This post was written by Terence Healy and Daniel Herbst. A recent ruling by a hearing panel of the Financial Industry Regulatory Authority (“FINRA”) could provide a path to effectively kill customer class actions against brokers. On February 21, a FINRA panel upheld an arbitration clause in a Charles Schwab and Co. customer agreement which … Continue Reading
With just a few weeks remaining until the close of the comment period (ending March 5, 2013), the brokerage industry nearly uniformly has given a chilly reception to FINRA’s proposal to require disclosure of broker recruiting incentives to customers when an individual broker is recruited to a new firm. FINRA’s Regulatory Notice 13-02 proposes mandatory … Continue Reading
