A Finra arbitration panel has held the brokerage house liable for damages linked to structured notes sales, underscoring ongoing risks in complex product distribution.
Two sets of retail investors will receive a total of US$1.3m in compensation for their losses from structured notes, according to a panel of three public arbitrators in Phoenix, Arizona on Tuesday (17 February). James and Tina Baldocchi, individually and jointly, and James Baldocchi are the first set of claimants who filed the case in March 2024 The penalty is imposed on Fidelity Brokerage Service LLC (Fidelity), a subsidiary of Fidelity Investments, which is represented by Joel Everest at B