Securities and Financial Services
The attorneys in Meagher + Geer’s Securities and Financial Services group understand the challenging economic climate and increased regulatory scrutiny faced by professionals in the financial services industry. Our attorneys have extensive experience defending these professionals in court and arbitration proceedings and representing them in regulatory proceedings and investigations. We also counsel firms and individuals on employment matters, and we have significant experience litigating non-competition, trade secret, and other post-employment covenant issues in the financial services industry.
Arbitration — Attorneys in the Securities and Financial Services group represent broker-dealers, registered representatives, and investment advisors in customer disputes before the Financial Industry Regulatory Authority (FINRA, formerly NASD) and other self-regulatory organizations. These cases involve claims of violations of securities laws, rules, and regulations, common law fraud, breach of fiduciary duty, unsuitability, churning, negligence, and due diligence. A significant percentage of our cases in recent years have involved claims of misrepresentation, due diligence, and unsuitability arising from the sale of Regulation D private placement products, including but not limited to Real Estate Investment Trusts (REIT), note, equity, and tenant-in-common (TIC) offerings, and oil and gas programs.
State and Federal Court Litigation — Not all claims against members of the financial services industry are subject to arbitration. Members of our Securities and Financial Services group routinely represent financial planners, investment advisors, insurance companies, agents, and brokers in state and federal court when they are facing claims for acts or omissions in rendering or failing to render professional services.
Regulatory — The attorneys in our Securities and Financial Services group have represented individuals in licensing, investigation, and disciplinary proceedings before state and federal regulators, including the Minnesota Department of Commerce and non-governmental certification entities, including the Certified Financial Planner Board.
Employment Counseling and Litigation — Our attorneys also provide counseling to firms and individuals in recruitment and transition matters. While our Employment group also has extensive experience in these matters, the attorneys in the Securities and Financial Services group have particular knowledge and experience in advising firms and individuals on employment and transition issues unique to the financial services industry, including confidentiality and application of the Gramm-Leach-Bliley Act and Regulation S-P, the “Protocol for Broker Recruiting,” and application of state trade secret and restrictive covenant laws.
In addition to advising firms and individuals on post-employment issues, members of our group appear frequently in state and federal court to move for or defend against motions for temporary restraining orders and injunctive relief on these issues. Our knowledge of issues peculiar to the financial services industry allows us to provide quick, thorough, and efficient representation in these often time-sensitive matters.
Meagher + Geer is approved by many insurance carriers as professional liability panel counsel on either a state or regional basis. We value the relationships and trust that we have built in the professional and insurance communities.
For more information about our Securities and Financial Services practice, please contact Debra Weiss.
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