How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Dwayne B. Your Own Question
Dwayne B.
Dwayne B., Attorney
Category: Legal
Satisfied Customers: 32154
Experience:  Began practicing law in 1992
Type Your Legal Question Here...
Dwayne B. is online now
A new question is answered every 9 seconds

Hello- for the purposes of disclosure, is a settlement of a

Resolved Question:

Hello- for the purposes of disclosure, is a settlement of a client dispute considered the same as an award? I am a licensed investment advisor and an old client filed an arbitration dispute that my broker dealers legal department made a business decision and settled because the cost of defense would have been substantially more. My interpretation is that it is not an "award" because the arbitration panel /court did not order the client to receive the settlement and there was no wrong admission of guilt or wrongdoing. Here is what the regulators consider a disclosure event: "An award or otherwise being found liable in an arbitration claim". What is your interpretation of this? Thank you.
Submitted: 4 years ago.
Category: Legal
Expert:  Dwayne B. replied 4 years ago.
I agree with your interpretation. Since there was no finding of wrongdoing or an award issued by the arbitrator then it doesn't meet that definition.
Thank you for allowing me to assist you. As you know, we work on the honor system here and cannot always provide you answers that you like. I believe I have answered all of the questions you asked so I would request that you please click the ACCEPT button so I receive credit for my work and leave feedback if you have a chance. Please consider clicking "BONUS" as a nice way of saying "thanks" for a job well done, although this is neither required nor expected. I believe in giving information that is to the point, but please remember that I can only base our answers on the information you provide and sometimes a misunderstanding as to what you are looking for or already know occurs so feel free to ask additional questions or for clarifications. Be very careful about looking at other internet sites that just post generic information without any inquiry into your facts because often those answers are dated, wrong, or wrong as applied to your facts. Please be aware that my answer is not legal advice, it is merely information. You should always contact a local attorney for legal advice.
Several customers have asked how they direct a question to me in particular. If you specifically want me to provide information for you just put “FOR JD 1992” in the subject line and I will pick up the next time I am online.
Dwayne B. and other Legal Specialists are ready to help you

Related Legal Questions