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The Securities Practice Group provides clients with highly specialized legal and consulting services to enable them to deal effectively with the complexities of the regulatory landscape. The Group is led by Sylvia Scott, formerly Senior Enforcement Counsel with the NASD and Assistant Director and Branch Chief with the SEC. The Group consults with clients to assist them in complying with securities rules and regulations, implementing preventative or corrective measures as appropriate, and responding to regulatory inquiries by the SEC, NASD, NYSE and other regulators. To root out problems and prevent or mitigate regulatory action, the Group conducts forensic investigations to determine whether violations of securities rules or regulations have been violated before the regulators arrive.
The Group, together with the Litigation Department of which it is a part, also handles all securities enforcement matters before federal, state and administrative tribunals such as the SEC, NASD and NYSE. The Group and the Department also handle all aspects of dispute resolution, including the defense and prosecution of clients’ claims in arbitration proceedings and in state and federal court. (The Litigation Department’s many successes, as well as other relevant information, are detailed in the website section for that department.)
We also represent securities industry professionals, including financial consultants, branch/regional managers and investment bankers in employment disputes required to be litigated before various tribunals, including the NASD and NYSE.
As a courtesy to securities industry participants, the Group periodically publishes a Securities Industry Alert that keeps the reader informed of important developments in the industry. If you would like to receive a courtesy subscription to the Alert, please email Sylvia Scott, Editor, at
. Issues of the Alert are also posted on the website.
The Group provides a broad range of regulatory and compliance expertise to meet the needs of broker-dealers and associated persons. We advise brokerage clients on fulfilling their compliance, supervisory and training obligations mandated by NASD, SEC, and other rules. The Group assists brokerage clients in, among other things: 1) drafting, updating and refining their written supervisory and compliance procedures; 2) developing a meaningful continuing education program as required by NASD rules; 3) preparing for required annual compliance meetings; and 4) training supervisory and compliance staff to better enable them to discharge their responsibilities in a manner tailored to fit the firm’s unique business mix.
The Group also advises clients who are faced with a regulatory examination or information request, government investigation or customer complaint. If the matter escalates to an administrative, arbitration or court proceeding, the Group, as well as the Litigation Department, have expert litigators to handle it. Our attorneys have extensive experience in litigating cases involving all broker-dealer sales practice issues, supervisory and compliance issues, securities registration and fraud.
The Group and the Department have successfully represented dozens of securities industry professionals, including financial consultants, branch/regional managers and investment bankers in employment disputes required to be litigated before various tribunals, including the NASD and the NYSE.
The Group also advises broker-dealers on underwriting and private placement activities, as described below.
The Group advises registered investment advisers on shaping and implementing comprehensive compliance programs as required by the SEC. We also advise clients on how to be prepared for random inspections by the SEC or state regulators. By assisting clients in knowing the rules that result in common deficiencies and violations committed by investment advisers, clients can prevent or mitigate regulatory action. The Group also represents clients who are confronted with customer complaints, government investigations or enforcement actions.
ISSUERS/UNDERWRITERS/PRIVATE PLACEMENTS/HEDGE FUNDS
The Group advises issuers, broker-dealers and hedge funds on potential enforcement issues that can arise when raising capital from investors, including securities registration requirements, due diligence, disclosure issues, suitability requirements, and compliance with the SEC’s contingency offering rules. The goal of the Group is to minimize or avoid the risk of litigation. In the event a client is faced with a government investigation or enforcement action, the Group also has extensive experience in litigating these matters.
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