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What cases can be submitted for FINRA Arbitration?

By Blog

FINRA’s arbitration process is designed to handle a wide range of disputes that arise within the securities industry, including: Disputes between investors and brokers: This includes cases involving fraudulent investment advice, misrepresentation, breach of fiduciary duty, churning, unauthorized trading, and failure to supervise. Disputes between advisors and brokerage firms: This includes cases involving employment disputes, compensation issues, promissory notes, and…

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LSC Celebrates Its One Year Anniversary

By Blog, Firm News
A year full of legal victories and growth We are thrilled to celebrate our firm's one year anniversary! It has been an incredible journey filled with triumphs and growth. We are grateful for the opportunity to serve our clients and the community, and we look forward to continuing to do so for many years to come. Over the past year,...
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Selling Away

By Blog

Selling Away – FINRA Rule 3040 Selling away is when a securities broker buys, sells, or solicits securities that are not approved by the broker’s firm. This is against the rules set by FINRA (Financial Industry Regulatory Authority), particularly FINRA Rule 3040, and other securities laws. Selling away often involves fraudulent investments, private placements, and promissory notes. For broker-dealers, selling…

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How do FINRA arbitration panels work?

By Blog

FINRA Arbitration Process Arbitration is a method of resolving disputes that serves as an alternative to the standard court process. Instead of having a judge and jury make a decision, parties involved in an arbitration agree to have their dispute settled by an impartial panel of one or three arbitrators. Nearly all disputes between investors, brokers, and brokerage firms are…

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Laurence Landsman Successfully Fights Wrongful Termination for Former Fidelity Advisor

By Firm News

As reported by ThinkAdvisor and FA Mag:   A Finra arbitration panel has ordered Fidelity Brokerage Services to pay a former broker $500,000 for claims of wrongful termination and defamation. The panel, consisting of two out of three members, awarded Ryan Sanghak Lee $499,999.99 in compensatory damages.  In Mr. Lee’s original claim filed in October 2019 and amended in September…

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Attorney Larry Landsman Scores $500k Win For His Client

By Blog, Firm News
As reported by AdvisorHub: "A former Fidelity Investments broker’s industry employment prospects improved significantly, after he won last month $500,000 in damages from his ex-employer, his lawyer said. A December 27-inked ruling by a split panel of three Financial Industry Regulatory Authority arbitrators calls for Fidelity to revise the termination form it filed with regulators when, in 2018, the broker,...
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FINRA Rule 3010, Failure to Supervise, and Investor Losses

By Blog

What is Failure to Supervise? The duty to properly monitor and supervise employees is a responsibility that any brokerage firm must assume. The North American Financial Regulatory Association (FINRA) Rule 3010 requires brokers, dealers, and other intermediaries such as investment counselors or money managers to have an obligation toward all customers they serve—that means investors placing funds in their trust…

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What FINRA says about Suitability for client investments (FINRA Rule 2111)

By Blog

The Financial Industry Regulatory Authority (FINRA) has established rules and regulations regarding the sale of securities. All sales recommendations must meet the ethical standards of the industry as set forth by FINRA. Brokerage firms are required to supervise the suitability of their broker’s investment recommendations. The Suitability Rule requires brokers to make recommendations that are suitable for their clients, based…

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Worried you were forced out? Here’s some key signs to consider as a financial advisor

By Blog
Some jobs have an inherently bigger set of pressure than others. Working as a financial advisor or in the securities and finance industry comes with some of these harder-to-manage pressures. There’s a lot to manage like your career, investor’s capital, and office politics. Sometimes, even when you’re able to hold everything together, it seems like the cards are stacked against...
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