In May, Marilyn Hazell won a $400,000 Finra arbitration claim against Peak Securities Corp., claiming breach of contract, breach of fiduciary duty, negligence and fraud stemming from the purchase of notes offered by Medical Provider Funding Corp. VI.

Those notes are at the center of a Securities and Exchange Commission fraud complaint issued last summer. The SEC charged Medical Capital Holdings Inc., the parent company of the issuer, with fraud in the sale of $77 million in notes. Dozens of independent broker-dealers sold the notes.

A scan of the Finra database of a...

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 Judges, and not arbitrators, should decide questions relating to the enforceability of a class action waiver in an arbitration clause because such questions present issues of "arbitrability" that are properly decided by courts, an en banc panel of the 3rd U.S. Circuit Court of Appeals has ruled.

"An unconscionability challenge to the provisions of an arbitration agreement is a question of arbitrability that is presumptively for the court, not the arbitrator<...

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Washington, DC — The Financial Industry Regulatory Authority (FINRA) announced today that it has fined five broker-dealers a total of $385,000 for the illegal sale of more than 8 billion shares of penny stock on behalf of their customers. Most of thos...

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John Edward Mullins allegedly began to misuse the funds of his client, Esther Weil, after she became ill in April 2006 and needed 24-hour nursing care, Finra said in a statement.

Within three months of her becoming ill, Mr. Mullins misappropriated $4,000 to pay for a vacation at the Four Seasons in London, $5,500 toward his persona...

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