On April 14, 2021, the U.S. Court of Appeals for the Ninth Circuit reversed the decision of the U.S. District Court for the Northern District of California finding that a FINRA registered investment banker’s statutory employment discrimination and civil rights claims were not subject to arbitration. In reversing, the Ninth Circuit held that the express
On April 16, 2021, a bill was introduced in the Senate and House that would restrict securities industry broker-dealers and other FINRA registered firms from imposing mandatory arbitration for customer disputes or contractually limiting a customer’s ability to bring suit on a class or consolidated basis.
Named the “Investor Choice Act” (the “Bill”), the Bill
Last March we reported that, in response to the COVID-19 pandemic, the Financial Industry Regulatory Authority Inc. (FINRA) administratively postponed in-person arbitration and mediation proceedings, and held such proceedings remotely via telephone or Zoom.
However, given recent developments in the country’s reopening from the pandemic, FINRA announced that it will re-open 62 of its
In Jefferies LLC v Gegenheimer, the Second Circuit reminded prospective FINRA arbitration litigants of the high burden in court to vacate an unsatisfactory arbitration award issued by a panel of arbitrators.
In this matter, the petitioner was a FINRA-member investment bank and respondent was an individually licensed investment banker. The dispute arose out of
Today, the Supreme Court issued its opinion in TransUnion LLC v. Ramirez, holding that a concrete injury requires more than the existence of a risk of harm that never materializes. Accordingly, the vast majority of the absent class members who could not prove that allegedly inaccurate credit reports were disseminated to any third party
New York City’s Biometric Identifier Information Law goes into effect July 9. The law applies to food and drink establishments, places of entertainment, and retail stores in New York City that collect, retain, convert, store, or share biometric identifier information (e.g., retina or iris scans, fingerprints, voiceprints, and hand scans) from customers. According
Wednesday, July 21 • 11:00 a.m. – 4:00 p.m. ET
CCN and Troutman Pepper have created a webinar to help you navigate Regulation F.
This webinar will be a comprehensive look at Regulation F and how to prepare your business. The webinar will be held on July 21 from 11 a.m. – 4 p.m. (eastern
In Mikhael v. Credit Corp Solutions, Inc., the Eastern District of New York held that a letter alluding to the possibility of referring an account to an attorney for review does not constitute a threat to take imminent action that “cannot legally be taken or that was not intended to be taken” under the
If you use the internet, you have probably encountered at least one of the scams con artists use to bilk victims. There’s “catfishing” and other online dating fraud, where scammers use fake identities to woo victims into sending money. There’s also “grandparent scams,” where typically elderly victims are tricked by those posing as his or
Joining the growing ranks of numerous district court opinions analyzing the effect of the Supreme Court’s 2020 severance of the Telephone Consumer Protection Act’s (TCPA) government-debt exception, a district court in Colorado has reasoned that the severance operates retroactively, while also recognizing the severe constitutional problems raised by that conclusion. The result is a holding