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Securities broker-dealer defends unsuitability claims in FINRA arbitration matters

June 2023

Client(s) Large securities broker-dealer

Jones Day is defending a large securities broker-dealer in several FINRA arbitrations related to claims of unsuitable investment recommendations. The disputes are based on allegations that our client recommended investments that did not meet the claimants' investment profile and overconcentrated claimants' assets in a single investment vehicle. The claims asserted by claimants include negligence, fraud, breach of fiduciary duty, violations under state securities and consumer protection laws, and violations of the FINRA rules governing the suitability of investments.

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