Broker-Dealer Enforcement Defense

Bressler is a leader in defending its clients in securities industry regulatory investigations and disciplinary proceedings.  As securities regulators have become increasingly aggressive in bringing cases and in seeking steeper sanctions, it is more important than ever for regulated entities and persons to retain experienced, expert legal counsel.

We have successfully defended numerous investigations and disciplinary proceedings before the SEC, FINRA, CFTC, NFA and state securities regulators.  Some law firms treat these matters as purely defensive exercises in which they and their clients spend most of the time back on their heels.  Although regulatory investigations, by definition, require defensive action, we try to increase our clients’ likelihood of success by working closely from the inception of the investigation to develop and present strategies and themes designed to achieve the best possible result. 

Another key to our successful defense of investigations is to demonstrate to the regulators that Bressler and our client are cooperative and working in good faith to respond to the regulators’ reasonable requests, while pushing back when appropriate.  The fact that we have developed excellent relationships with many regulators over the years helps facilitate this process.  Finally, although our first goal is always to have an investigation closed without action, and a distant second is a reasonable settlement, when necessary we have successfully tried disciplinary proceedings.           

Bressler has achieved excellent results in defending regulatory investigations.  Our success has encompassed a broad spectrum of alleged issues, including:

  • Sales practices
  • Supervision
  • Selling away and undisclosed outside business activities
  • AML
  • Insider trading
  • Prospectus delivery
  • Email supervision and retention
  • Market manipulation, front-running and other alleged trading abuses
  • Trade reporting and other issues involving compliance with trading rules
  • Regulation SHO and other short sale issues
  • Net capital and customer financial responsibility rules
  • Gifts and gratuities
  • Forms U4/U5 and BD regulatory reporting