- Trading and mark-ups
- Net capital
- Clearance and settlement
- Sales practices
- Supervisory and reporting requirements under federal and state laws and regulations of FINRA, the SEC and state regulatory agencies
- Recruitment, employment and termination
- Customer privacy, data protection and education
- Regulatory proceedings before the SEC, FINRA and state regulatory agencies
Broker-Dealer & Financial Products
Our Broker-Dealer and Financial Products Practice Group serves the unique needs of the financial services industry. As one of the largest practices of its kind in the country, we have defended more than $1 billion in claims for clients in 39 states (including D.C.) during the past six years. We handle a wide range of matters for participants in the financial services industry, from bet-your-company litigation matters to routine compliance counseling. Our involvement in such a diverse range of matters provides a unique platform from which to help our clients with their opportunities and challenges. We regularly represent national, regional and local brokerage firms, representatives and investment advisers, as well as public and private institutions, in securities litigation and arbitration throughout the country. A significant amount of our practice involves issues impacting the fixed income markets and, in addition to product failure cases, we have extensive experience trying cases with complex issues involving a variety of financial products including municipal bonds, structured products, open-end and closed-end bond funds, CDOs, CMOs and other asset-backed securities. We assist our clients in defending class actions and investor arbitrations, as well as prosecuting and defending against raiding claims. We also represent clients in securities enforcement and regulatory proceedings and compliance matters with the U.S. Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) and state regulatory agencies. In addition, we regularly provide compliance and employment counseling, litigation support for non-compete and recruitment cases, and advising for data breach prevention and response. Among the types of issues about which we routinely counsel broker-dealer clients are:
We served as lead counsel for Morgan Keegan and related entities in Federal securities, ERISA and derivative multi-district litigation related...
We successfully defended LPL Financial in a $5.8 million FINRA arbitration claim. The claimants asserted that LPL improperly concentrated their...
We successfully argued issue of first impression under the Securities Litigation Uniform Standards Act before the U.S. Court of Appeals...
We successfully represented Morgan Keegan in obtaining the dismissal of customer claims against the firm in a FINRA arbitration. The...
Between 2008 and 2012, we represented Morgan Keegan in defense of more than 300 customer-initiated arbitrations in the wake of...
We represented Duncan-Williams, Inc. in a raiding case against Coastal Securities, Inc., in which our client alleged that Coastal and...
We represented Raymond James & Associates, Inc., in a raiding claim against a competitor, Cantor Fitzgerald, that hired a significant...
We successfully represented Securities Service Network and one of its investment advisory representatives in obtaining dismissal of customer claims against...
We successfully represented Securities Service Network, Inc., and its principal officer in an arbitration that was brought outside of the...
We successfully represented Century Securities in a FINRA arbitration involving claims of unsuitably risky and inappropriate investment recommendations to the...