Take It Or Leave It --
FINRA Arbitrator Calls Wells Fargo's Conduct Unconscionable 

http://www.brokeandbroker.com/index.php?a=blog&id=590

 Let me spell it out. In Wells Fargo v Cook, the FINRA member firm's conduct is found by a FINRA arbitration panel to be "procedurally unconscionable" and forced upon an employee in a non-negotiable "take it or leave it basis."  I would call to the attention of the diligent regulators at FINRA their own FINRA Rule 2010 -- the most basic, fundamental rule on FINRA's books:

Standards of Commercial Honor and Principles of Trade

A member, in the conduct of its business, shall observe high standards of commercial honor and just and equitable principles of trade.

So, tell me, what is FINRA going to do about this arbitration?  Does Wells Fargo / Wachovia get a pass for engaging in unconscionable, non-negotiable, "take it or leave it" hardball with its employees?  Is this an example of "high standards of commercial honor and just and equitable princples of trade?"

You know, I'd send FINRA's Ombudsman and its Whistleblower offices another more formal referral but, hey, what's the point? If I ask, they won't tell.  If I don't ask, they won't tell. Why waste my time?

READ BILL SINGER'S COMPREHENSIVE ANALYSIS OF THIS WELLS FARGO / WACHOVIA CASE:

Take It Or Leave It --
FINRA Arbitrator Calls Wells Fargo's Conduct Unconscionable

http://www.brokeandbroker.com/index.php?a=blog&id=590