When you need a securities lawyer, choosing the right one is essential. They will help you navigate the unfamiliar process of pursuing financial compensation from firms or individuals who have committed securities fraud.
The right attorney will also be familiar with the regulations that govern financial professionals, such as FINRA rules. Here are some tips to consider as you start your search:
Qualification
When looking for a securities lawyer, there are specific qualifications you need to look for. You need to make sure that they are reliable and hardworking. You should also find out about their experience and their specialty. If they have a lot of experience, they are likely qualified to handle your case.
Choosing a securities lawyer in NYC with a strong background in federal and state laws governing the financial markets is essential. They should also have a good understanding of the rules and regulations of brokerage firms. In addition, they should have experience representing investors in FINRA arbitrations. The Financial Industry Regulatory Authority (FINRA) hears and decides these arbitrations. These claims often involve allegations of fraud or misconduct by brokers.
A securities attorney can help you file a FINRA arbitration claim and recover any financial losses. They can also represent you in any litigation arising from your investments, such as a class action suit or a lawsuit against your broker for misrepresentations or unsuitable trading practices.
In addition to evaluating the background and experience of a securities lawyer, you should also consider their fees. You should find out whether they charge an hourly or contingency fee rate. A contingency fee means the lawyer will only get paid if you win your case. This is an excellent option for people needing help paying an upfront fee.
Experience
The practice of securities law is complex and highly regulated at the state and federal levels. This specialized area of the law aims to prevent stock fraud, market manipulation, insider training, and other corporate wrongdoing. A reputable securities attorney knows the ins and outs of the field and stays on top of new legislation and regulations that could impact investment cases.
Investors who have lost money due to broker misconduct can file a claim with the Financial Industry Regulatory Authority (FINRA) and recover their losses through a binding arbitration process. An experienced securities attorney will understand these unfamiliar and complex proceedings and advocate on your behalf.
An experienced securities lawyer will also be familiar with various forms of broker misconduct, including unauthorized trading, excessive buying and selling to generate commissions (also known as churning), and other misappropriations of client funds. They will be able to evaluate your case and determine if you have grounds for a lawsuit against your broker for breaching their fiduciary duty.
Choosing the right securities lawyer for your case should not be a decision you take lightly, as it will have significant consequences for your investments and future. You can narrow your options by researching potential candidates, interviewing them, and checking their availability to meet with you. Ideally, your lawyer should be prompt to return calls and emails and have an office location that is convenient for you.
Fees
Securities lawyers can help individuals who have suffered investment losses caused by brokerage firm misconduct or fraud. These attorneys are experienced in the complex and highly specialized rules, laws, and regulations that govern financial investments. They can also assist clients in navigating the often confusing process of filing a claim to recover their financial losses.
When choosing a securities lawyer, it is essential to consider their fee structure. Many attorneys charge a flat fee for their services, while others may work on a contingency basis. This means that they will only get paid if they successfully win compensation for their client.
Another consideration when choosing a securities attorney is their availability. Ensure they have a schedule that works well with yours and are willing to meet at convenient times. Also, pay attention to how quickly they return calls and emails, as this indicates how responsive they will be throughout the case.
If you are filing a claim with FINRA, choosing a securities lawyer with experience representing investors in FINRA arbitration cases is essential. FINRA is the financial industry’s self-regulating organization investigating investor claims alleging broker misconduct and fraud and resolving disputes through binding arbitration. Many investment contracts include arbitration clauses requiring investors to file a claim with FINRA to recover their financial losses.
Reputation
When selecting a securities attorney, you want to work with someone with an excellent reputation. You can learn more about an attorney’s reputation by talking with community members and checking online reviews. Ensuring the lawyer is licensed and in good standing with your state bar association is also essential. This will ensure that they practice law ethically and according to industry standards.
In addition to helping clients with investment fraud claims, securities attorneys often handle transactional work such as mergers and acquisitions. They also assist companies in complying with federal securities laws and regulations that ultimately benefit consumers.
Broker and financial advisor misconduct is a common cause of investment losses for investors. These misconducts include unauthorized trading, excessive buying and selling (churning), unsuitable investment recommendations, breach of fiduciary duty, and market manipulation.
The SEC takes many enforcement actions against individuals and companies violating federal securities laws. Some of the most common enforcement allegations involve insider trading, wherein a company insider or tipper illegally takes advantage of material non-public information to trade in stocks before an announcement. Other allegations involve failure to register securities, sale of unregistered securities, and issuance of stock or securities without registration. In each of these cases, successful prosecution of the federal criminal or civil enforcement claim requires the advice and representation of an experienced securities attorney.
