A Finra arbitration panel in Boca Raton, Florida found two former brokers and J.P. Morgan liable in a case brought by the brokers’ 94-year-old grandmother for unauthorized trading and elder abuse.
Brokers who brought a ‘constructive discharge’ claim against the firm in 2017 have agreed to repay the balance on six promissory notes, according to an arbitration award.
Firm requested more than $938,000 from New Jersey broker it accused of taking confidential data in breach of his employment contract, and was awarded $5,500.
Florida advisor argues that an arbitrator’s quick designation shift to public from non-publication arbitrator invalidates the October promissory notes decision.
Alleges that six-broker team in Illinois that joined Stifel two months ago lied about their possession of client-contact data—violating their employment contracts and their new firm’s “Non-Protocol Transition Guide.”
New York City advisor who was shifted from a Wells bank branch to a brokerage office accused the bank of confiscating his and a partner’s deferred comp, growth award and lost opportunity costs.
New website lists those who have not paid customer awards, including those who cite bankruptcy as reason for their delinquency.
New York judge says some named plaintiffs in the “Kathy Frazier” racial and gender case can pursue complaints of discriminatory teaming and pooling policies in arbitration.
Unusually swift expungement award to UBS advisor in Boca Raton reflects recanting of complaint from one former customer and confused testimony from another.
Arbitrators also order bank to forgive New York broker’s promissory note and change wording on regulatory filings to show that it unjustly fired him.
Independent broker-dealer Cambridge Investment lost arbitration request for more than $390,000 from advisor fired for block-trading issues.