For the Broker Dealer
The highly publicized investigations of public companies and financial institutions are well-known to most investors. Investors in turn are looking more closely at their brokerage account relationship and seeking readily available advice to redress their losses. The large volume of investor-related arbitrations in the last few years dictates that the securities industry be more proactive in its dealings with its clients for their clients’ protection as well as their own.
It’s expensive to get sued. Even in the absence of cognizable liability, arbitrations are filed which are costly to defend, even if you win. It is important therefore to take steps to minimize such suits and to ensure that you have the best possible defenses when and if they occur.
A holistic approach therefore involves having an effective system of supervisory controls which are followed; adequate documentation of the broker’s relationship with the client; written evidence of regular supervisory oversight; and a document retention program which ensures the availability of necessary records if and when they become necessary to defend an action. Our approach therefore integrates the elements of avoiding litigation while being prepare for defending litigation when it happens.
We offer the experience of our involvement in over 1,000 securities arbitrations to help you avoid the cost of such disputes and effective representation when such disputes arise.
Beyond arbitration, we offer experience representation in the following areas:
- SEC Administrative and Civil Injunctive actions.
- FINRA Investigations (8210 Requests) and Disciplinary Matters
- Investigations and proceedings brought by State Securities Regulators, or attorneys general;
- Civil actions brought in State Court;
- Civil actions brought in Federal Court
While the practice is primarily a litigation practice, Mr. Lawlor’s industry experience allows advice and consultation on most important aspects of daily brokerage activities including operations and compliance matters; trade reporting requirements; record retention requirements; drafting or updating written supervisory procedures; U-4 disclosures (DRPs) and the necessity and timing of U-4 amendments, U-5 reporting; and routine regulatory inquiries.
In addition we can assist in the drafting of employment agreements, advanced compensation arrangements (ACA’s), separation agreements; non-compete agreements; and finders’ fee agreements, among others.