LEGAL SERVICES TO THE BROKERAGE INDUSTRY

• FINRA, NYSE and other SRO's
• SEC and CFTC
• State Regulators

• Securities Arbitration
• Securities Litigation
• Settlements

• Criminal Matters
• Transactional Matters
• Compliance

FINRA, NYSE and other SRO's

I will help you respond to 8210 inquiries from the NASD, attend on-the- record interviews, prepare Wells submissions and vigorously defend you in FINRA administrative hearings. I will negotiate resolutions with your local District Business Conduct Committee (DBCC) in an effort minimize your exposure and expense. I will advise your firm in connection with standard FINRA audits, exit interviews, restriction letters, billing issues and a variety of other matters.

FINRA Sanctions Guidelines.

SEC and CFTC

I can assist in connection with SEC and CFTC subpoenas and Wells submissions. I provide firm and confident defense in connection with SEC formal orders of investigation, and can guide you through the complexities of the range of consequences related to the particular SEC matter.

State Regulators

I can help you formulate a strategy in connection with any Notice of Intent to Revoke issued by any state regulators or division. I can help you negotiate a resolution or provide vigorous defense in the event negotiation is not possible at any evidentiary trial or hearing.

Securities Arbitration

Arbitration defense is the central focus of my practice. I have obtained notable victories, resulting in zero damages awarded, on behalf of brokers and brokerage firms whose chances of victory were viewed as slim, including the now defunct Investors Associates, Inc., and Royal Hutton Securities, Inc., among many others. I have noteworthy experience defending against claims of: churning; unauthorized transactions; failure to trade; unsuitability; margin violations; excessive commissions and mark-ups; front-running; over concentration; abuse of discretion; penny stock violations; failure to supervise; control person liability; options violations; fraud; material omissions and a host of other claims. 

In addition to customer disputes, I handle arbitrations between and among industry personnel, including claims relating to U-4s, U-5s, forgivable loans, breach of agreements not to compete, raiding and related matters.

Securities Litigation

I am experienced in all aspects of securities litigation defense, including class action defense. I can work out a focused defense strategy with you, and then implement it, whether it be a motion to dismiss, aggressive discovery, a motion for summary judgment or trial. I have handled numerous securities cases arising under the federal securities laws, including the 1933 Securities Act, the 1934 Securities Exchange Act, and the Private Securities Litigation Reform Act among other relevant federal statutes.

I have handled a wide range of issues, including market manipulation, fraud on the market, unregistered securities, improper accounting, false and misleading forms 10-Q and 10-K, as well as the issues commonly confronted in arbitration, but brought instead in court.

I have experience litigating matters in both federal and state courts.

In addition, I have experience in expunging CRD records of improperly placed negative information through the use of Orders to Show Cause, and am thoroughly familiar with the processes involved in confirming or vacating arbitration awards in court.

Settlements

I have strong negotiating skills and can help you develop a firm understanding of the risks of going forward as measured against the cost of a negotiated compromise. I can help you develop direct or structured settlements.

Criminal Matters

In recent years, the number of prosecutions for securities violations has increased dramatically, both at a state and federal level. In connection with this area, I work in conjunction with a colleague, Michael Utilla, Esq., of Utilla & Associates. We can advise you with respect to your constitutional rights, the applicability and usefulness of the Fifth Amendment, so-called "Queen-for-a-day" agreements, arraignments, indictments, plea agreements, federal sentencing guidelines, FBI tactics, probation department interviews, as well as the corresponding New York State components of a Martin Act or related state prosecution / investigation. Mr. Utilla can be reached directly at (718) 852 9100.

Transactional Matters

I will help your firm draft employee agreements, branch office agreements and purchase agreements, and assist you with various aspects of your business. He can advise you or your firm with respect to the preparation of DRPs for CRD forms.

Compliance

I can help you draft or review your compliance procedures. I have given compliance seminars at various brokerage firms and can assist you with understanding the best way to comply with NASD Notices to Members.

I can help you develop harassment policies, review compliance with the evolving money laundering rules, know-your-customer rules and Rule 3070 requirements, and provide written opinions regarding reporting obligations in connection with a broad range of events and incidents.

I have recently authored a securities glossary: The GelberLaw Glossary,
An Encyclopedic Dictionary of the Securities Industry ©, and hope you 
enjoy my Wikipedia article on Joseph Norman Dolley.

Please feel free to telephone or e-mail me about your particular situation.
There is no charge for an initial telephone consultation.