FINRA
Finra Postpones In-Person Arbitration Hearings Until May 1
The regulator updated earlier guidance from a week ago that had allowed cases to proceed on an ad hoc basis.
Ex-Morgan Stanley Manager Fujihara Settles Firearms Business Charge
Ben Fujihara, former manager of large Morgan Stanley complex in Dallas, agreed to a 30-day regulatory suspension and $5,000 fine for unapproved outside activities.
Finra to Modify Some Expungement Restrictions
Will extend the deadline for some brokers seeking expungements to two years from the originally proposed one year, and will not require unanimity from three arbitrators.
Broker Fired for Doing Merrill Client a Solid Wins Defamation Claim
A Merrill Edge broker who accommodated a client by altering an account-opening document wins expungement of dismissal language that arbitrators found “defamatory.”
Merrill Prevails in Arbitration with Former Brokerage Head LaMothe
Lyle LaMothe, who led Merrill’s brokerage force from 2008 to 2011, is one of dozens of former executives who sued after the value of his stock tanked during the financial crisis.
Former Merrill Beverly Hills Manager Wins Expungement Quest
Longtime Merrill manager who settled sex-discrimination lawsuit against firm gets “defamatory” language about his dismissal removed from regulatory records.
WhatsApp Messages Trip Up Florida Broker
Finra suspends Aegis broker for 30 days and fines him $5,000 for sending hundreds of messages to overseas customers through unapproved third-party app.
Pershing Ordered to Pay $5.6 Mln to Victims of Stanford Ponzi Scheme
In a rare award for investors burned by convicted fraudster R. Allen Stanford, an arbitration panel on Wednesday ordered his defunct company’s clearing firm to pay 23 of them $5.64 million.
Stifel and Pittsburgh Broker Ordered to Pay Client $500K for Unsuitable Investments
Broker allegedly over-concentrated investments and traded excessively in stocks and a leveraged ETF.
Schwab Awarded 16-Month Injunction Against Broker Who Jumped
Virginia advisor who joined an LPL-affiliated firm two years ago agrees to refrain from further calling former clients, even if he had contact information from memory, but avoids monetary penalties.
Finra Seeks Higher Expungement Fees by Closing $1-Claim Loophole
Firms and brokers would pay $9,100 more per expungement claim and be subject to three-person arbitration panel under proposed rule change.
