Choosing a securities law attorney should not be a difficult process, but it also should be one in which you do not glaze over. You need to make an informed choice and one that sees you interview or meet with multiple attorneys before making your decision. Your investments are important to your future. You want to choose an attorney who knows the law and will fight for your rights.
Saving and investing money, whether you intended it for retirement, a nest egg or your child's education, is a smart financial move. Investing often means taking a risk with that capital in order to earn a high rate of return. Unfortunately, the unprofessional behaviors of others can impact the value of your savings or investments.
Are you a financial adviser who is thinking about leaving your current broker-dealer and moving on with your clients in tow? Maybe you want to go independent -- or maybe you just want to work somewhere else, under a different mantle?
People who are involved in handling client investments know that there are often some complex elements associated with these duties. Trying to ensure that you are always in compliance with applicable laws and regulations can be complicated. There may be times when you need to answer for your actions to the Kentucky Department of Financial Institutions, Colorado Division of Securities, New York Stock Exchange, Financial Industry Regulatory Authority or U.S. Securities and Exchange Commission. In some cases, courts might also be involved.
Securities attorneys play an important role for both individuals and companies. Anyone can hire a securities attorney, but what are the benefits of doing so? We will explore the benefits of hiring such an attorney so you can make an informed decision.
Securities laws are very strict, and that is for the protection of the investors. Brokers and others who are involved in the industry must ensure that they are acting in their clients' best interests and not trying to further their own gains.
One of the reasons people let financial planners manage their investment portfolio is because they believe that they're trustworthy as they're licensed by the state. They often belong to professional organizations that have high ethical standards that they must meet as well. There are always bad apples in the bunch, though. If they take certain courses of action or exhibit questionable practices, you may want to reconsider your decision to work with them.
Laws related to investments and securities must be complied with to protect the investors and to keep the brokers honest. When the laws aren't followed, the brokers may face criminal action and the investors are left to try to pick up the financial pieces.
Carlos Benavidez, Jr. (CRD #5013554, Louisville, Kentucky) submitted an AWC in which he was fined $10,000 and suspended from association with any FINRA member in any capacity for two months. Without admitting or denying the findings, Benavidez consented to the sanctions and to the entry of findings that he exercised discretion in effecting hundreds of securities transactions in customers' accounts without obtaining the customers' prior written authorization or his firm's prior written approval.
Can you imagine suffering from investment fraud, going through the motions to pursue a successful securities arbitration claim against the brokerage firm that defrauded you and then never getting paid after receiving a favorable arbitration award?