May 16, 2020
Ah yes . . . the old Wall Street game of hardball! Time and time again during my decades in the biz I've seen this particular bit of nasty gamesmanship. If you believe James' version of events, he was being strong-armed by Investacorp to sell his book of business on less than favorable terms. If you believe Investacorp's version of events, the firm simply thought it was acting in the best interests of James' clients and out of concern for some pending regulatory issues. All of which tends to devolve into we can do this the easy way or the hard. Funny how it's almost always the latter option.
Guest Blogger Aegis Frumento, Esq. considers the recent Supreme Court reversal of the convictions in Bridegate and the motion by DOJ to dismiss criminal charges against Michael Flynn -- and Frumento wonders: When should the law get involved? It's a big question. And in these times of political turmoil and pandemic, it's a question worth asking and one that Frumento attempts to answer.
As the pandemic sweeps across the financial services industry, trading floors are eerily quiet, desks are bereft of men and women, offices are darkened -- and much of what passes for doing business is conducted from home. In a recent FINRA Intra-Industry Arbitration case, we see the shadow of COVID cast a long and dark presence over our industry. We have a former Barclays derivatives trader with a nearly 16-months-old employment dispute waiting to be heard by FINRA arbitrators. We have an arbitration hearing conducted by ZOOM.