Recent Financial Industry Regulatory Authority (FINRA) securities arbitration resulted in the order for units of Merrill Lynch to pay compensatory damages to Staton Family Investments Inc. totaling $8.1 million for breach of fiduciary duty. Staton Family Investments and Daniel Staton accused Merrill Lynch of securities fraud, negligence, breach of contract…
Merrill Lynch & Co. must pay an investor $39.8 million in compensatory damages because of negligence on the part of one a subsidiary broker-dealer, an Albany, New York FINRA arbitration panel has ruled. The FINRA panel issued the award to Trustees of the Masonic Hall & Asylum Fund, which is…
Beginning March 30, 2009 investors claiming losses of up to $100,000 will have the option of proceeding before a single arbitrator rather than a panel of three arbitrators. The SEC has approved the final rule change (see full Notice, accessible immediately below). While any final conclusion concerning whether the rule…