FSC Securities was ordered to pay an investor $60,000. In February, 2016, a three member FINRA arbitration panel sitting in Pittsburgh, PA issued a $60,000 binding arbitration award against brokerage house FSC Securities. The underlying matter involved allegations that FSC Securities mismanaged a customer account, breached fiduciary duties and failed…
Raymond James owes investor $600,000 says FINRA panel. In February, 2016, a three member FINRA arbitration panel sitting in Albany, NY issued a $600,000 binding arbitration award against brokerage house Raymond James and Associates. The underlying matter involved allegations that Raymond James and Associates mismanaged a customer account, breached their…
Ami Forte and Morgan Stanley ordered to pay investor $33,000,000. In March, 2016, a three member FINRA arbitration panel sitting in Tampa Florida issued a staggering $33,000,000 binding arbitration award against Ami Forte and her firm Morgan Stanley. The underlying matter involved allegations that Ami Forte and Morgan Stanley mismanaged…
Meyers Associates loses arbitration case. In June, 2016, a FINRA arbitration panel issued a $19,000 binding arbitration award against Meyers Associates and registered rep Colin Archer. The underlying matter involved allegations that Meyers Associates and Colin Archer breached their fiduciary duty, were negligent, engaged in unsuitable trading and churning, and…
National Securities Corp. ordered to pay investor over $500,000. In July, 2016, a three member FINRA arbitration panel sitting in Houston, TX issued a $500,000 binding arbitration award against National Securities Corp and registered rep John Labarca.. The underlying matter involved allegations that National Securities Corp and John Labarca breached…
Stern Fisher Edwards was ordered to pay an investor $300,000. In June, 2016, a three member FINRA arbitration panel sitting in Los Angeles, CA issued a $300,000 binding arbitration award against Stern Fisher Edwards and Charles Bohlen.. The underlying matter involved allegations that Stern Fisher Edwards and Charles Bohlen breached…
Morhan Stanley was ordered to pay an investor $8.5 Million. In June, 2016, a three member FINRA arbitration panel sitting in Los Angeles, CA issued a $8,500,000 binding arbitration award against Morgan Stanley and Peter Doyle and Wendy Feldman for the sale of unsuitable investments. The underlying matter involved allegations…
Centaurus Financial was ordered to pay $150,000 to an investor. In June, 2016, a three member FINRA arbitration panel sitting in Albuquerque, NM issued a $150,000 binding arbitration award against Centaurus Financial for the sale of illiquid, unsuitable investments. The underlying matter involved the sale of non-traded REITs, including Inland…
Royal Alliance ordered to pay investor $870,000. In January, 2015, a three member FINRA arbitration panel sitting in Los Angeles, CA issued an $870,000 binding arbitration award against Royal Alliance Associates for the sale of a variable universal life policy. The underlying matter involved the surrender of a Provident Mutual…
Cornerstone Wealth Management hit with FINRA award. In June, 2015, a three member FINRA arbitration panel sitting in San Diego, CA issued a $176,500 binding arbitration award against Cornerstone Wealth Management and Chris Meacham, which included $90,000 in punitive damages. The underlying matter involved an investment in Scripps Investment Mortgage…