Wells Fargo ordered to pay ex-broker $1.4M in FINRA arbitration
Arbitrators granted the wirehouse damages for payment of a promissory note but slammed the conduct of a “management-level employee.”
Source: financial-planning.com
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Credit Suisse ordered to pay $150,000 in FINRA arbitration
The U.S. brokerage arm of the Swiss bank must pay damages under a FINRA arbitration case otherwise found to be ‘clearly erroneous.’
Source: financial-planning.com
Merrill Lynch loses FINRA arbitration defamation case
An arbitrator ordered the minuscule payment despite taking the wirehouse to task in the ruling.
Source: financial-planning.com
U5 defamation missing from expungement reforms
Despite standout defamation awards, such as a $13.5 million payout to an ex-UBS rep, advisors and attorneys say firms are abusing their U5 power.
Source: financial-planning.com