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BrokeAndBroker.com Blog by Bill Singer Esq WEEK IN REVIEW

May 29, 2021

http://www.brokeandbroker.com/5871/finra-respectful/
Every so often, I come across something that elicits a "what the hell?" Today's BrokeAndBroker.com Blog features just such an item in the form of two associated persons suing their former employer, RBC Capital Markets, LLC, and another RBC employee. Somehow it all comes down to a lack of respect, or not.

http://www.brokeandbroker.com/5868/finra-expungement/
Some things are debatable. For example, when public customers complain about misconduct by their stockbroker, there may be some points raised in the Complaint or Answer that may, or may not, be true. That's where the adversarial system comes into play and we rely upon a panel of arbitrators to sift through the evidence. On the other hand, some things aren't debatable -- the facts speak for themselves and dispel any notion of uncertainty. In a recent FINRA arbitration, it seems that the stockbroker had done no wrong. Worse, he blew the whistle on the bad guy. Why then did that whistleblower need to bear the burden of filing for an expungement? Why didn't FINRA step in and do the right thing, at its own cost?

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