Richard Ketchum, Chairman and Chief Executive of FINRA, testified before the House Financial Services Committee today in support of allowing the SEC to ban mandatory arbitration clauses in securities contracts. It is common practice for broker dealers to stipulate a mandatory dispute resolution forum in the event of a broker/client dispute.
Posts Tagged ‘Dispute Resolution Forum’
FINRA Supports Mandatory Arbitration Clause Removal
October 6th, 2009 
Before You Invest 
Posted in Finance Fraud 
Tags: Account Applications, Arbitration Clause, Broker Dealers, Brokerage Account, Capital Markets Subcommittee, Chairman Paul, Chief Executive, Contentious Subject, Cost Effectiveness, Dispute Resolution Forum, Fairness, Financial Services Committee, Finra, House Financial Services Committee, Ketchum, Mandatory Arbitration Clauses, Outright Ban, Paul Kanjorski, Securities Industry, Subcommittee Chairman 
No Comments »FINRA Details Special Procedure for Auction Rate Consequential Damage Cases
December 19th, 2008 Before You Invest The Financial Industry Regulatory Authority (FINRA) today announced details of a special arbitration procedure for investors seeking recovery of consequential damages related to their investments in Auction Rate Securities (ARS). Customers entitled to file for consequential damages under ARS-related settlements that firms have concluded with FINRA or the Securities and Exchange Commission (SEC) may use this special procedure.
Posted in Finance Fraud Tags: Arbitration Procedure, Arbitration Rules, Auction Rate, Citigroup, Citigroup Global Markets, Consequential Damage, Consequential Damages, Dispute Resolution Forum, Fienberg, Financial Harm, Financial Industry Regulatory Authority, Finra, Illiquidity, Opportunity Costs, Option Investors, Securities And Exchange Commission, Sole Option, Ubs Financial Services, Ubs Securities, Wamu Comments Off
