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The Financial Industry Regulatory Authority may have a hard time deciding whether a defunct credit union-owned brokerage firm, the adviser who worked for it or a North Carolina credit union is at fault in a multimillion dollar claim involving the trust of a deceased investor.

The securities regulator was scheduled Feb. 21 to hear the matter between SECU Brokerage, an investment adviser who worked with XCU Capital Corp., and Investors Arbitration Specialists, the trust that claims its client Helen Cohen suffered losses after an alleged failed real estate investment.

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