Today, the Financial Services Institute’s (FSI) Senior Vice President of Policy & Deputy General Counsel, Robin Traxler, will speak to the Securities & Exchange Commission’s (SEC) Investor Advisory Committee regarding unpaid arbitration awards.
During her statement, Traxler calls for financial advisors and firms who fail to pay their arbitration fines to be banned from working in the financial services industry in any capacity. Traxler stated that any solution to the issue of unpaid arbitration awards should not unfairly impact honest actors in the industry. Instead, the consequences of not paying an award should preclude the bad actor from continuing to work with investors in any capacity, creating an important deterrent to bad behavior.
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