FINRA Still Struggling to Diversify Arbitrator Pool

The Financial Industry Regulatory Authority told Bloomberg BNA that it has dramatically expanded resources to tackle recruitment and diversity concerns, while admitting there’s more work to be done in what’s likely to be a “long slow process with incremental progress.” That’s not fast enough for attorneys who represent investors, such as Jacob H. Zamansky of …

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Zamansky LLC Files FINRA Arbitration For An Investor With Accounts Managed by Wayne Geffen, First Serve Capital and Concept Capital Markets LLC

We filed a  FINRA arbitration on behalf of a 51 year-old New York investor who is a former customer of Wayne Geffen of Concept Capital Markets LLC.   The Statement of Claim alleges that Geffen invest him in excessively risky and unsuitable portfolio of oil, gas and energy stocks including a large position of Energy XXI.   …

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Jacob Zamansky Quoted by Wall Street Journal

Proposed Rule Would Allow Consumers to Sue Banks, Credit-Card Companies – Current mandatory arbitration clauses in contracts force customers into private negotiations to solve disputes, Wall Street Journal, by Yuka Hayashi and Christina Rexrode. The Consumer Financial Protection Bureau proposed a rule on Thursday restricting the use of mandatory arbitration clauses in consumer financial contracts.  …

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