Claims of FINRA-member firms against their former Registered Representatives now comprise approximately
40% of all claims filed with the FINRA Office of Dispute Resolution. This explosion of claims is related
in large part to the initiatives of large brokerage firms, which, contemporaneous with the financial crisis of 2008-2009,
used Troubled Asset Assistance Program (TARP) funds to retain brokers through retention bonuses and
promissory notes in order to prevent further erosion of revenues caused by the crisis. The attached
article explores why brokers should consider fighting promissory note cases brought against them by
their former firms in FINRA arbitration proceedings.
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We offer a free initial consultation to Registered Representatives and FINRA licensed professionals
who have had recruitment bonus and forgivable loan cases filed against them. For a free initial
consultation contact the Law Offices of Timothy J. O’Connor at (518) 426-7700.
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