Securities Litigation and Arbitration

Reif Law Group, P.C. represents the securities and financial services industries in all types disputes, litigation and regulatory matters. We handle customer disputes, industry disputes, regulatory actions, vendor and sponsor disputes and insurance coverage disputes, to name a few. We also offer advisory and counseling services with respect to issues that create liability risks for our clients and their customers.

Customer Disputes

We have extensive experience representing financial institutions and its affiliates, banks, investment advisory firms, brokerage firms, insurance agencies and securities-licensed individuals and businesses in a wide variety of financial services disputes including:

  • Federal and state securities, banking, corporate and insurance laws
  • Breach of fiduciary duty and constructive fraud
  • Unsuitability and over-concentration
  • Churning and active trading
  • Supervision and control person liability
  • Selling away, private securities transactions and outside business activities
  • Misrepresentations, omissions and fraud
  • Unauthorized transactions, embezzlement and theft
  • Forgeries and impersonations
  • Investment product failures or misconduct
  • Unlicensed and unregistered securities activities
  • Portfolio mismanagement and well-managed account theories
  • Senior citizen (elder) abuse and undue influence

Our experience includes individual and grouped customer disputes, shareholder and partnership actions, class actions, stock and stock option disputes, ERISA litigation and complex insurance and estate planning disputes.

Industry Disputes

RLG’s attorneys have a deep understanding of the securities industry rules and norms and represent securities industry professionals in all types of disputes, arbitration and litigation matters. We handle disputes between FINRA member firms, between member firms and associated persons, and between associated persons.
Disputes often arise when remarks made by a member firm to securities regulators regarding former employees or independent contractors are interpreted as defamatory, libelous or retaliatory. RLG’s attorneys have extensive experience defending the U5, IARD and ADV disclosure remarks as well as prosecuting expungement and defamation actions, depending on the facts and circumstances.

RLG’s attorneys also assist clients with a variety of other industry disputes, including Broker Protocol and non-Protocol transitions, data breach and privacy policy violations, unpaid compensation, commissions splits/allocations and disputes regarding independent contractor classification. Please visit our Business Disruption Disputes and Workplace Disputes and Discrimination links for additional information.

RLG’s attorneys also prosecute and defend business disputes for our financial services clients involving vendors and service providers, including software companies, landlords, custodians, trustees, clearing firms, issuers, sponsors, promoters, marketers, administrators, underwriters, insurers, competitors and ex-employees and agents, among others.

Regulatory Disputes

RLG represents its clients in government and self-regulatory investigations and enforcement actions, including parallel proceedings where disputes and government or regulator actions co-exist. Representative adversaries include:

  • Financial Industry Regulatory Authority (FINRA)
  • United States Securities and Exchange Commission (SEC)
  • Commodities Futures Trading Commission (CFTC)
  • National Futures Association (NFA)
  • United States Attorneys’ Office (USA)
  • United States Department of Justice (DOJ)
  • Certified Financial Planning Board (CFP)
  • California Department of Justice
  • California Department of Business Oversight
  • California Department of Insurance
  • California Department of Real Estate
  • State attorneys general and securities regulators in various states

Some of RLG’s best results have been achieved by convincing the regulators to not pursue charges or a public censure with our clients. In situations where a public censure is unavoidable, RLG’s attorneys have a deep understanding of the regulatory rules and practices to help craft a suitable outcome for our clients.

Advice and Counseling

RLG advises broker-dealers, banks, insurance companies, insurance agencies and investment advisers with respect to a wide array of legal, regulatory and compliance issues. Our assignments include assisting clients with regulatory examinations, internal investigations, for-cause and “sweep” inquiries and other regulatory issues. We assist clients with pre-lawsuit/arbitration complaints and investigations. We advise clients with respect to suspicious activities such as wire and mail fraud, senior/elder abuse, money laundering, privacy policy violations and various other scams and situations that pose a risk to our clients and their customers. We advise clients with respect to Form U5, IARD and ADV disclosures as well.

RLG’s attorneys negotiate and revise vendor and sponsor contracts to ensure our clients’ rights are protected and their remedies for breach are maximized. Examples of our recent vendor contract work include prohibiting non-domestic (overseas) back-up data storage, prohibiting the use of sub-contractors, strengthening data privacy policies and augmenting remedies for breach of contract.

Insurance Coverage Disputes

RLG’s attorneys help business and individual policyholders resolve insurance coverage disputes through negotiation and litigation. RLG’s attorneys have a strong background in financial institution insurance policies, exclusions and industry standards. We sometimes interface with our clients throughout the life cycle of an insurance claim, including the tender/submission of a claim, handling the defense and negotiating our clients’ rights under the insurance policy. These disputes involve many types of insurance policies, including commercial general liability, directors and officers, errors and omissions, employment practices, fidelity/crime and cyber risks.