Recovery for losses in RMK Bond Fund (FINRA, 2009) Brian Smiley, Mike Bishop, and our co-counsel obtained an award of full compensatory damages, attorneys’ fees, plus costs for two clients. The claim related to Regions Morgan Keegan’s Select Intermediate Bond Fund. In defending the case, Morgan Keegan used two expert witnesses, including a former chair of […]
Soden v. Scottrade, Inc. v. Soden
Successful defense of third-party claim brought by brokerage firm (FINRA, 2008) This was an unusual case in which we represented a widow who was sued by a brokerage firm on a third party claim for indemnification. After a hotly contested hearing that spilled over into court proceedings, the arbitrators entered an award in favor of […]
Brian Smiley Quoted in “On Wall Street”
Brian Smiley was quoted in On Wall Street concerning a new FINRA rule that allows parties to have investor cases decided by panels that do not include an arbitrator affiliated with the securities industry. The SEC’s approval of the new process was great news to Brian Smiley, a partner at Smiley Bishop & Porter LLP, […]
SEC Approves FINRA All-Public Panel Option
Brian Smiley quoted in On Wall Street about new FINRA arbitration rule. The move may be hailed by investor groups, but other industry experts are criticizing the Securities and Exchange Commission’s recent approval of a rule change that allows for the option of all-public panels in FINRA arbitrations.
Brian Smiley Recognized by Georgia Super Lawyers Magazine
Brian Smiley has been named by Georgia Super Lawyers magazine as one of the top attorneys in Georgia for 2011. Only 5% of the lawyers in the state are named by Super Lawyers. The selections for this esteemed list are made by the research team at Super Lawyers, which is a service of the Thomson Reuters […]
John C. Porter, Jr. Recognized by Georgia Super Lawyers Magazine
John C. Porter, Jr. has been named by Georgia Super Lawyers magazine as one of the top attorneys in Georgia for 2011. Only 5% of the lawyers in the state are named by Super Lawyers. The selections for this esteemed list are made by the research team at Super Lawyers, which is a service of […]
Stockbroker-Customer Disputes: Making a Case for Arbitration
By Brian N. Smiley As the bulls run wild on Wall Street, there is increasing evidence that the nation’s securities markets have also provided a home for vipers. Names of prominent executives and major brokerage houses have appeared under headlines announcing investigations, indictments and plea bargains for insider trading, market manipulation. Conspiracy, and other conduct […]
FINRA Blames Morgan Keegan, Not Brokers, For Hiding Risk
Dow Jones quotes Brian Smiley on securities regulators’ charges against Morgan Keegan. Securities regulators’ actions against Morgan Keegan & Co. put its brokers in the same basic category as investors: duped.
Arbitrator Out of Work? Call FINRA
Wall Street Journal cites Brian Smiley on FINRA’s efforts to recruit arbitrators to handle Morgan Keegan claims. Wall Street needs an army of arbitrators to clean up the mess left by the headline-grabbing collapse of three mutual funds stuffed with collateralized debt obligations and other subprime-related securities.
More Firms Join Arbitration Experiment
PIABA President Brian Smiley provides comments on the proposed rule change for securities industry arbitrators. With the downturn taking its toll on investors’ portfolios, the Financial Industry Regulatory Authority (FINRA) is seeing a substantial increase in the number of complaints filed against brokers and advisers. But even as these firms are getting hit hard with arbitration, three […]