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In a decision that left out the details of alleged discrimination and tensions within the firm, a FINRA arbitration panel granted the broker's expungement request.
It's virtually unheard-of for financial services companies to go after their own lawyers, who wield immense power over their secrets. One expert calls it "playing with fire."
More financial advisors are accusing independent wealth managers of acting like wirehouses and other employee brokerages upon their departures.
A 38-year veteran financial advisor won a significant award in FINRA arbitration after a brokerage claimed he made unauthorized trades.
Critics of FINRA’s current system for removing client complaints from brokers’ records are seeking to vacate an arbitration award.