Herskovits PLLC is a small firm that represents investment advisors, registered representatives, broker-dealers, and other participants in the financial services industry. We have advised clients in a broad range of securities matters, and our attorneys have decades of collective experience. Our office is located in New York City, but we can at times provide legal counsel to individuals in Salt Lake City, West Valley City, Provo, West Jordan, Orem, and various other cities throughout Utah, 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.
Utah "Blue Sky" Laws
The United States Securities and Exchange Commission (SEC) administers and enforces the federal securities laws, including the Securities Act of 1933, the Securities Exchange Act of 1934, and the Sarbanes-Oxley Act of 2002. One of the SEC's principal objectives is to protect investors, and to achieve this goal, it seeks to provide individuals with accurate and timely investment information, thereby providing investors with enough financial information to make informed decisions.
At the local level, each state has enacted its own securities laws, known as "Blue Sky" laws, and in Utah, the law is called the Utah Uniform Securities Act because it is based off the Uniform Securities Act, a model statute that was implemented to assist states with adopting their own securities laws and to encourage uniform laws in this area. The Utah Department of Commerce's Division of Securities (the "Division") administers and enforces the Utah Uniform Securities Act, and the Licensing and Compliance section processes applications for investment advisors, registered representatives, broker-dealers, and other industry participants. It also investigates complaints that are filed with the Division.
Arbitration panels often issue substantial awards in securities disputes, and consequently, it is advisable to seek the representation of an accomplished securities lawyer to handle these matters. For example, a Financial Industry Regulatory Authority (FINRA) arbitration panel in Salt Lake City recently awarded Claimant over $260,000 in damages, which included attorneys' fees, costs, accrued interest, and the principal balance due under the terms of the promissory note. In the Matter of the FINRA Arbitration Between Wachovia Securities, LLC n/k/a Wells Fargo Advisors, LLC, Claimant, v. Martin Johanne vanAmen, Respondent (FINRA Arbitration 09-00110, August 11, 2010)].
In the above matter, Wachovia alleged that Respondent was liable for damages under a settlement agreement, interest on the principal amount, attorneys' fees, and all costs incurred in collecting the amounts due. After a hearing, the arbitration panel held in favor of Wachovia.
Herskovits PLLC Can Help You Navigate Federal and State Securities Laws
If you are involved in a state or federal securities dispute, you should contact an experienced securities lawyer. With a dedicated focus on the financial services industry, Herskovits PLLC has the knowledge and skill to handle your case, and we have experience before state and federal courts, regulatory bodies, and in a wide range of arbitration and mediation settings.
We are a New York law firm, but we can represent clients throughout the country. If you would like to obtain assistance with a securities matter or find out more about our services, please contact us at 212.897.5410. You may also submit a contact form, and one of our attorneys will get back to you as soon as possible.