Leggett v. Wells Fargo Clearing Services, LLC, FINRA ID #17-01077 (Atlanta, GA, 8/1/19) is unusual because it not only includes explanations for two expungements,
Explained Awards — those that contain the Arbitrator’s reasons for granting or denying the relief requested — are available to parties under FINRA Rules 12904(g) and 13904(g),
For this case to unravel the way it did required that the Claimants pursue both the brokers and the firm as Respondents. That’s not terribly common in FINRA arbitration,
The House Judiciary Committee’s Subcommittee on Antitrust, Commercial, and Administrative Law held a May 16 hearing titled “Justice Denied: Forced Arbitration and the Erosion of our Legal System.” The Senate Judiciary Committee held a similar hearing in April.
FINRA’s Board of Governors met on May 6-7 to consider an array of financial, regulatory and enforcement reports and issues. Prior to this regular meeting of the Board,