It was recently reported that three brokerage executives who worked at a now-defunct independent broker-dealer were ordered by a FINRA arbitration panel to pay $1.05 million, plus interest, to a family that invested in high risk private placements that turned out to be Ponzi schemes. A copy of the FINRA Award can be read here….

The Financial Industry Regulatory Authority (FINRA) recently announced in Regulatory Notice 14-31 that the Securities and Exchange Commission (SEC) has approved a new rule prohibiting firms and registered representatives from conditioning settlement of a customer dispute on, or otherwise compensating a customer for, the customer’s agreement to consent to, or not to oppose, the firm’s…