Feb. 24, 2022 — Maurice Wutscher attorney Brady Hermann was quoted in a recent AdvisorHub article about two brokers’ attempt to vacate a Financial Industry Regulatory Authority award denying their request to expunge termination language their former employer included on their Form U5.
The brokers argued the award, issued in November 2021 by a FINRA panel, should be vacated as the arbitrator who chaired the panel failed to disclose his prior work for their former employer.
Mr. Hermann said an arbitrator’s failure to disclose his contract work for the company over a decade ago was unlikely to be considered a substantial relationship with a party and, therefore, they were unlikely to succeed on vacating the award.
Brady Hermann is senior counsel in the Boston and New York offices of Maurice Wutscher LLP. He regularly represents financial services companies including banks, broker-dealers, financial advisors, financial asset buyers and third party debt collectors in individual, class action and regulatory matters. He has successfully represented clients throughout the country against claims for violations of securities laws, the Fair Debt Collection Practices Act, the Telephone Consumer Protection Act, the Fair Credit Reporting Act, and various state consumer protection statutes.