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Locus Standi is a platform for the dispute-resolution world. It brings together arbitration, mediation and adjudication events, jobs and internships, and landmark arbitral awards explained in plain English, alongside the qualifications and pathways into the field. It was established in London at LIDW26 by the alumni of Queen Mary University of London.

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Locus Standi keeps a live calendar of arbitration, mediation and adjudication events with one-tap calendar export, and a board of arbitration jobs and internships from institutions including the PCA, ICC, LCIA, SCC, SIAC and AIAC.

25-01426 Michael Leslie v. Merrill Lynch Pierce Fenner & Smith Inc. (FINRA Dispute Resolution Services)

Why it matters

Michael Leslie v. Merrill Lynch Pierce Fenner & Smith Inc., decided in FINRA arbitration. In this case a customer or associated person brought a claim against Merrill Lynch Pierce Fenner & Smith Inc.. For a student, it shows how FINRA arbitration works: the binding, largely private forum where the great majority of US securities disputes are resolved instead of the courts, with awards enforceable in court and open to challenge only on narrow grounds.

Summary

Michael Leslie v. Merrill Lynch Pierce Fenner & Smith Inc.: a FINRA arbitration award (case 25-01426), 05/07/2026. The panel's decision is set out in the award.

The detail

Parties: Michael Leslie v. Merrill Lynch Pierce Fenner & Smith Inc.

Case number: FINRA Case No. 25-01426

Outcome: Expungement request; recommendation subject to court confirmation.

Applicable law: FINRA Code of Arbitration Procedure; United States securities law; the parties' brokerage agreement.

Issues in play: An investor's or an industry member's claim, decided in FINRA's arbitration forum rather than the courts.

Read the full decision at FINRA Arbitration Awards Online ↗

Locus Standi links to the source decision and publishes its own plain-language summary. It does not reproduce the text of the award.

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