Securities Arbitration Is Flawed, Investor Group Claims

Investors who bring disputes involving suspected broker misconduct, unsuitable investment advice and other complaints to arbitration may not be getting a fair resolution because the pool of arbitrators lacks diversity, according to a report released Tuesday by a group that represents claimants. Most of the arbitrators who serve the Financial Industry Regulatory Authority (FINRA), the self-regulator for the brokerage industry, are men who have a “socioeconomic status that put them out of touch with the average investor,” said the report …

Legal Help Available for Older Cook County Residents

Hi there, blog readers! This is Gerardo Cardenas with the AARP Illinois Communications Team. We are certainly grateful for our nation’s laws, but our legal system can often be challenging and confusing, especially for older adults, making them vulnerable to the growing problem of financial and legal abuse and exploitation. Fortunately in Cook County, Ill., the hard work and vision of a judge, a former state government official and a group of volunteers is helping thousands of elderly citizens navigate …

Are Age Bias Suits Really Down?

The New York Times reported last week that the Supreme Court’s 2009 ruling in Gross v. FBL Financial Services has changed the legal landscape for age discrimination cases. The problem? Even though many older workers who lose their jobs think that age discrimination played a role in their terminations, the burden of proof required is now so high that lawyers just don’t see the cases as winners. Given that the Times didn’t back up its assertion that “most lawyers won’t even take …