FINRA considers creation of fund for unpaid arbitration awards July 19, 2016

This news story from On Wall Street details FINRA’s consideration of McCarthy Lebit Investor Claims attorney Hugh D. Berkson’s argument for a fund for unpaid arbitration awards. This fund would be made up of a pool of dues paid annually by FINRA members in order to cover the award winners who cannot collect compensation from the firms and brokers who wronged them due to issues such as a declaration of bankruptcy by the brokerage.

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