Alternative Dispute Resolution
Apr. 4, 2014
Lying arbitrator's awards cannot be challenged, FINRA says
James H. Frank sat on nearly 50 panels in the course of his 15 years as a FINRA arbitrator, but parties must file a motion to vacate awards within 90 days of receiving the award.
Daily Journal Staff Writer
The Financial Industry Regulatory Authority, which removed a long-serving California arbitrator from its roster after it came to light that he lied about being a lawyer and a member of the bar in several states, says the decisions James H. Frank made cannot be challenged.
Frank, 72, awarded some $3 million and sat on nearly 50 panels during the course of his 15 years as a FINRA arbitrator. The Santa...
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