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Morgan Keegan seeks to reverse sports agent ruling

Yahoo! Sport UK

Morgan Keegan & Co is hoping to recover money lost to a professional sports agent, who was awarded $400,000 in a securities arbitration ruling against the brokerage last week. The Memphis, Tennessee-based firm filed a court action in New York on Wednesday to overturn the ruling by a Financial Industry Regulatory Authority arbitration panel, which […]

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Schwab to reimburse clients arbitration fees-CEO

Thomson Reuters

The head of Charles Schwab Corp on Thursday said the company will reimburse customers for arbitration fees in cases they file against the brokerage while a California federal court sorts out a legal dispute related to a regulatory action involving the company. “We have a fundamental disagreement” with the Financial Industry Regulatory Authority, said chief executive Walt Bettinger […]

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Common-Sense Approach

Southern California Super Lawyers

In the past two years, Philip M. Aidikoff, a mild-mannered securities litigator with Aidikoff, Uhl & Bakhtiari, a boutique firm of six lawyers in Beverly Hills that primarily handles securities arbitrations, has grabbed headlines with back-to-back, record-setting decisions against Citigroup’s Smith Barney brokerage unit. When asked how he does it, Aidikoff smiles and points to […]

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All-public panels are a hit with investors, Finra says

Investment News

After nearly a full year, the Financial Industry Regulatory Authority Inc.’s program to let investor plaintiffs exclude industry arbitrators from hearing panels has proved more popular than expected. So popular is the program, in fact, that it could ease concerns about industry bias and help quell calls to end mandatory arbitration. From the start of […]

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Sophisticated Investor Defense Losing Steam

Dow Jones Compliance Watch

One of Wall Street’s favorite defenses against claims by unhappy investors may be losing steam. The often-used argument that the claimant was a sophisticated investor, and thus should have understood the risks of an investment that went bad, was weakened in the 2008 financial crisis, according to experts in securities law. A lot of wealthy […]

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