Knowledge Center

Wednesday, March 09, 2016

HMB's Hal Wood and Richard Wolf Featured in the New York Times for Their FINRA Arbitration Victory

"The  Royal Bank of Scotland's United States securities division botched the firing of a former executive so badly that a Financial Industry Regulatory Authority arbitration panel ordered the bank to pay him $2.05 million in compensatory damages. The panel, in the decision last month, also ordered the bank to retract his termination and expunge his regulatory record of defamatory comments.

The Finra panel found after six days of witness statements and examining exhibits that Mr. Howard should not have been terminated for cause and that the Royal Bank of Scotland made fundamental errors and inconsistencies in how it interpreted and applied its internal policies, the facts it used to make the decision to fire him, and the rationale underpinning it.

The Finra panel concluded that he did not violate any specific or significant company human resource or other internal policy."

 

Read the full article HERE

 

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