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 an article in this publication.[6] If nothing else, the report enabled PIABA to steer the...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!