BrokeAndBroker.com Blog by Bill Singer Esq WEEK IN REVIEW

March 28, 2020

"All we can do is help each other." A heartbreaking story, powerfully told on CNN:


http://www.brokeandbroker.com/5137/securities-industry-commentator/
Securities Industry Commentator: A legal, regulatory, and compliance feed curated by veteran Wall Street lawyer Bill Singer http://www.rrbdlaw.com/5132/securities-industry-commentator/

http://www.brokeandbroker.com/5136/aegis-frumento-insecurities-plague/
Attorney Aegis Frumento laments that it may be that by the time the coronavirus pandemic is over, most of us will know someone who will have died. There may not be much we can do about it, he concedes, but if we are given the opportunity to make choices, Aegis hopes we all show the common decency to side with the victims and not to join forces with the pestilence.

In Praise Of NY Governor Andrew Cuomo (BrokeAndBroker.com Blog)
http://www.brokeandbroker.com/5135/andrew-cuomo/

My politics aside, Andrew Cuomo has been goddamn amazing the last couple of weeks. When he holds a press conference, he doesn't blow any smoke up our collective ass. He tells us that he's thinking about doing "A," but knows that there are problems with that option; and then he tells you that he is also thinking about doing "B," but isn't sure that it will be better than "A" and could be worse. After he sets out the agony of his choices, he makes one. He says that it's on me. He says that he was elected to make these hard decisions. He trusts New Yorkers to appreciate his candor and honesty, and also hopes that if he gets it wrong, we at least credit him for acting in good faith. Good faith ain't something we associate with politicians these days. Making unpopular decisions -- or making any decision at all -- isn't something we expect from any politician until after focus groups have weighed in and someone else is set up to take the blame if things don't pan out. As I have often quipped: We are a nation that ponders everything but resolves nothing. 

http://www.brokeandbroker.com/5134/securities-industry-commentator/
Securities Industry Commentator: A legal, regulatory, and compliance feed curated by veteran Wall Street lawyer Bill Singer http://www.rrbdlaw.com/5129/securities-industry-commentator/

http://www.brokeandbroker.com/5133/finra-waiver-arbitration/
In today's blog, we have the fascinating legal question of whether public customers had waived their right to pursue a FINRA arbitration. Things started off fairly mundane when the customers filed their FINRA Arbitration Statement of Claim. And then the customers entered into a stipulated dismissal of their FINRA claims. No longer parties in an arbitration, the customers hastened to the local courthouse and filed their claims in a civil Complaint. And then the customers had what comes off as a colossal second thought when they attempted to stop the state-court litigation and return to FINRA arbitration. It's as oddball a start-and-stop-and-start-and-lets-try-to-stop mess as it sounds.