In a Financial Industry Regulatory Authority ("FINRA") Arbitration Statement of Claim filed in March 2012, Claimants Hans and Doyle sought unpaid commissions. In the Matter of the FINRA Arbitration Between Peter D. Hans and Scott J. Doyle, Claimants, vs. FBR Capital Markets & Co.,Respondent (FINRA Arbitration 12-01131, March 20, 2013).
In their pre-hearing brief. Claimants requested the following:
Respondent FBR generally denied the allegations and asserted various affirmative defenses.
In October 2012, Respondent FBR filed a Motion to Dismiss, asserting, among other things, that Claimant Doyle had previously released his claims through a severance agreement with Respondent in which the payment of trailing commissions and/or the granting of shares of stock were addressed. In response, Claimant Doyle disputed that he had released his claim to trailing commission. In November 2012, the FINRA Arbitration Panel denied the Motion without prejudice.
The FINRA Hearing Panel found Respondent FBR liable and ordered it to pay to:
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