FINRA Arbitration Award for Securities Broker Client

Mr. Buus's client, a securities broker, claimed that another securities broker wrongfully retained all commissions earned in a securities transaction, even though such commissions ought to have been split evenly between them.  That client instituted a FINRA arbitration proceeding against the other broker, asserting a claim for breach of implied contract to split the commissions.  After a contested arbitration hearing, the arbitrator awarded the client her full share of the commissions, plus pre-judgment interest and costs of the arbitration.  "This wasn't just a correct legal result," Mr. Buus said, "it was a fair and just result as well."