Once upon a time, registered employees of brokerage firms who believed that they were discharged, passed over for promotion, or otherwise discriminated against by their firm due to age, race, color, religion, sex, or national origin were absolutely required to arbitrate their claims by virtue of their NASD n/k/a FINRA membership and signature to a Form U-4, solely. In 1991, the Supreme Court decided the landmark case Gilmer v. Interstate/Johnson Lane Corp. and changed all that! The decision caused FINRA to modify its industry employment arbitration rules several times. Brokerage firms now need special arbitration agreements with employees to compel arbitration of statutory discrimination and sexual harassment claims. Yet many other employee disputes related to their discrimination claims must be arbitrated. The strategic decision about where, when, and how to file discrimination and related employment claims has become more complex. The decision requires counsel from an attorney well versed in statutory discrimination claims and FINRA arbitration rules, practices and procedures. The attorneys at the Law Offices of Robert Wayne Pearce, P. A. have over 40 years experience in helping brokers and financial advisors make these decisions.We Handle ADEA And Title VII Claims For Stockbrokers Nationwide
The Age Discrimination in Employment Act of 1967 (ADEA) makes it unlawful for an employer to discharge, refuse to hire, or otherwise discriminate an employee because of that employee's age when that employee's 40 or older. The ADEA does not require an employer to provide "special treatment" for employees in the protected age group and can take whatever action it wants so long as it is not based on the employee's age. The key for success on these claims is to show that the stockbroker was treated differently, specifically on the basis of age and not some other factor such as salary level, pension status, or seniority, which correlates with age. However, the employee's age need not have been the only reason. The employee need only prove that his or her age played a part in its decision, a motivating factor in the employer's decision or conduct.
Similarly, Title VII of the Civil Rights Act of 1964 (Title VII) prohibits employment practices that discriminate against individuals because of race, color, religion, sex, or national origin. Title VII provides that it is unlawful for certain designated employers to fail or refuse to hire or to discharge any individual or otherwise discriminate against any individual with respect to the individual's compensation, terms, conditions, or privileges of employment because of such individual's race, color, religion, sex, or national origin. It also prohibits an employer from limiting, segregating or classifying its employees, or applicants for employment, in any way that would deprive or tend to deprive any individual of employment opportunities or otherwise adversely affect the status of an employee because of such individual's race, color, religion, sex, or national origin. Title VII applies to all brokerage firms with 15 or more employees providing the employees are not classified as bona fide independent contractors.
The burden of proving the brokerage firm intentionally treated the broker in a manner different from other employees on the basis of the prohibited factors such as age, race, color, religion, sex, or national origin and the invalidity of brokerage defenses requires the hiring of an attorney with knowledge of the securities industry and a trial lawyer with skill and experience in handling these claims. Attorney Pearce has all of the credentials and experience necessary to evaluate and prosecute your discrimination claims.Free Initial Consultation With Attorneys Who Can Handle Your Discrimination Problems
The Law Offices of Robert Wayne Pearce, P.A. understands what is at stake in securities, commodities, and investment industry employment law matters and constantly strives to secure the most favorable possible result. Mr. Pearce provides a complete review of your case and fully explains your legal options. The firm works to ensure that you have all of the information necessary to make a sound decision before any action is taken in your case.
For dedicated representation by a law firm with substantial experience in all kinds of securities, commodities, and investment industry employment disputes, contact the firm by telephone at 561-338-0037 or toll free at 800-732-2889 or via e-mail. We may also be able to arrange a meeting with you at offices located in Boca Raton, Fort Lauderdale, Miami and West Palm Beach, Florida and elsewhere.