Blog

On May 13, 2019, after a four-day hearing, an arbitration panel of the Financial Industry Regulatory Authority, Inc. (“FINRA”), sitting in Chicago, Illinois, held that a claimant broker who won a FINRA arbitration seeking expungement from the broker’s Form U-5 (Uniform Termination Notice for Securities Industry Registration) filed by the broker’s respondent ex-employer upon the broker’s termination, of specified employment-related information…Read More

A dispute that brokerage firms frequently arbitrate, before FINRA, against brokers concerns “transitional compensation” payments to brokers whom the firms have fired within a predetermined period of time. Such disputes are promissory notes, up-front bonuses, recruiting bonuses, forgivable loans, or forgivable employee loan (“EFL”) cases. It is difficult, but by no means impossible, for a broker whose brokerage firm has harmed…Read More

FINRA Declines To Fine, Suspend Or Expel Investment Banking Associate In Manhattan Who Repeatedly Doctored Expense Receipts Recently, I was approached by a former investment banking associate (“the former associate,” “the ex-associate,” “my former associate client, or “my ex-associate client”) who, over two years after she quit her employment with a brokerage firm in the borough of Manhattan and began…Read More

On November 16, 2018, Manhattan, NY Local Laws 185 and 186 of 2018 (“Local Laws 185 and 186” or the “new Laws”) became law. Effective March 18, 2019, the new Laws require employers in Manhattan, NYC with four or more employees (i) to provide, to their employees, a private room in which employees may express breast milk (a “lactation room”) and (ii) to develop,…Read More

Your company in Manhattan, NY, in paying wages to its employees, must comply with both New York State and federal wage-and-hour laws. Your business’s wage-and-hour practices are financially important. Your company’s compliance with state and federal wage-and-hour laws in compensating employees is particularly monetarily significant with regard to employee classification, including: Exempt versus non-exempt status for purposes of eligibility for overtime pay;…Read More

Highly paid salespersons on Wall Street typically are paid a substantial percentage of their yearly compensation in commissions. A commission is compensation based on a percentage of the dollar amount of the salesperson’s orders or sales. If you would like more information, contact our Manhattan, NYC Unpaid Commissions Lawyer for help. Under state and federal law, the failure of your…Read More

Periodically, your business in Manhattan, NY will want or need to terminate a worker’s or workers’ employment. Beginning well before such terminations, and throughout the working relationship, your company in Manhattan must manage workers’ performance and misconduct in a manner that is likely to lessen the risk of lawsuits for wrongful termination. So, too, your business in Manhattan must address employees’ performance and…Read More

On April 12, 2018, New York State Governor Andrew M. Cuomo signed, into law, a state budget for the 2018-2019 fiscal year, N.Y. State Senate Bill No. S07507C, N.Y. State Assembly Bill No. A09507-C (“the Act” or “the new law”). The Act includes a provision, Part KK, aimed at preventing sexual harassment in the workplace. Among other things, the Act requires employers in…Read More