Raymond James and Two Financial Advisors Win $16.4 Million Arbitration Award Against Deutsche Bank

Posted on May 2nd, 2023 at 2:01 PM
Raymond James and Two Financial Advisors Win $16.4 Million Arbitration Award Against  Deutsche Bank

From the desk of Jim Eccleston at Eccleston Law 

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Deutsche Bank to pay $16.4 million to Raymond James and two financial advisors in a dispute regarding fees. 

Raymond James and two of the firm’s financial advisors, Michael Kuras and Patrich Marsh, filed an arbitration claim against Deutsche Bank in September 2021 alleging that the bank failed to make revenue-sharing payments and pay residual fee trailers on ten commercial loans. Raymond James and the two financial advisors initially sought nearly $48 million in damages by alleging breach of contract and breach of implied covenant of good faith and fair dealing.

The three-person arbitration panel determined that Deutsche Bank was liable in each of the ten loan transactions, and awarded Raymond James $16,396,992 in compensatory damages. Deutsche Bank was ordered to directly pay the award to Raymond James, which will be “jointly and severally responsible” for allocating certain portions of the award to Kuras and Marsh.

 

Eccleston Law LLC represents financial advisors and investors nationwide in securities, employment, transition, regulatory and disciplinary matters.

 

Tags: eccleston, eccleston law

Return to Archive

TESTIMONIALS

Previous
Next

I cannot thank you enough for your guidance. It's a good feeling knowing someone is fighting for you.

Matt J.

LATEST NEWS AND ARTICLES

February 12, 2026
CFTC Signals New Rulemaking for Prediction Markets and Crypto Oversight

The Commodity Futures Trading Commission (CFTC) plans to develop new regulations governing the growing prediction markets industry, Chairman Michael Selig announced, signaling a shift in regulatory strategy.

February 11, 2026
Ameriprise Advisor Phishing Incident Potentially Exposes Client Data

A phishing incident involving an Ameriprise Financial advisor potentially exposed the personal information of hundreds of clients, according to a disclosure posted by the Maine Attorney General’s office.

February 10, 2026
Merrill Lynch Expands Client Disclosures on Crypto and AI Risks

Merrill Lynch updated its required client disclosure brochure to address, for the first time, the evolving risks tied to cryptocurrency-linked investments and the firm’s expanding use of Artificial Intelligence tools.