Herskovits PLLC represents broker-dealers, investment advisors, registered representatives, and other participants in the financial services industry. We provide various legal services, including dispute representation in court, arbitration proceedings, and investigation and enforcement proceedings, as well as broker-dealer advisory services. Our office is located in New York City, but we can at times provide legal counsel to individuals in Kansas City, St. Louis, Springfield, Independence, Columbia, and other parts of Missouri, subject to admission pro hac vice. We are licensed to practice law in New York only and this webpage is for general informational purposes only.
Missouri "Blue Sky" Laws
Although the United States Securities and Exchange Commission (SEC) administers and enforces the securities laws at the federal level, each state has its own securities laws, known as "Blue Sky" laws. In Missouri, this law is known as the Missouri Uniform Securities Act. The Missouri Securities Division ensures that securities, investment advisors, broker-dealers, and registered representatives are registered in the state, and it also investigates alleged violations of the securities laws. The enforcement unit of the Securities Division receives approximately three hundred complaints each year.
Because of the complexity of the securities laws and the enormous awards possible in securities disputes, it is prudent to obtain the assistance of an accomplished securities attorney to handle these matters. For example, a Financial Industry Regulatory Authority (FINRA) arbitration panel in Kansas City recently awarded Claimants over $272,000 in compensatory damages plus interest. [ In the Matter of the FINRA Arbitration Between Jack F. Wylle et al., Claimants, v. Morgan Stanley Smith Barney, Respondent (FINRA Arbitration 10-03498, August 23, 2012)].
Claimants asserted numerous causes of action, including breach of fiduciary duty, violation of applicable securities laws, breach of contract, and breach of industry practices. They alleged that Respondent recommended to invest all their holdings into various equities, and that this investment was unsuitable for them given their age. Moreover, Respondent allegedly failed to intervene or recommend alternative investments once the equities market declined. After considering the matter, the arbitration panel found in favor of Claimants and awarded compensatory damages.
Herskovits PLLC Can Help You Navigate Federal and State Securities Laws
If you are a participant in the financial services industry and are involved in a state or federal securities dispute, you should seek the assistance of a skilled securities lawyer. At Herskovits PLLC, we have experience in numerous securities matters, including litigation and regulatory enforcement. Moreover, our small size allows us to avoid the conflicts of interest faced by large firms and represent clients with substantial claims. It also allows us to provide the highest degree of client service at affordable and predictable rates.
Although we are located in New York, we can represent industry participants in cities across the nation. If you would like to obtain our assistance or find out more about our practice areas, please feel free to contact us at 212.897.5410. You can also fill out our contact form, and we will promptly respond to your inquiry.