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Ami Forte Presses for Back-Pay from Morgan Stanley, the Company She Loved

AdvisorHub

Original Story Reasonable advisors can differ over whether Morgan Stanley’s recent dismissal of Amy Forte was fair comeuppance for her dalliance with a billionaire client whose account she allegedly churned. Her latest crusade may draw more unanimous support from the community. The southern Florida ex-broker has gone public with an arbitration claim she’s pressing against the world’s […]

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Why Plaintiffs Firms Will Love DOL's New Fiduciary Rules

Law360

The U.S. Department of Labor’s fiduciary rules give more power to retirement savers, experts said, providing investors and their attorneys an important new tool to bring claims when they suspect their broker-dealer doesn’t have their best interests at heart. “As night follows the day, there will be more litigation,” Skadden Arps Slate Meagher & Flom LLP partner […]

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Law360's FINRA Arbitration Survival Guide

Law360

Just because the Financial Industry Regulatory Authority’s dispute resolution process promises to be quicker, cheaper and simpler than heading to federal court doesn’t mean it is a walk in the litigation park, experts say. Instead, the forum has its own idiosyncrasies that can sink even seasoned trial lawyers. A forum unlike others, FINRA arbitration is the […]

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S.E.C. Settlement With Citigroup Holds No One Responsible

New York Times

How can we expect Wall Street’s me-first culture to change when regulators won’t pursue or even identify the me-firsters who are directly involved? That question came to mind after reading the terms of a settlement struck on Aug. 17 between the Securities and Exchange Commission and two units of Citigroup. It is a deal that […]

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Finra sweep homes in on conflicts in broker pay

InvestmentNews

Original Story Finra is taking a closer look at the potential conflicts of interest in how firms pay their brokers. In targeted exam letter, the Financial Industry Regulatory Authority Inc.queries firms about a broad range of compensation practices, from the common payout grids, which determine how much of their annual revenue their brokers take home, to […]

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