Herskovits PLLC is a small firm that provides legal services exclusively to individuals in the financial services industry. We represent clients in a wide-range of securities matters, ranging from securities litigation and arbitration to broker-dealer advisory services. Our office is located in New York City, but we can at times provide legal counsel to individuals in Atlanta, Augusta, Columbus, Savannah, and other cities across Georgia, 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.
"Blue Sky" Securities Regulation in Georgia
The United States Securities and Exchange Commission (SEC) administers and enforces the securities laws at the federal level. It ensures that investors are informed by requiring public companies to disclose particular information to the public. At the local level, on the other hand, states have their own securities laws, known as "Blue Sky" laws, and in Georgia, this law is known as the Georgia Uniform Securities Act. Moreover, each state has its own authority to administer and enforce Blue Sky laws, and in Georgia, the Division of Securities and Business Regulation is charged with this responsibility.
Because Financial Industry Regulatory Authority (FINRA) arbitration proceedings can involve enormous awards, a recent dispute demonstrates the importance of an experienced securities lawyer in these matters. In December of 2011, a FINRA arbitration panel in Atlanta found Deutsche Bank Securities, Inc. liable for $1.66 million in compensatory damages, $1.66 million in punitive damages, $300,000 in attorneys' fees, and interest. [In the Matter of the FINRA Arbitration Between Stephen Colavito, Claimant, v. Deutsche Bank Securities, Inc., Respondent (FINRA Arbitration 10-01557, December 27, 2011)].
In the above case, the panel found that one of Deutsche Bank's managing directors prevented the claimant, another managing director, from doing business with certain institutional clients without consideration of whether the clients were covered by claimant's division. Thus, through its agent, Deutsche Bank blocked this business to get compensation for these customer relationships, and thus, increase its revenue. The panel was ashamed of this behavior, and called the conduct reprehensible.
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 an accomplished securities lawyer. At Herskovits PLLC, our managing partner has handled over 200 FINRA arbitration proceedings with an impressive track record of success. We are a small firm, but our size allows us to avoid the conflicts of interest faced by larger firms and represent investors with substantial claims. In addition, we are able to provide unprecedented client service at affordable and predictable rates.
Although we are located in New York, we can provide client service in cities throughout the country. If you need help with a securities dispute, please feel free to contact us by calling 212.897.5410. You can also fill out a contact form, and we will respond to your inquiry as soon as possible.