Herskovits PLLC is a boutique firm with a dedicated focus on the financial services arena. We represent broker-dealers, investment advisors, registered representatives, and other industry participants in a wide variety of securities disputes in court and in various arbitration and mediation settings. Our office is located in New York City, but we can at times provide legal counsel to individuals in Des Moines, Cedar Rapids, Davenport, Sioux City, Iowa City, and numerous other cities in Iowa, 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.
Iowa "Blue Sky Laws"
Although the United States Securities and Exchange Commission (SEC) is the primary regulator and enforcer of the securities laws at the federal level, each state has its own securities laws, known as "Blue Sky" laws. In Iowa, this law is called the Iowa Uniform Securities Act.
The Iowa Securities and Regulated Industries Bureau (the "Bureau") administers and enforces the Iowa Uniform Securities Act. This act was enacted to protect investors from fraudulent activities and to maintain investor confidence in the markets. In order to accomplish these objectives, the Bureau is charged with numerous responsibilities, including: registering securities; licensing broker-dealers, investment advisors, and other industry participants; ensuring that public companies disclose particular information to the public; and educating investors.
Because of the high stakes involved in securities matters, it is prudent to obtain the assistance of an experienced securities attorney to handle these claims. To illustrate, a Financial Industry Regulatory Authority (FINRA) arbitration panel in Des Moines recently awarded Claimants over $136,000 in damages–over $39,000 in compensatory damages, approximately $87,000 in attorneys' fees, almost $10,000 in costs, and interest. [In the Matter of the FINRA Arbitration Between the Prudential Insurance Company of America, Pruco Securities, LLC, and Prudential Insurance Agency, LLC, Claimants, v. Douglas E. Inlay, Respondent (FINRA Arbitration 10-03348, December 14, 2011)].
In the above matter, Claimants asserted numerous causes of action, including misappropriation of trade secrets, breach of fiduciary duty, unfair competition, and intentional interference with actual and prospective economic advantages. They alleged that Respondent sent confidential and proprietary information to Agency One Insurance, a competitor. Moreover, they claimed Respondent requested that his clients at Prudential cancel their current policies for MetLife policies through Agency One Insurance.
Herskovits PLLC Can Help You Navigate Federal and State Securities Laws
If you are involved in a state or federal securities dispute, you should seek the assistance of an experienced securities attorney. At Herskovits PLLC, we have experience in numerous securities matters, and we have handled claims before state and federal courts, as well as in a variety of mediation and arbitration settings. Moreover, our founding partner is a certified arbitrator for FINRA and the National Futures Association, and this experience provides unique insight to our advocacy.
We are located in New York City, but we can represent industry participants in cities nation-wide. If you would like to speak to us about a securities matter, please contact us by calling 212.897.5410. You may also submit a contact form, and one of our attorneys will get back to you as soon as possible.