Herskovits PLLC is a small firm located in New York City. We represent participants in the financial services industry, and we have experience before state and federal courts, as well as in a variety of arbitration and mediation settings. Because of our size, we are able to provide unmatched client service at affordable and predictable rates. Our office is located in New York City, but we can at times provide legal counsel to individuals in Phoenix, Tucson, Mesa, and other cities in Arizona, 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.
Arizona "Blue Sky" Laws
The United States Securities and Exchange Commission (SEC) is the agency that administers and enforces the securities laws at the federal level, including the Securities Act of 1933 and the Securities Exchange Act of 1934. The SEC seeks to protect investors by requiring public companies to disclose particular information to the public. It also oversees key participants in the financial services industry, such as investment advisors, mutual funds, and broker-dealers. Moreover, the SEC may bring enforcement actions for violations of the securities laws.
At the local level, each state has its own securities laws, known as "Blue Sky" laws. In Arizona, this law is the Securities Act of Arizona. The Arizona Securities Division administers and enforces the Securities Act and is responsible for the registration and oversight of securities, securities dealers, and investment advisors. Furthermore, it ensures that full disclosure is made to potential investors by reviewing prospective offerings. When there is an alleged violation of the securities laws, it may initiate a civil or criminal enforcement action.
Because of an arbitration panel's ability to issue substantial awards, it is advisable to seek the assistance of an accomplished securities attorney. For example, a recent Financial Industry Regulatory Authority (FINRA) arbitration panel in Phoenix awarded Claimants over $500,000 for indebtedness on promissory notes. [In the Matter of the FINRA Arbitration Between Morgan Stanley Smith Barney and Morgan Stanley Smith Barney FA Notes Holdings, LLC, Claimants, v. Robert W. Hathaway, Respondent (FINRA Arbitration 12-00438, June 29, 2012)].
In the above case, Claimants alleged that Respondent, a registered representative, was in breach of two promissory notes executed while he was employed by Morgan Stanley Smith Barney. Repayments on both notes were accelerated upon Respondent's employment termination, and Claimants demanded repayment. A sole arbitrator held that Respondent was liable for the indebtedness and awarded Claimants the principal balance plus interest.
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 federal or state securities matter, you should seek the assistance of a knowledgeable and experienced securities attorney. Herskovits PLLC has the ability and skill to handle your case, and our managing partner has handled over 200 FINRA arbitrations with an impressive track record of success in the matters that have been tried to verdict. Moreover, our small size allows us to avoid the conflicts of interest faced by larger firms and represent clients with numerous claims.
Although we are located in New York, we can represent clients from states across the country. If you would like to speak to us about a securities matter or find out more about our services, please feel free to contact us at 212.897.5410. You may also fill out our contact form, and we will promptly respond to your inquiry.