It started as a FINRA arbitration in which an associated person alleged that she was fired in retaliation for reporting misconduct. Among her claims, she alleged that she was a protected whistleblower. In her Complaint, she had named Ameriprise and three individual respondents. The FINRA Arbitration Panel granted Respondents' motions to dismiss. The case moved on to federal district court, and, from there, to federal appeals court.
Wall Street is about nothing if not money. In today's featured dispute, we got a transitional bonus. We got production bonuses. We got promissory notes. We got a FINRA arbitration about Wells Fargo's efforts to collect $1.6 million in balances due. We got a federal court trying to figure out what was a bonus, what was a loan, and whether the arbitrators got the facts right. And now we got a Motion to Reconsider.
So . . . the other day, April 9, 2021, I came across another one of FINRA's urgent, all-important, uber-critical Regulatory Notices. This one was numb... Read On
On April 12, 2021, the New York Stock Exchange ("NYSE") announced that it would be minting its first Non-Fungible Tokens ("NFTs") in order to memorial... Read On
If you file a securities fraud claim under Section 10(b) of the Securities Exchange Act of 1934, a basic element of your proof must be to show th... Read On
Customer Complaints and Away Settlements -- Matters of Interpretation? (BrokeAndBroker.com Blog)http://www.brokeandbroker.com/5788/finra-complaint-set... Read On
A lot of what passes for misconduct on Wall Street is a matter of interpretation. You say that you did or didn't do something. Your firm's compliance ... Read On
Yet again, I say. Yet again. Wall Street's lackluster regulatory scheme fails to proactively detect an oncoming tsunami, and the markets get flooded. ... Read On
Over a decade ago, when the stock markets were cratering in the wake of the Great Recession, investors saw their pre-2009 gains vanish. Lots of black ... Read On