Discussion_Paper.pdf (finra.org) (Let...more

UB Greensfelder LLP

FINRA Withdraws Proposed Expungement Rule Changes It Has Worked On For Four Years After Pushback From SEC

UB Greensfelder LLP on

Today FINRA announced in a press release here that it has withdrawn from SEC consideration its proposed rule changes regarding the expungement process. The proposed rule changes were dramatic and included the creation of a...more

UB Greensfelder LLP

JAMS vs. FINRA Arbitrations . . . And The Winner Is JAMS

UB Greensfelder LLP on

So I spent last week – the whole week – doing an arbitration with JAMS. It involved some of the typical elements of a FINRA claim, e.g., allegations of the sale of an unregistered security, of an “investment” gone bad, of...more

UB Greensfelder LLP

FINRA Is About To Make It MUCH Harder To Obtain Expungement – Part Two

UB Greensfelder LLP on

The second dramatic change to the expungement process under the proposed rules relates to who will be deciding the expungement request. Thankfully, FINRA will still have arbitrators decide expungement requests, not the...more

UB Greensfelder LLP

What Happens When Potential Arbitrators Don't Answer The Phone

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I think that most lawyers who handle arbitrations, no matter what side of the table they occupy, would agree that one of the most important components of the case – perhaps the most important – is the selection of the...more

UB Greensfelder LLP

Dog Bites Man: FINRA's Proposed Amendments To Code Of Arbitration Procedure Put Customers' Interests Ahead Of Members'

UB Greensfelder LLP on

As I have mentioned before, several times, PIABA is deathly concerned with the fact that sometimes customers who prevail in arbitrations are unable to collect their awards, which typically happens when the respondent firm...more

UB Greensfelder LLP

PIABA's Anti-Expungement Tirade Is Predictably Short On Facts

UB Greensfelder LLP on

Here is how PIABA’s one-track mind operates: in a Report it just issued, PIABA laments the frequency with which registered reps are able to get customer complaints expunged from their records. The sole reason for this, PIABA...more

Proskauer - Corporate Defense and Disputes

FINRA Arbitration Task Force Fails To Reach Consensus On Many Major Issues

Proskauer - Corporate Defense and Disputes on

The FINRA Dispute Resolution Task Force issued its final report last week, making certain recommendations designed to improve the arbitration process. More notably, however, the Task Force reported that it was unable to reach...more

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