An irreverent Wall Street Blog
BrokeAndBroker.com Blog by Bill Singer Esq WEEK IN REVIEW
February 24, 2018
Scottrade Customer Margin Case Tossed During Discovery (BrokeAndBroker.com Blog) http://www.brokeandbroker.com/3837/finra-scottrade-discovery/
In today's BrokeAndBroker.com Blog, we come upon yet another FINRA arbitration involving a public customer who represented himself. The case involves what appears to be the familiar flashpoint of a customer's purported attempt to timely satisfy a margin call before a sell-out By the time the customer enters into the Discovery phase of his lawsuit against FINRA member firm Scottrade, you get the sense that he is a seething cauldron of rage. Enraged pro se litigants don't tend to do well. This case proved to be no exception.
In today's BrokeAndBroker.com Blog, we come upon yet another FINRA arbitration involving a public customer who represented himself. The case involves what appears to be the familiar flashpoint of a customer's purported attempt to timely satisfy a margin call before a sell-out By the time the customer enters into the Discovery phase of his lawsuit against FINRA member firm Scottrade, you get the sense that he is a seething cauldron of rage. Enraged pro se litigants don't tend to do well. This case proved to be no exception.
Daspin Death Star Battles SEC and a Lone ALJ Jedi Knight (BrokeAndBroker.com Blog) http://www.brokeandbroker.com/3836/daspin-grimes/
Let it be known to all who here read these words that Jedi Knight Bill Singer took a knee in the galactic fight and surrendered. In doing so, Jedi Singer offers a nod of admiration to ALJ Grimes who, despite all reason, battles on as the Force awakens . . . or reawakens . . . or rises from a slumber to take a leak or whatever. I mean, just to be clear, I'm fed up with this whole Daspin saga and pretty much gave up following it in December 2015, which is over two years in Earth time or whatever it is in Star Wars time. Truly, my heart goes out to ALJ Grimes and if it's okay with the SEC, like, you know, I'd like to buy Grimes a few rounds of drinks and have a loooooong off-the-record conversation with him.
Customer Appeals Wells Fargo Arbitration Loss To Federal Court (BrokeAndBroker.com Blog) http://www.brokeandbroker.com/3834/FINRA-Arbitration-2Cir/
When it comes to issuing arbitration decisions, the Financial Industry Regulatory Authority plays hide and seek. In today's featured FINRA public customer arbitration, there is not so much as one word of explanation about who the Claimant is, the capacity in which she sued Wells Fargo Advisors, or the underlying facts in dispute. The FINRA Arbitration Decision gives us the parties' names, provides the legalese names of the claims, and lets us know how many dollars in damages were sought but that's it. Who allegedly did what to whom? What transaction(s) were in dispute? When and where did various acts occur? Well . . . FINRA ain't tellin'. You think that BrokeAndBroker.com Blog's publisher Bill Singer is making all that up? Take Bill's challenge and read the FINRA Arbitration Decision for yourself -- and then call him and apologize for doubting his word.
Pro Se Former Nationwide Employee Wins $1 And CRD Expungement (BrokeAndBroker.com Blog) http://www.brokeandbroker.com/3831/finra-arbitration-nationwide/
As readers of the BrokeAndBroker.com Blog know, pro se litigants don't always obtain a great outcome. In some cases, the financial award rendered in favor of or against a self-represented party justified the decision to no incur legal fees. In other cases, self-represented parties could not afford to hire a lawyer and suffered for the lack of counsel. In a recent FINRA intra-industry arbitration, a former associated person sued his former employer firm in an effort to obtain the expungement of disputed language from his Form U5/CRD records. There is no question that this pro se Claimant walked away a winner. There is a question as to whether he should have sued for more.
As readers of the BrokeAndBroker.com Blog know, pro se litigants don't always obtain a great outcome. In some cases, the financial award rendered in favor of or against a self-represented party justified the decision to no incur legal fees. In other cases, self-represented parties could not afford to hire a lawyer and suffered for the lack of counsel. In a recent FINRA intra-industry arbitration, a former associated person sued his former employer firm in an effort to obtain the expungement of disputed language from his Form U5/CRD records. There is no question that this pro se Claimant walked away a winner. There is a question as to whether he should have sued for more.