Jul 21, 2017 · Professor Jill Gross (Pace Law), comments on an unusual event in the world of FINRA arbitration. (See FINRA Arbitrator Writes Explained Award To Create Precedent). According to Gross, [In a recent case], one arbitrator on a three-arbitrator panel in Tullis v. Ameriprise Fin. Serv., FINRA Arb. No. 16-01261, chose to add an explanation to the ...
In any arbitration and subject to the ultimate discretion of the panel of arbitrators, except to the extent that these terms either limits or contradict FINRA rules, each side will: A - Be limited to a maximum of one (1) day of argument (including rebuttal), and the parties agree in good faith to minimize discovery burdens (e.g. confine the scope to actual areas in dispute and limit the topics and number of pages on which information is requested to matters directly relevant).
Jul 01, 2019 · FINRA removed the suit to federal court on the basis of federal-question jurisdiction, arguing, first, that the advisor's request was, in actuality, a plea to relieve FINRA of a duty arising under the Exchange Act and, second, that it would require the court to interpret a federal law - specifically, FINRA Rule 2080.
FINRA Jurisdiction Over Insurance Agent Activity Challenged In SEC Appeal ... In support of his claim, Wiley cites to FINRA's Code of Arbitration and associated case decisions that reference the insurance business activities exclusion under the Arbitration Code. According to Wiley, the terms of his service agreement with Farmers was a ...
Jul 11, 2012 · FINRA has jurisdiction and authority to supervise and discipline firms that violate its SEC approved rules. Financial institutions across the country are required to be members of the Financial Industry Regulatory Authority (FINRA), a self-regulatory organization.
Joseph focuses primarily on defending securities litigation and arbitration brought by the private clients and financial industry participants, as well as enforcement investigations and proceedings brought by the U.S. Securities and Exchange Commission, state regulators, FINRA, and other self-regulatory organizations (SROs).
The investor who files an arbitration claim ought not be penalized for doing so if FINRA jurisdiction is ultimately denied. Even though a customer might be subject to a contract with a mandatory arbitration clause, it is possible for FINRA to deny jurisdiction of his or her claim against a broker-dealer.
For those who are under FINRA’s jurisdiction, you will likely receive a notice under FINRA Rule 8210 if you have been terminated for cause or if a client files an arbitration or civil lawsuit against you or your firm relating to your conduct.