We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

PIABA Trolls The Fiduciary Duty Debate

Law360, New York (April 7, 2015, 10:51 AM EDT) -- On March 25, the Public Investors Arbitration Bar Association issued a self-described “review”[1] or “study”[2] (the report) finding that, in their advertising, brokerage firms have implied that they have a fiduciary duty but, in arbitrations, brokerage firms have taken an altogether different stance that they have no such duty. The report engages in a bizarre form of name-calling, accusing brokerage firms of “advertising like doctors, arbitrating like used car salesmen.”[3]

The report was promoted through a press release,[4] generated a news conference[5] and sparked articles, including...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.