Federal Appellate Court Affirms Dismissal of Wells Fargo and FINRA (BrokeAndBroker.com Blog)
Bill Singer
![Bill Singer]()
Bill Singer
A critic of the inept and incompetent, and an advocate for economic and political sanity. It's a lonely journey but I walk it. Wall Street legal, regulatory, and compliance veteran since 1982.
https://www.brokeandbroker.com/6855/4cir-wells-fargo-finra/
A public customer filed a FINRA Arbitration Statement of Claim against Wells Fargo Advisors and asked for no less than $100,000 in damages. The arbitrators found in the customer's favor and awarded about $99,000 in damages and fees. For whatever reasons, the customer appealed the FINRA Award to federal District Court, which looked somewhat askance at a quintessential shotgun pleading and a myriad of motions. On appeal, a Circuit Court affirms the District's dismissal.