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Regulatory Defense
We regularly defend clients in investigations and proceedings initiated by the Financial Industry Regulatory Authority (“FINRA”), state securities authorities and federal prosecutors around the United States. Collectively, our lawyers have assisted clients in the successful defense of a variety of charges, including those alleging: improper sales practices (churning, unsuitability, misrepresentation, unauthorized transactions); failure to adequately supervise; front running; free riding; embezzlement; market manipulation; trading away; insider trading; regulatory reporting failures, and all types of state blue sky violations. Over the past few years, our firm successfully defended one of the world’s largest financial services companies in a multi agency investigation with potential liability of over a billion dollars. Our regulatory defense team is currently handling, among other significant cases, matters related to Class B mutual fund shares; gifts and gratuities; mutual fund market timing; and variable annuity sales.
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