The proposal expands the “non-public” arbitrator definition by: (1) requiring individuals who worked in the financial services industry for any duration to always be classified as non-public arbitrators; (2) adding new categories of financial industry personnel who...
Representing financial professionals, financial institutions and investors in investment loss, employment and disclosure matters, and in regulatory investigations nationwide.
Month: August 2014
Second Circuit Clarifies Definition of “Customer” Under FINRA Rules
Last week, the Second Circuit issued an important opinion clarifying who may be considered a “customer” of a FINRA member firm. In Citigroup Global Markets Inc. v. Abbar et al. (No. 13-2172) (2d Cir. Aug. 1., 2014), the Second Circuit held that a customer, under the...
