Tr?id=566623520170033&ev=PageView&noscript=1

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
Quotes Bigger

I want to thank you for your excellent professional representation. It was greatly appreciated.

Michael M.

LATEST NEWS AND ARTICLES

1784046159 Law
July 14, 2026
Mariner Wealth Advisors Reports Data Breach Affecting Nearly 9,000 Customers

Mariner Wealth Advisors LLC disclosed a data breach that exposed personal information of 8,995 customers, according to AdvisorHub.

1783957061 Law
July 13, 2026
FINRA Warns of Growing Risks From Finfluencers and AI-Driven Investment Content

Financial Industry Regulatory Authority (FINRA) regulators are raising concerns about the increasing influence of social media personalities and artificial intelligence (AI) on retail investors, particularly those managing their own investments without professional guidance.

1783615970 Law
July 9, 2026
FINRA Suspends Former Branch Manager for Supervisory Failures Linked to Excessive Trading and Churning

A former regional branch manager at a broker-dealer has agreed to Financial Industry Regulatory Authority (FINRA) sanctions after the regulator found that he failed to supervise registered representatives who engaged in excessive trading and churning of customer accounts.