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Client wins $262K arbitration award from Wells Fargo

Bank Investment Consultant

A FINRA arbitration panel has ordered Wells Fargo Advisors to pay a former client more than $262,000 for failing to promptly liquidate his brokerage account, according to a recent FINRA filing and details provided by the client’s lawyer. Jeffrey Ball, a Los Angeles psychologist, gave the firm written instructions to close the account because he […]

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Brokerages walking away from arbitration awards


Original Story It’s no secret that small broker-dealers are struggling to keep their doors open as technology, compliance and legal costs continue to increase, especially as they prepare to put weighty new regulations such as the Department of Labor’s fiduciary rule into place. Indeed, the decline of the broker-dealer industry continues. According to the Financial […]

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Aidikoff, Uhl & Bakhtiari Announces Filing Of FINRA Arbitration On Behalf Of Former Customers of Independent Financial Group broker Kenny Kim

Globe Newswire

  Aidikoff, Uhl & Bakhtiari and the Law Offices of Patrick R. Mahoney, P.C. announce the filing of a FINRA arbitration and its continuing investigation of the sales practices of former Independent Financial Group broker Kenny Kim for his management of client accounts and unsuitable recommendations of private non-traded REITs, annuities, structured products, and C-share […]

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Investor Plaintiff Lawyers Expect More Victories With DOL Rule

Financial Advisor

Investor plaintiffs’ lawyers say the Department of Labor’s fiduciary rule will give them some extra leverage in winning damages from arbitration panels—but they don’t expect a huge windfall. The DOL rule gives investors the right to file arbitrations or class-action claims for violations of the rule, giving rise to industry concerns about increased liability. Sure […]

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Finra Wants to Expand Arbitrator Pool Choices

Financial Advisor IQ

The securities industry’s self-funded watchdog is moving forward with a rule to bump up the number of arbitrators available to be selected for panels judging claims against brokers. In a filing to the SEC earlier this month, the Financial Industry Regulatory Authority proposed to increase to 15 from 10 the number of “public” arbitrator candidates available […]

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