One focus of our securities law practice is the representation of Registered Representatives, Registered Investment Advisors and Certified Financial Planners in litigation, arbitration, and in regulatory proceedings. We have extensive experience in securities fraud cases and representing brokers in FINRA arbitrations concerning employment and compensation issues, particularly broker-dealers’ recruiting practices and the “forgivable promissory notes” frequently offered to brokers as a component of their prospective or ongoing compensation. We also represent Registered Representatives in litigation and arbitration concerning the disclosures made on Forms U-4, U-5, and related Central Registration Depository (“CRD”) reporting matters. We have successfully obtained expungement of inappropriate and inaccurate CRD disclosures in many cases, disclosures which otherwise would have devastated our clients’ careers. Additionally, we frequently advise our clients with respect to prospective employment transitions, including compliance with the “Broker Protocol”.
While it is impossible to list all of the Financial Services/Brokerage Industry Disputes And Counseling matters our securities attorney in San Diego handled over the years.
The following are examples of matters our law firm have handled:
- FINRA Arbitration Lawyer Representative Case #1: Obtained an arbitration award after trial on behalf of a highly compensated broker against a multi-national brokerage firm in the amount of $500,000, an amount offset against the amounts the broker owed to the firm pursuant to his forgivable promissory note. The FINRA arbitration Panel in the case unanimously found the firm made affirmative misrepresentations to the broker in connection with his recruitment, entitling him to this substantial offsetting award.
- FINRA Arbitration Lawyer Representative Case #2: Representation of a group of five Registered Representatives who joined together to file a single FINRA arbitration claim arising out of the recruitment practices of a Branch Manager who made identical misrepresentations to each of the claimants during their recruitment from various different firms. The clients sought damages sufficient to offset the amounts they each owed pursuant to forgivable promissory notes the brokers entered into with the recruiting firm. After extensive litigation, the five Registered Representatives confidentially resolved all claims prior to the arbitration hearings.
- FINRA Arbitration Lawyer Representative Case #3: Representation of a highly successful team of three Registered Representatives recruited to leave their stable and lucrative positions and join a competing brokerage firm based on key material misrepresentations made during their recruitment concerning the recruiting firm’s trading platform. The team remained employed at the firm throughout the FINRA arbitration proceedings. After a formal mediation, the case was resolved pursuant to confidential terms. The team continued to work at the firm after the case was resolved.
- FINRA Arbitration Lawyer Representative Case #4: Representation of a broker in FINRA arbitration proceedings concerning the expungement of false and defamatory statements made by her employer on her Forms U-4, U-5 and CRD. After a one-week trial, the FINRA Arbitration Panel ordered the offending language expunged and awarded our client her attorneys’ fees and costs of suit, highly unusual in FINRA proceedings of this nature.
- FINRA Arbitration Lawyer Representative Case #5: Representation of a broker with an otherwise spotless CRD record in a FINRA arbitration involving, among other claims, a claim for expungement of certain inaccurate disclosures made by her employing brokerage firm on her Form U-5 and CRD. After a two-week trial, the FINRA Panel awarded expungement of our client’s inaccurate disclosures.
- FINRA Arbitration Lawyer Representative Case #6: Representation of a Certified Financial Planner in a CFP Board Disciplinary proceeding. The client faced the revocation of his CFP designation due to certain misconduct alleged by his employer. We successfully obtained a dismissal of the complaint in its entirety before the matter was submitted to the hearing Panel.