Month: October 2013

Broker-Dealer Liability for Unlicensed Registered Investment Advisors

The past decade has seen an explosion of the number of Registered Representatives (stockbrokers) employed by brokerage firms opting to leave their employment status in the brokerage industry to become Registered Investment Advisors registered with the Securities and Exchange Commission.  While many Registered Investment Advisors choose to let their securities industry licensure (FINRA/CRD) lapse, many […]

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Man Bites Dog

Compensatory Damages of $637,069.00 Assessed Against Morgan Stanley in Favor of Terminated Broker on Counterclaims in Retention Bonus Promissory Note Case   An arbitration panel of the Financial Industry Regulatory Authority (FINRA) has awarded terminated and former Morgan Stanley broker, David Ayres, compensatory damages of $637,069.00 on his counterclaims in a retention bonus promissory note […]

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