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Ex-Ameriprise Broker Gets Supreme Court Hearing

In early November, the U.S. Supreme Court will hear arguments on behalf of Denise Badgerow, a Louisiana financial advisor. Badgerow wants to have a state court vacate a FINRA arbitration ruling instead of following a federal court’s decision to confirm the regulator’s award. So reports Advisor Hub.

supreme court 544218 640smallIf Badgerow wins, brokerages and other firms may look at arbitration as risky.

“This decision by the Supreme Court will determine whether a federal court has jurisdiction over a motion to vacate,” said Brady Hermann, a lawyer who is not involved in the case but often represents brokerages. “Brokerages are going to want to be in federal court.”

Read the full article from Advisor Hub.

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