Broker- Dealer Law Corner

Broker- Dealer Law Corner

Category Archives: Arbitration

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If You’re a Respondent, Time is NOT on Your Side

Posted in Arbitration, Defenses, Disciplinary Process, Enforcement, FINRA, Registered Representative, SEC
There was a decision this week from the D.C. Circuit Court of Appeals on an appeal of a decision by a respondent who – stop the presses! – lost an SEC administrative proceeding, and then lost his appeal to the SEC. Montford and Company, Inc. v. SEC, No. 14-1126 (July 10, 2015). One of the… Continue Reading

To Mediate or Not: Arbitration v. Enforcement

Posted in Arbitration, Disciplinary Process, Enforcement, FINRA, Mediation, Settlements
I recently had two clients, both respondents in pending matters – ask me the same question in the same day: should I mediate this case? The answers I gave them differed dramatically, not just because the facts of each case were very different, but because one case was a customer arbitration, where we are defending… Continue Reading

The Mystery Why FINRA “Close-Out” Letters Are Inadmissible in Arbitrations

Posted in Arbitration, FINRA
Anyone who’s handled FINRA arbitrations is well familiar with panelists who regularly respond to evidentiary objections by overruling them, but with the admonition that they will only give whatever weight, if any, to the evidence that they deem appropriate. While that can sometimes be frustrating, it is understandable. The Federal Arbitration Act, and the many… Continue Reading
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