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SEC & CFTC Investigations

Securities Regulatory

New York Securities Industry Regulatory Defense / SEC / FINRA Attorneys

SEC & CFTC InvestigationsAs regulators jockey for position and their scrutiny of the financial markets grows ever more aggressive, industry participants need to be proactive and aggressive in their response to inquiries. On behalf of broker-dealers, registered representatives and investment advisers, we provide comprehensive counsel to defend clients facing “sweep” inquiries, investigations and enforcement proceedings, particularly those that involve allegations of market manipulation, insider trading, record-keeping violations, and assorted FINRA rule violations. We regularly appear before FINRA, the SEC, the CFTC, and state agencies. Our founding member’s in-house experience at a registered broker-dealer consistently guides our approach; we are successful when the regulatory scrutiny is concluded without further action and our clients can focus on continued success in their business dealings.

Recent representative matters include:

  • RIA Defense (SEC Administrative Proceeding File No. 3-14296). Successfully resolved all deficiencies stemming from an SEC cycle exam, inclusive of deficiencies noted for riskless principal trading disclosure, Form ADV disclosure and Code of Ethics language.
  • Registered Representative Defense. We are currently engaged to defend a FINRA investigation concerning allegations of commission-sharing with an unregistered person. We have successfully resolved a multitude of FINRA investigations by entering into an Acceptance, Waiver, and Consent, including investigations concerning FINRA Rule 8210 violations, and books and records violations.
  • SRO Sweeps. We are currently engaged to represent a prominent broker-dealer in SRO “sweep” inquiries and investigations concerning trading issues and potential SRO rule violations.
  • Wells Submission. The NYSE intended to charge our client with a variety of sales practice violations in connection with a retail customer. After filing a detailed Wells Submission, with voluminous supporting documentation, the NYSE declined to prosecute our client and the investigation immediately ceased.
  • Issuer Defense. We represented a public company in a complex delisting proceeding before the American Stock Exchange.

SEC Defense Attorneys at Herskovits PLLC in-house experience at a registered broker-dealer consistently guides our approach to SEC & CFTC Investigations.

Client Reviews
I give Rob Herskovits and his law firm my strongest possible recommendation. He expertly guided me through a challenging and highly adversarial FINRA disciplinary hearing. Due largely to Rob's extraordinary efforts, each of FINRA's charges were ultimately dismissed by the hearing panel. It is unusual to beat FINRA on their home court, and I'm grateful to have had Rob by my side. Matt D.
Rob has handled customer matters (mediations and arbitrations) as well as regulatory matters for my firm. He is very knowledgeable about the process, and can explain the details in layman's terms. Rob presented our case very well and achieved successful results in every engagement. Jay
I give Robert my highest recommendation. He and his firm helped me through what could have been an extended and financially troubling time. I am not sure that I could have cleared up a false accusation by a previous client had it not been for Robert and his firm, and for that I am very grateful. Derrick
Rob was great he helped my partner and I last year get two cases removed from our record that had no merit. You know how the firms are they represent themselves and settle we suffer. Rob represents you and he’s great!! Jeremy