Herskovits PLLC is a boutique firm that provides legal services to individuals in the financial services industry. Our attorneys have decades of collective experience, and we can represent clients in a wide range of securities matters before regulatory bodies, state and federal courts, and in various arbitration and mediation settings. We are a small firm, but our size allows us to provide a degree of client service that can be matched by few firms of our size. Our office is located in New York City, but we can at times provide legal counsel to individuals in Burlington, Rutland, Barre, Montpelier, Winooski, and other locations throughout Vermont, 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.
Vermont "Blue Sky" Laws
The United States Securities and Exchange Commission (SEC) was created by the Securities Exchange Act of 1934, and it administers and enforces the securities laws at the federal level. The SEC seeks to encourage capital formation and protect investors from investment fraud and the risks associated with investing in a volatile market. It also oversees the key participants in the financial services industry and has the ability to bring civil enforcement actions against those who commit violations of the securities laws, including insider trading and fraud.
In Vermont, the local securities law is the Vermont Securities Act, and it is administered and enforced by the Vermont Securities Division of the Department of Financial Regulation. The Securities Division registers broker-dealers, investment advisors, and other industry participants who wish to conduct business in the state, and it also encourages individuals to become informed investors to better protect themselves against fraudulent activity. Specifically, the Securities Division has an investor education program that helps promote financial literacy, and there is also a workshop for interested individuals.
Because of the large sums of money involved in securities disputes, as well as the complexity of these transactions, you should seek the assistance of an experienced securities lawyer to handle these claims. For example, in a recent proceeding, a Financial Industry Regulatory Authority (FINRA) arbitration panel in Montpelier awarded Claimant over $400,000 in compensatory damages. [In the Matter of the FINRA Arbitration Between Wachovia Securities, LLC, Claimant, v. RBC Capital Markets Corporation, Daniel Otis Bushey, Jr., and Katherine Warner Traver, Respondents (FINRA Arbitration 09-00524, November 26, 2012)].
In the above matter, Claimant alleged breach of contract, breach of fiduciary duty, breach of the duty of loyalty, unfair methods of competition, and intentional interference with business relationships. After a hearing, the panel held RBC Capital Markets Corporation and Mr. Bushey jointly and severally liable for $271,182 and RBC Capital Markets Corporation and Ms. Traver jointly and severally liable for $147,286.
Herskovits PLLC Can Help You Navigate Federal and State Securities Laws
If you are involved in a securities dispute, you should seek the assistance of a knowledgeable and experienced attorney. At Herskovits PLLC, our dedicated focus on the financial services arena has provided us with experience in a wide range of securities matters. Moreover, our managing partner has handled over 200 FINRA arbitrations with an impressive record of success in the matters that have been tried to verdict.
We are located in New York, but we can provide legal assistance to individuals in cities nationwide. If you would like to speak to us about 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 we will promptly respond to your inquiry.