A top discount brokerage, Interactive Brokers LLC, must pay $1.2 million to two Texas siblings who alleged the firm failed to stop “reckless trading” by their trust fund overseer, arbitrators ruled on Tuesday.
A former securities arbitration official's wrongful termination suit against the Financial Industry Regulatory Authority (FINRA) is set to head to trial, despite the Wall Street watchdog's effort to end the dispute, a U.S. judge has ruled.
A TD Ameritrade Holding Corp employee who said the firm retaliated against him for complaining about potential securities law violations must arbitrate the claim instead of suing in court, a federal appeals court ruled on Monday.
Citigroup Inc (C.N) is shutting down its alternative stock trading venue LavaFlow, the bank said on Tuesday, at a time when regulatory scrutiny has increased around broker-run trading platforms, forcing banks to rethink the costs.
