Sep 19, 2023

WSS New York Office Obtains a Directed Verdict and Attorneys’ Fees in FINRA Arbitration

Christina M. Rieker, Esq. of Winget, Spadafora & Schwartzberg, LLP’s New York office received a directed verdict in favor of the firm’s brokerage firm client related to claims of misrepresentation and omission of accurate pricing of securities on the brokerage firm’s online platform. The customer in the proceeding alleged that the brokerage firm intentionally and/or negligently […] More

Sep 5, 2023

Massachusetts Supreme Judicial Court Expands Duty of Broker-Dealer Firms Beyond Regulation BI to Now Include Fiduciary Standard

On an appeal from a Massachusetts Securities Division (“MSD”) administrative action, the Massachusetts Supreme Judicial Court (“SJC”) held on August 25, 2023 that online brokerage firm Robinhood Financial LLC violated the Massachusetts Uniform Securities Act by engaging in “unethical or dishonest conduct.”  MSD defines this phrase to require broker-dealers that provide investment advice to retail […] More

May 16, 2023

WSS Philadelphia Office Obtains Withdrawal Of All Claims With Prejudice In FINRA Arbitration

Our client is a national broker-dealer which was originally named as a defendant in an action filed in Pennsylvania state court. This difficult claim arose from an unfortunate but all too common series of tragic events.  Plaintiff claimed he suffered from cognitive impairment and was duped by fraudsters who convinced him he won an overseas […] More

Apr 18, 2023

SEC Approves Changes to FINRA Expungement Rules

By Michael Schwartzberg, Jessica E. Levine

On April 12, 2023, the Securities and Exchange Commission approved changes to FINRA’s expungement rules that will make the process more challenging for Associated Persons to seek expungement.  Although the Commission approved these changes, FINRA has not yet announced when the new expungement rules will go into effect. Currently, FINRA Rule 2080 governs FINRA’s expungement […] More

Apr 13, 2023

WSS’s Philadelphia Office Prevails on Motion for Judgment on the Pleadings on behalf of Insurance Broker in Westmoreland County Court of Common Pleas

Winget, Spadafora & Schwartzberg LLP’s Philadelphia, Pennsylvania office successfully secured a judgment on the pleadings in the Westmoreland County Court of Common Pleas.  The Order successfully resolved all claims brought against WSS’s client relating to the alleged theft by one of its employees. The complaint alleged that an employee of WSS’s client, an insurance broker, […] More

Apr 12, 2023

WSS Florida Team Prevail in FINRA Arbitration Regarding ARC Hospitality

Benjamin J. Biard, Esq. and Zachary S. Knoblock, Esq. of Winget, Spadafora & Schwartzberg, LLP’s Florida office received a full defense award in favor of the firm’s brokerage firm client related to ARC Hospitality Investors Trust (HIT). The customer in the proceeding alleged that the brokerage firm failed to conduct a proper due diligence review of […] More