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Michael Schwartzberg to Speak on a Panel at the Financial Services Institute’s OneVoice Conference
On Tuesday, January 24, 2023, Michael Schwartzberg will be speaking on a Panel at the Financial Services Institute’s OneVoice Conference regarding “The Evolving Regulatory Perspective and Its Impact on the Risk vs. Growth Balance.” Michael will be joined by Co-Panelists: Seth Miller, President, Advocacy and Administration at Cambridge Investment Research, Inc.; Mark Quinn, Director of […] More
FINRA Proposes Significant Amendments to Expungement Rules
On July 29, 2022, FINRA filed a proposed rule change with the SEC seeking to modify the expungement process to address certain concerns articulated by the Public Investor Advocacy Bar Association (“PIABA”) regarding the integrity of the process. The SEC is currently soliciting comments on the proposed rule change, and if the SEC approves the […] More
Georgia Court of Appeals Overturns Vacatur of FINRA Arbitration Award in Wells Fargo case
On August 2, 2022, the Georgia Court of Appeals reversed a Georgia lower court’s decision to vacate a Financial Industry Regulatory Authority (FINRA) arbitration award in a controversial investment dispute between Wells Fargo Clearing Services, LLC (“Wells Fargo”) and its clients (the “investors”). The Court of Appeals found that the Superior Court “provided no proper […] More
FINRA Publishes Independent Counsel’s Report Finding No Evidence of Improper Agreement to Remove Arbitrators from Cases
On June 29, 2022, FINRA published a report prepared by independent counsel which found no evidence of an improper agreement to remove certain arbitrators from arbitration cases. The report was prompted by a much-publicized Georgia Superior Court decision vacating an arbitration award in favor of respondent Wells Fargo Clearing Services, LLC, which found, among other things, […] More
Bipartisan Crypto Regulatory Overhaul Would Treat Most Digital Assets as Commodities Under CFTC Oversight
Under bipartisan legislation introduced last week, titled the Responsible Financial Innovation Act, certain digital assets would be classified as commodities and empower the Commodity Futures Trading Commission to regulate the industry. The bill’s sponsors characterize the legislation as a critical first attempt to structure the markets for digital assets with long-awaited legal definitions. The traditional Howey […] More
FINRA Issues Proposed Rule Change To End Mandatory Arbitration of Sexual Harassment Claims
The Financial Industry Regulatory Authority has filed rule changes that would end forced arbitration of sexual assault and sexual harassment complaints as of June 1. The FINRA rule changes were required by the Ending Forced Arbitration of Sexual Assault and Sexual Harassment Act, which was signed into law in March. It gives employees the right […] More
