Things just didn't end well between registered rep Dowley and his former employer UBS. There was that ticklish issue about repayment of an employee forgivable loan ("EFL") and the whole dispute over whether UBS had permanently closed its Aspen, Colorado office where Dowley worked.
Why was the open or shut nature of the Aspen office so critical? Well, consider this provision in Dowley's EFL agreement that excused repayment if:
the office in which the Employee is working [was] permanently closed by [UBS], and the next closest [UBS] office is more than 25 miles from the office closed, and the Employee chooses not to relocate to such next closest or to any other [UBS] office.
A Financial Industry Regulatory Authority ("FINRA") Arbitration Panel wrestled admirably with this case. The evidence seemed evenly distributed between both sides -- and the scales tipped precariously if merely breathed upon.
READ BILL SINGER'S ANALYSIS OF THIS CASE AT
The 2015 Flash Crash is the Wall Street gift that keeps on giving. In today's blog we got a FINRA arbitration and two federal lawsuits. Then we got sp... Read On
Schwab Intelligent Portfolios ("SIP") was advertised as a robo-adviser that didn't charge advisory fees; however, from March 2015 through November 201... Read On
GUEST BLOG [In]Securities: Highwaymen: The SEC Pulls Off a Brinks Heist by Aegis Frumento Esq (BrokeAndBroker.com Blog)https://www.brokeandbroker.com/... Read On
[In]Securities a Guest Blog byAegis J. Frumento, Partner, Stern Tannenbaum & BellHighwaymen: The SEC Pulls Off a Brinks HeistAside from pirat... Read On
The Report of the Independent Review of FINRA's Dispute Resolution Services -- Arbitrator Selection Process (June 28, 2022) https://www.finra.org... Read On