FINRA allows multiple claimants to join in one action “if they assert any right to relief jointly, severally, or arising out of the same transaction, occurrence, or series of transactions or occurrences and if any questions of law or fact common to all these claimants will arise in the action.”…
When a brokerage firm customer gives a trading authorization to a spouse, another family member, or another trusted person, the firm will typically require that the authorized person sign an indemnification agreement. The firm may seek to enforce the agreement in a counter-claims or third-party claim in the event the firm is sued by the…
“The majority position in U.S. courts is that statutes of limitation do not apply in arbitration.” Arbitration and the Rule of Law; Lessons from Limitations Periods, 27 Am. Rev. Int’l Arb. 373 (2016) (emphasis added). “[T]hese courts concluded that arbitration is an informal dispute resolution process that is fundamentally different from litigation, and…
Financial advisor John Denes of Brokerbank Securities, Inc. (CRD#: 130116) in Minnetonka, Minnesota is the subject of regulatory action by Michigan securities regulators. According to FINRA’s Brokercheck website, Michigan regulators allege that Denes and REO Capital, LLC have held themselves out as registered persons and accepted funds from Michigan investors…