3/5/19
By: Peter Catalanotti
In representing real estate brokers through their Errors & Omissions insurance for over a decade, I often get asked what types of claims are trending. What follows is my experience regarding real estate broker claim trends.
Real …
FINRA Increases Penalties For Brokers’ Bad Behavior
5/8/18
By: Ted Peters
In further response to mounting pressure for securities regulators to exert greater control over problem brokers, the Financial Industry Regulatory Authority (“FINRA”) released Regulatory Notice 18-17 on May 2, 2018. FINRA has long maintained a “rulebook” of …
DOJ Fails to Challenge 5th Circuit Ruling Striking Fiduciary Rule
5/3/18
By: Theodore C. Peters
On March 15, 2018, the Fifth Circuit Court of Appeal stuck down the “fiduciary rule” proposed by the Department of Labor (DOL), which required brokers to act in the best interests of their clients in retirement …
FINRA to Pick Up the Check on Unpaid Arbitration Awards?
3/8/18
By: Theodore C. Peters
As recently reported, unpaid FINRA arbitration awards is a growing problem. As FINRA has acknowledged, roughly one quarter of FINRA arbitration awards issued in 2016 went unpaid. If lawmakers have their way, FINRA itself …
Unpaid FINRA Awards May Result in Tighter Membership Rules Governing Brokers and Member Firms
2/16/18
By: Theodore C. Peters
On February 8, the Financial Industry Regulatory Authority (“FINRA”) released a discussion paper: FINRA Perspectives on Customer Recovery, which openly addressed the reality that roughly one quarter of FINRA arbitration awards issued in 2016 were …