Johnny Burris is a former J.P. Morgan financial advisor who alleged that he was coerced by the bank to sell company-owned financial instruments. Burris felt uncomfortable pushing some in-house product on his customers because he found the attendant higher costs inappropriate and unwarranted. He declined to drink the corporate Kool-Aid. As he tells the story in the video presentation below, in response for trying to do what he thought was in his customer's best interests, he became a whistlebower, for which he asserts that he was fired and retaliated against.
Burris asserts that top executives were aware of what he characterizes as illegal violations of banking laws and OSHA laws against discrimination and retaliation. He also warns that whistleblowers may find themselves in the cross-hairs not only of prominent industry firms but also of the industry's regulators. His is an unflattering view about the self regulation of Wall Street, and he raises troubling questions about strings and who is pulling them. READ and WATCH http://www.brokeandbroker.com/3516/burris-whistleblower/
In a recent FINRA expungement arbitration, a registered person challenged an 11-year-old customer complaint. In the ensuing years, the brokerage firm had gone out of business and many records were long-since destroyed or lost. Talk about an uphill battle! In the end, the registered rep prevailed and how she did it and why the arbitrator ruled in her favor are worthwhile lessons. READ http://www.brokeandbroker.com/3515/expungement-finra-welborn/
To most Wall Street observers, today's BrokeAndBroker.com Blog
's featured FINRA arbitration is a ho-hum, garden-variety dispute between an employer and employee. What often makes the BrokeAndBroker.com Blog
an edgy read, however, is the quirky viewpoint of its publisher Bill Singer, Esq. And Bill is in all his edgy glory today as he savages a mandatory intra-industry dispute. By way of a teaser, the former employee Claimant sought between $48,000 and $606,658; and the former employer Respondent filed a Counter-Claim seeking $72,083.52. How and why the panel of arbitrators awarded $8,000 to the Claimant is a mystery. Speaking of how and why, who said "I Can't Explain?" Yeah, that's right.
What is? Not what, Who
. READ http://www.brokeandbroker.com/3514/bill-singer-finra-arbitration/