August 15, 2015

In Khaled Asadi, Plaintiff-Appellant, v. G.E. Energy (USA), L.L.C., Defendant-Appellee (12-20522, July 17, 2015), the United States Court of Appeals for the Fifth Circuit ("5Cir") considered the appeal of Asadi, who had alleged that G.E. Energy violated the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 ("Dodd-Frank") when the company wrongfully terminated him after he had internally reported a possible securities law violation pursuant to the Foreign Corrupt Practices Act.

The Southern District of Texas granted G.E.'s motion to dismiss for failure to state a claim because that trial court found Asadi had not qualified as a Dodd-Frank "whistleblower." The District Court found that Asadi's extraterritorial whistleblowing activity was not covered under Dodd-Frank. READ how the SEC has responded.

7 Year Arbitration Saga Ends In Ashes For Public Customers

The Financial Industry Regulatory Authority ("FINRA") Arbitration Statement of Claim under consideration today was filed in 2008. The age of that filing is very unusual and immediately suggested to me that something odd was underfoot in this case, which prompted me to read the Decision. In the distance, we see the bold Odysseus struggling to return home.  His wife Penelope has tired of awaiting his return and has gone out with the local Greek chorus to a trendy Ouzo bar. Young Telemachus has taken to smoking weed and will not train for the Olympics. Old Laertes is looking for a small blue pill. If you like ancient sagas, this arbitration is one for the books. READ

UPDATE 2: Law Professor FINRA NAC Member Files Defamation Complaint

This article provides a second update to "Law Professor FINRA NAC Member Files Defamation Complaint" (, June 29, 2015), which is reprinted and followed by a discussion of the Defendant's August 10, 2015, Motion to Dismiss.  READ


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On August 7, 2015, the Securities and Exchange Commission's ("SEC's") Office of the Inspector General issued an Interim Report of Investigation (15-ALJ-0482-1). This dramatic Report was purportedly in response to "allegations of bias on the part of Administrative Law Judges in the Commission's Administrative proceedings."  READ

Former Deutsche Bank LatAm Transactions Head Wins Millions In Whistleblower Retaliation Case

Today's featured arbitration Claimant was a big shot at Deutsche Bank; except, geez, you really wouldn't know it from reading the FINRA Arbitration Decision. Although this high-profile executive filed a whistleblower retaliation claim against his former firm and sought millions in damages, we don't learn about the substance underlying his complaints. As many Blog readers know, I often complain about the lack of adequate "content and context" in FINRA Arbitration Decisions; and, sadly, what emanates from this FINRA arbitration is more titillation than substance. READ