Charles Schwab Corp. can ban its clients from bringing class action lawsuits, a securities industry regulatory panel ruled Thursday in a sweeping decision that is likely to influence other U.S. brokerage firms to follow Schwab’s policy. Schwab last year told …
U.S. securities arbitrators ordered Deutsche Bank Securities Inc. to pay a couple and their trusts a total of $934,000 after a onetime adviser allegedly swindled them in a multimillion-dollar insurance deal. The ex-adviser, Karl Hahn, is equally responsible for the …
A series of victories by Morgan Keegan & Co. is calling into question who can be considered a “customer” in securities arbitration cases. Most recently, a case involving a partner in the Lion Fund, a hedge fund, led to an …
Wall Street’s own watchdog filed a complaint against Charles Schwab Corp. on Wednesday accusing the online brokerage of requiring customers to waive their rights to pursue class actions against the firm, a violation of industry rules. The Financial Industry Regulatory …
The U.S. Supreme Court declined to hear an appeal of a ruling that the Financial Industry Regulatory Authority (FINRA) had immunity from a private lawsuit over the 2007 deal that created the Wall Street regulator. The justices on Tuesday let …
