dcsimg Broker-Dealers and Investment Advisers

Broker-Dealers and Investment Advisers

McGuireWoods’ experienced broker-dealers and investment advisers regulatory compliance and defense team guides clients through the complex and continually evolving issues confronting the securities industry. The team is composed of former government insiders and senior in-house counsel, as well as accomplished litigators who have achieved exceptional results for their clients.

Our attorneys stay apprised of proposed and newly adopted laws, rules and interpretations, to help ensure that our clients are in compliance with their regulatory obligations. We advise on a range of issues, including research, sales and trading practices, fiduciary duty, structured products, supervisory controls, registration, order and trade reporting, soft dollars, information barriers, conflicts of interest, and insider trading. We regularly conduct internal investigations and audits, advise clients on establishing and strengthening compliance and supervisory programs, and provide training to clients’ employees.

On the defense front, we represent clients involved in regulatory examinations and investigations by the Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA), Department of Justice (DOJ), Congress, state attorneys general, and other federal and state civil and criminal regulators. Our national litigation team vigorously defends brokerage firms and their employees against claims relating to fraud, suitability, negligence, trading errors, selling away, breach of contract, trade secrets and corporate raiding.

In addition to subject matter experience, litigation and government investigations often require large-scale document collection and review. Discovery on these matters is handled efficiently and cost effectively through our Discovery Counsel Services (DCS) practice. Led by McGuireWoods attorneys, DCS includes stand-alone e-discovery facilities that can house up to 220 contract attorneys using state-of-the-art technology.

Regulatory Compliance

Brokers-dealers, investment advisers, hedge funds, banks and issuers regularly seek our advice on the full spectrum of regulatory, business and compliance issues. Because we have looked at securities issues from the viewpoint of the government, in-house counsel and private practice, we have an in-depth understanding of the industry and markets.

We have counseled clients on a range of regulatory issues, including investment banking activities; research, sales and trading practices; supervisory controls; registration; order and trade reporting; statutory disqualifications; referral agreements; information barriers; conflicts of interest; issuer repurchases; prime brokerage; Regulation S-P; subordinated loan agreements; soft dollars; anti-money laundering; and insider trading.

We also work closely with clients on the structure and sale of new securities products to comply with regulatory requirements. Our team also regularly conducts internal investigations and audits, which helps clients strengthen compliance and supervisory programs, or prepare for regulatory examinations.

Inquiries and Investigations

Representation of clients in securities-related inquiries and investigations presents distinct challenges. It also requires strategies different from those typically employed in civil or commercial disputes. The mere initiation of an enforcement action by a regulator can cause extensive harm to a client’s reputation or business prospects. Attorneys handling these matters require unique approaches and skill-sets in order to best position clients’ interests from the first document request to the ultimate resolution.

Our team members bring broad perspectives and practical approaches to advising clients, having spent many years with government agencies, in private practice, and in senior in-house legal positions. We draw on this experience to help clients negotiate an increasingly complex array of regulatory requirements. Our attorneys hail from the SEC’s Divisions of Enforcement and Trading and Markets, FINRA’s Enforcement Department, Market Regulation and Member Regulation and NASDAQ’s Regulatory Group.

We have extensive experience representing clients in enforcement investigations and proceedings initiated by the SEC, FINRA, NYSE Regulation, and other state and federal regulators. We have experience representing clients at every stage of these matters – from informal inquiries through investigations, disciplinary proceedings and appeals. We also defend individual and institutional clients in parallel investigations by state and federal criminal authorities.

Litigation/Arbitration

The pressures and challenges confronted by companies conducting business in these times of heightened public awareness and increased SEC scrutiny require the counsel of experienced securities litigation attorneys. McGuireWoods has significant experience in national securities litigation that extends to numerous representations of broker-dealers, investment advisers, banks and issuers.

Clients have trusted our ability to represent them in matters before federal and state courts, the Center for Multi-district Litigation, FINRA and AAA arbitrations and mediations. Our experience encompasses all aspects of the expanding services offered by financial institutions, including recent cases involving securities fraud, sales practice violations, ERISA investment standards, failed asset securitizations and defaulted syndicated loans.

CONTACTS

Anitra T. Cassas Partner T: +1 804 775 4727
Edward G. Rosenblatt Senior Counsel T: +1 704 343 2341
Results 1-20 of 33
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RESULTS DEPEND ON A VARIETY OF FACTORS UNIQUE TO EACH CASE. PRIOR RESULTS DO NOT GUARANTEE OR PREDICT A SIMILAR OUTCOME.

Representative Matter

Fortune 50 financial institution

Represented Fortune 50 financial institution in consolidated securities fraud litigation in Oklahoma state court arising from the bankruptcy of the nation’s largest servicer of defaulted credit card receivables until its financial collapse.
Representative Matter

Broker-dealer

Representation of broker-dealers in ex parte proceedings in federal and state courts to obtain orders allowing mirror imaging of competitors’ computers to determine the presence of misappropriated confidential and trade secret information.
Representative Matter

Two investment banking firms

Representation of two investment banking firms in obtaining dismissal of multimillion-dollar claims alleging fraud, breach of contract, negligence and breach of fiduciary duty in connection with an IPO.
Representative Matter

National securities firm

Representation of a national securities firm in connection with an NYSE investigation and civil action seeking damages arising from alleged embezzlement from the customer’s brokerage account.
Representative Matter

Major financial institution

Representation of a major financial institution in connection with a FINRA enforcement action for violations of registration requirements.
Representative Matter

Broker-dealer

Representation of a broker-dealer in connection with NYSE Regulation enforcement actions for prospectus delivery and blue sheet reporting violations.
Representative Matter

Broker-dealer

Representation of a broker-dealer in connection with FINRA enforcement actions for order reporting, continuing education and selling-away violations.
Representative Matter

International financial services firm

Conducted multiple internal investigations into allegations of insider trading and proprietary trading violations at international financial services firms.
Representative Matter

Representation of a broker-dealer in several FINRA enforcement actions

Counsel for broker dealer in FINRA investigation related to unauthorized trading and failure to supervise as well as failure to provide accurate confirmation statements.
Representative Matter

Favorable settlement obtained in action against a registered rep.

Counsel for life insurance company in allegations of fraud against registered representative for sales of insurance policies that involved premium financing.
Representative Matter

1 % of the initial demand, a bargain for Fortune 500 in settlement of class action and related matters

Defeated class certification in a proposed class action and five related state court cases against our broker-dealer client involving alleged Ponzi scheme investments. The case settled for 1 percent of the initial demand.
Representative Matter

Failed fund leads to FINRA arbitration for Fortune 500 bank client

Representation of a Fortune 500 financial institution in a suit related to their ultra-high-wealth unit. Bank recommended that claimants purchase shares in an alternative investment fund as part of their overall diversified investment strategy. After that fund failed, claimants initiated a FINRA arbitration against the bank alleging breach of contract, breach of fiduciary duty, negligence, and fraud. Claimants agreed to JAMS arbitration after the bank moved to dismiss for lack of FINRA jurisdiction. A three-day arbitration hearing was held, focusing on the bank's due diligence performed prior to recommending fund to claimants and the appreciation of claimants’ investment portfolios despite the fund's failure and the financial crisis. Panel awarded claimants zero damages.
Representative Matter

Investment subsidiary of a Fortune 100 financial institution

Representation of investment subsidiary of a Fortune 100 financial institution in trade secrets case. Obtained temporary restraining order and subsequently negotiated a favorable settlement concerning three financial services brokers who surreptitiously and carefully orchestrated a plan to misappropriate trade secrets and to use that information to solicit their former employer’s customers to transfer their accounts to their new employer.
Representative Matter

Secured favorable settlement for broker dealer related to a Ponzi scheme

Representation of a broker dealer before the Massachusetts Securities Division related to failure to supervise a branch office involved in a Ponzi scheme, resolving the matter with no action brought against the firm.
Representative Matter

Broker-dealer

Representation of broker-dealer in various FINRA arbitrations and mediations by multiple claimants alleging they were placed in unsuitable and highly risky variable annuities.
Representative Matter

Broker-dealer

Representation of broker-dealer in a FINRA arbitration involving claims of breach of fiduciary duty, breach of contract, negligence and common law fraud.
Representative Matter

Broker-dealer

Representation of a broker-dealer in a FINRA examination concerning the sale of structured products.
Representative Matter

Broker-dealer

Representation of a broker-dealer in connection with claims against former employees and new employer for misappropriation of trade secrets, breach of fiduciary duty, breach of contract and tortious interference.
Representative Matter

Broker-dealer

Representation of a broker-dealer in connection with a FINRA enforcement action for research disclosure violations.
Representative Matter

Broker-dealers & investment advisers

Advised broker-dealers and registered investment advisers concerning the formation, registration and operation of firms, and compliance with state and federal regulatory requirements.
Results 1-20 of 33
Results 1-25 of 42
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John S Barr John S. Barr
Counsel
Gateway Plaza
800 East Canal Street
Richmond, VA 23219-3916

T: +1 804 775 4709
F: +1 804 698 2238
vCard
Kevin Boardman J. Kevin Boardman
Partner
2000 McKinney Avenue
Suite 1400
Dallas, TX 75201

T: +1 214 932 6403
F: +1 214 932 6499
vCard
Brys Laura G. Brys
Counsel
1800 Century Park East
8th Floor
Los Angeles, CA 90067-1501

Wells Fargo Center
South Tower
355 S. Grand Ave, Suite 4200
Los Angeles, CA 90071-3103

T: +1 310 315 8226
F: +1 310 956 3167
vCard
Anitra T Cassas Anitra T. Cassas
Partner
Gateway Plaza
800 East Canal Street
Richmond, VA 23219-3916

T: +1 804 775 4727
F: +1 804 698 2000
vCard
Jeffrey J Chapman Jeffrey J. Chapman
Partner
1345 Avenue of the Americas
7th Floor
New York, NY 10105-0106

T: +1 212 548 7060
F: +1 212 715 6277
vCard
Robert A Crawford Robert A. Crawford
Associate
201 North Tryon Street
Suite 3000
Charlotte, NC 28202-2146

T: +1 704 343 2264
F: +1 704 353 6155
vCard
Mehboob R Dossa Mehboob R. Dossa
Partner
11 Pilgrim Street
London EC4V 6RN
United Kingdom

T: +44 20 7632 1627
F: +44 20 7632 1638
vCard
Elizabeth Edwards Elizabeth F. Edwards
Partner
Gateway Plaza
800 East Canal Street
Richmond, VA 23219-3916

T: +1 804 775 4390
F: +1 804 698 2045
vCard
Jennifer Farer Jennifer L. Farer
Partner
2001 K Street N.W.
Suite 400
Washington, DC 20006-1040

T: +1 202 857 1708
F: +1 202 828 3336
vCard
Jeremy D Freeman Jeremy D. Freeman
Partner
1345 Avenue of the Americas
7th Floor
New York, NY 10105-0106

T: +1 212 548 7008
F: +1 212 715 6269
vCard
William E. Goydan
Partner
1345 Avenue of the Americas
7th Floor
New York, NY 10105-0106

T: +1 212 548 2146
F: +1 212 715 6280
vCard
Louis Greenstein Louis D. Greenstein
Partner
2001 K Street N.W.
Suite 400
Washington, DC 20006-1040

1345 Avenue of the Americas
7th Floor
New York, NY 10105-0106

T: +1 202 857 2415
F: +1 202 828 3310
vCard

T:+1 212 548 7068
F: +1 212 548 2150

Cheryl Haas Cheryl L. Haas
Partner
Promenade
1230 Peachtree Street, N.E.
Suite 2100
Atlanta, GA 30309-3534

T: +1 404 443 5726
F: +1 404 443 5777
vCard
Mary Hackett Mary J. Hackett
Partner
EQT Plaza
625 Liberty Avenue
23rd Floor
Pittsburgh, PA 15222-3142

T: +1 412 667 7944
F: +1 412 667 7978
vCard
Sarah Gayle Hanson
Associate
1345 Avenue of the Americas
7th Floor
New York, NY 10105-0106

T: +1 212 548 7063
F: +1 212 715 2304
vCard
Nova D Harb Nova D. Harb
Counsel
Bank of America Tower
50 North Laura Street
Suite 3300
Jacksonville, FL 32202-3661

T: +1 904 798 2639
F: +1 904 798 3260
vCard
Bo Harvey Bo Harvey
Associate - Not Admitted in CA; Admitted to NY Bar
1800 Century Park East
8th Floor
Los Angeles, CA 90067-1501

1345 Avenue of the Americas
7th Floor
New York, NY 10105-0106

T: +1 310 315 8293
F: +1 310 956 3162
vCard

T:+1 212 548 2188
F: +1 212 715 6261

Mark W Kinghorn Mark W. Kinghorn
Partner
201 North Tryon Street
Suite 3000
Charlotte, NC 28202-2146

T: +1 704 343 2102
F: +1 704 444 8855
vCard
Mark A Kromkowski Mark A. Kromkowski
Partner
77 West Wacker Drive
Suite 4100
Chicago, IL 60601-1818

T: +1 312 849 8170
F: +1 312 698 4548
vCard
Kurt E. Lentz
Associate
Promenade
1230 Peachtree Street, N.E.
Suite 2100
Atlanta, GA 30309-3534

T: +1 404 443 5739
F: +1 404 443 5797
vCard
Nicholas B. Lewis Nicholas B. Lewis
Associate
2001 K Street N.W.
Suite 400
Washington, DC 20006-1040

T: +1 202 857 1771
F: +1 202 828 3306
vCard
John Lukanski John O. Lukanski
Partner
1345 Avenue of the Americas
7th Floor
New York, NY 10105-0106

T: +1 212 548 2111
F: +1 212 715 6281
vCard
Anne Bentley McCray
Partner
Gateway Plaza
800 East Canal Street
Richmond, VA 23219-3916

T: +1 804 775 1037
F: +1 804 698 2087
vCard
John G McDonald John G. McDonald
Partner
201 North Tryon Street
Suite 3000
Charlotte, NC 28202-2146

1345 Avenue of the Americas
7th Floor
New York, NY 10105-0106

T: +1 704 343 2276
F: +1 704 444 8753
vCard

T:+1 212 548 2176
F: +1 704 444 8753

Hardeep S Nahal Hardeep S. Nahal
Partner
11 Pilgrim Street
London EC4V 6RN
United Kingdom

T: +44 20 7632 1680
F: +44 20 7632 1638
vCard
Results 1-3 of 3
Speaking Engagement

The 3rd Annual European Offshore Alert Financial Intelligence & Investigations Conference

Litigation Funding: A Look At The Industry

November 10, 2014
London
Speaking Engagement

White House Rural Council

July 24, 2014
Washington, D.C.
Results 1-3 of 3
Results 1-20 of 38
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Legal Alert

FINRA Issues Sweep Letter on Firms' Cultural Values

Subject to Inquiry
February 22, 2016
Legal Alert

A Guide to SEC’s Regulation A+

December 14, 2015
Legal Alert

Four Cybersecurity Ideas from CFTC Commissioner Bowen

Password Protected
September 25, 2015
Legal Alert

SEC to Vote on Regulation A+ this Wednesday

Will State Law Preemption Survive?

March 23, 2015
Legal Alert

Swaps End-User Update

Canadian Representation Letter Deadline Approaches

October 29, 2014
Legal Alert

Swaps End-User Update

CFTC Ownership and Control Reporting Rules

October 23, 2014
Legal Alert

Swaps End-User Update

CFTC Provides End-Users with Limited Relief from Certain Recordkeeping Requirements

June 4, 2014
Legal Alert

Swaps End-User Update

EMIR Risk Mitigation Requirements Reminder

April 28, 2014
Legal Alert

Will Regulation A+ Make the Grade?

Explanation of Comments Received by the SEC

April 21, 2014
Legal Alert

Swaps End-User Update

Recordkeeping Requirements

April 16, 2014
Legal Alert

Swaps End-User Update

Segregation of Initial Margin

March 26, 2014
Results 1-20 of 38