Jul 5, 2022

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

Jun 17, 2022

Federal Court Denies Motion for TRO Sought Against Firm’s Client In Case Handled By WSSLLP Philadelphia Office

The firm’s client is an investment advisor representative who resigned from his prior investment advisory firm in May of 2022.  Almost one month after his resignation his prior firm filed pleadings in federal court in Maryland seeking a temporary restraining order, a preliminary injunction, and monetary damages.  It claimed that he misappropriated its trade secrets […] More

Jun 14, 2022

Denis C. Dice to Participate in IBDC-RIAC Webinar

Denis Dice will be speaking on a webinar entitled “RIA Claims and New Regulations.”  Denis will be joined by fellow IBDC-RIAC Alliance Members, Kevin Miller, General Counsel for Carson Group and Douglas A. Wright, CRCP, Chief Compliance Officer for the The Investment Center, Inc. as they take you through the new regulations that are impacting RIAs […] More

Jun 13, 2022

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

Jun 6, 2022

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

FINRA Arbitration Panel Denies Claimants’ ARC REIT Claims as Clearly Erroneous in Matter Handled by WSSLLP’s Philadelphia Office
May 25, 2022

FINRA Arbitration Panel Denies Claimants’ ARC REIT Claims as Clearly Erroneous in Matter Handled by WSSLLP’s Philadelphia Office

The firm’s client is a registered representative of a national broker-dealer which was a Respondent in a FINRA arbitration. Claimants’ alleged causes of action included suitability, failure to disclose risks, and lack of diligence relating to the recommendation of various ARC REITs. The arbitration claims were settled and our client requested expungement of the customer […] More