When BrokeAndBroker.com Blog's Bill Singer describes a FINRA Arbitration Decision as a "disgrace," you have to know that he's really worked up and angry. Today, his ire is focused on an award of over $7.5 Million in an employment dispute between what appears to have been former military service veterans against Goldman Sachs & Co. As Bill so often asks in exasperation with FINRA: What the hell happened here and why won't you tell us? READ
On December 8, 2014, the United States Court of Appeals for the Second Circuit ("2Cir") In re: Bernard L. Madoff Investment Securities LLC (2Cir, 12-2557, December 8, 2014) affirmed the Southern District of New York's findings that declined to grant clawbacks to the bankruptcy trustee. FULL-TEXT Court Opinion Online at BrokeAndBroker.com. READ
Stripped to its basics, federal prosecutors had charged that portfolio managers Anthony Chiasson and Todd Newman; and analysts Sam Adondakis, Jesse Tortora, Jon Horvath and Danny Kuo shared inside information about such firms as Dell and Nvidia with each other, and the analysts forwarded their findings on to their portfolio managers. In a dramatic ruling, the federal appeals court reversed the convictions of two defendants. FULL-TEXT Court Opinion Online at BrokeAndBroker.com READ
And now a trip back to the Federal Bureau of Investigations ("FBI's") online archive: "The Vault." This time we examine the just uploaded FBI files involving a seemingly mundane request from the producer of the blockbuster film "Goldfinger." READ
You join a firm. You work there. At first, it's wonderful but, as these things often go, the wonderful fades and you begin to think of moving on. Then you learn of another opportunity, one which seems better than your present arrangement. At this point, it gets dicey. You think you have the right to compete with your former firm. Your former firm thinks that your idea about competition is based on a whole lot of illegal and tortious conduct, all of which gives rise to allegations that you stole confidential information and used it to talk smack about your former firm in an effort to get your accounts to transfer. Then, for good measure, someone at the former firm writes some nasty stuff on your Form U5 -- you say it's all lies but they say it's the truth. In today's BrokeAndBroker.com Blog, we consider a case in which many of the issues noted above get played out at an arbitration hearing. READ
The FINRA Regulatory Mule Kicks Defrauded Customers In the Head (BrokeAndBroker.com Blog)
https://www.brokeandbroker.com/6852/finra-anderson-hard... Read On
In today's Blog we got a FINRA regulatory decision, a state court judgment, a bankruptcy, and a federal court action. As the legal matters now stand, ... Read On
When considering an appeal questioning FINRA's denial of an expungement request, the SEC seems to have approached its deliberation as a cat toying wit... Read On
A public customer filed a FINRA Arbitration Statement of Claim against Wells Fargo Advisors and asked for no less than $100,000 in damages. The arbitr... Read On