Securities Industry Participants

Securities Industry Employees

Financial services employees need their own New York securities regulatory attorney to navigate employment laws when they have a license at stake. To successfully navigate the vast, complex securities laws and FINRA rules within the highly regulated financial services industry, it is important not to be penny wise/pound foolish. For certain, the brokerage firms brokers, traders and analysts work at are well-represented by experienced securities lawyers, so representing yourself is not a truly viable option.

Too often, an employee’s desire to “get it done,” “just help” or “tell them everything” – expecting a fair response – leads to a manipulated firm or customer response not in their favor. Any New York regulatory attorney will tell you, being innocent is not enough. It is important to get help at the earliest possible time to avoid a situation that will cost a heck of a lot more later if things do not go your way.

Whether you need help with transitioning to a new broker-dealer or protection from your current employer, our lawyers have your back. Malecki Law’s extensive record for securing favorable awards on behalf of our securities employees includes successful regulatory investigation coverage, numerous expungements, negotiated settlements, and more. From on-the-record interviews (a critical stage in the process for which a client needs to be prepared) to favorably negotiated settlements in cooperation with the regulatory body at issue, as well as fully litigated hearings and whistleblowing cases, each case takes its own course according to the clients’ needs and abilities.

Securities laws and FINRA rules enforce stringent reporting requirements with publicly available broker records that keep grievances out in the open. Given this, securities employees must be continuously mindful of how their conduct impacts customers, supervisors, employees, and regulators. Reported errors in managing a customer account, employer terminations, or regulator’s complaint could ruin a financial industry professional’s career. With that said, even well-intentioned securities employees can end up with a frivolous customer complaint, an employer’s inaccurate U5 or involved in an unnecessary regulatory investigation. Fortunately, financial professionals can resolve as well as prosper in these adverse predicaments with the guidance and advocacy of a securities employment lawyer. Many industry professionals keep Malecki Law on retainer to advise them as situations arise that need immediate attention.

Employment Issues & Disputes

The New York securities regulatory attorney at Malecki Law will counsel clients in various securities industry employment issues to avoid litigation or to institute actions on behalf of former employees, including, but not limited to, representation in:

• Expungement of Wrongful U-4/U-5 Statements
• Dodd-Frank Whistleblower Cases
• Cooperation in Criminal, Civil, Regulatory and Self-Regulatory Matters
• Wrongful Termination/Constructive Discharge
  • Discrimination and/or Harassment, (including gender, race, or religion)
• Promissory Note and Forgivable Loan Defense, (sign-on bonuses and others)
• Compensation, Bonus and Commission Claims
• Employment Contract Negotiation
• Severance Package Termination Agreements
• Reporting Requirements for Forms U-4, U-5, & DRPs
• Drafting & Negotiation of Employment Agreements & Policies

FINRA has set out several Key Topics to inform its members and registered persons of their obligations. These include:

Registration Related

Too often, industry professionals miss deadlines or forget to report information required by their U4 or Investment Advisor Disclosure. Internally, brokers also need to ensure that the firm’s books and records are accurate with respect to all the transactions that they are involved with at the firm. Issues can come up when failing to get the right license for activity you are engage in, failing to finish continuing education or failing to update their address or information about judgments and liens. Our top securities regulatory lawyers in New York can apply their extensive knowledge of relevant securities laws, FINRA rules and guidelines to help securities industry employees find appropriate solutions.

Your information is maintained in the Central Registration Depository (“CRD”) and made easily accessible to the public through FINRA’s BrokerCheck. If you receive an unfavorable disclosure, you need to try to expunge it, if you can, as addressed on this site – it is a process that can take months to years.

A top way for trouble to start for people leaving the industry is failing to respond to FINRA 8210 Requests, a sure-fire way to get a public “bar” to membership made public for the rest of your life as a top Google-search item if people look you up. FINRA has 2-year continuing jurisdiction over you, even after you leave the business. The top, skilled securities regulatory law firm, Malecki Law, can get you through this process.

These serious issues are addressed in the following FINRA Key Topics:

• FINRA Key Topic: Individual Registration
• FINRA Key Topic: Qualification Exams
• FINRA Key Topic: Rule 4530 Reporting Requirement
• FINRA Key Topic: Continuing Education
• FINRA Key Topic: Books and Records
• FINRA Key Topic: Customer Account Transfers
• FINRA Key Topic: Customer Information Protection
• FINRA Key Topic: Central Registration Depository
• FINRA Key Topic: Expungement of Customer Dispute Information
• FINRA Key Topic: FINRA Examination and Risk Monitoring Programs
• FINRA Key Topic: Information and Testimony Requests

An ounce of prevention is worth a pound of care. Simply stated, an immediate call can help financial industry employees avoid larger problems from developing later down the road. Initial consultations are free.

Malecki Law extensive experience regularly representing the following securities employees with employment issues, regulatory matters, investigations, and other industry disputes:

Contact Malecki Law today to tell us about your case in a free consultation.

Click here for Significant Securities Industry Employment Cases

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