FINRA Arbitration and Enforcement in 2019 and Beyond: Hot Buttons to Consider
For the past years, the Financial Industry Regulatory Authority’s (FINRA) arbitration process and enforcement trends have undergone significant modifications. Recent and proposed changes are dealing with an array of materially new issues focusing on online distribution platforms, and compliance with FinCEN’s Customer Due Diligence (CDD) rule, as well as with the firm’s mark-up disclosure obligations.
With all the emerging issues, it becomes important for companies and their counsel to be in the know with all the latest trends and developments surrounding this area of law to ensure compliance and obviate potential risks.
In this LIVE Webcast, a seasoned panel of thought leaders and professionals brought together by The Knowledge Group will provide and present to the audience an in-depth analysis of the fundamentals as well as recent developments in FINRA Arbitration and Enforcement. Speakers will also present best practices and key compliance tools in light of the recent developments.
Some of the major topics that will be covered in this course are:
- FINRA Arbitration and Enforcement in the 2019 Landscape
- Legal and Regulatory Outlook
- Recent Trends, Developments, and Updates
- Key Compliance Tools
- What Lies Ahead
Tracey Salmon-Smith, Partner
Drinker Biddle & Reath LLP
- FINRA DR Task Force Recommendation Status Report issued Jan 2019
- Arbitration Statistic
- Regulatory Notice 19-20 – Non-party time to respond
- Expungement – Proposed Changes
- Regulation Best Interest
Debra Jenks, Partner
Jenks & Harvey LLP
- Summary of FINRA’s Risk Monitoring and Examination Priorities Letter dated January 22, 2019 as related to recent FINRA and SEC Releases of Interest.
- Real quick overview of What is FINRA and what Does FINRA do
- 2019’s Focus on Associated Persons with a regulatory history – Hiring Practices and Supervision Programs and FINRA’s Regulatory Notices 18-15 and 19-17;
- FINRA’s MC-400 Membership Continuance Application for dealing with statutorily disqualified persons;
- Sales Practice risks with Outside Business Activities (“OBAs”) and Private Securities Transactions (“PSTs”)
- Sales Practice Risk – Seniors and SEC Press Release dated May 23, 2019 regarding Senior Safe Act.
Rogge Dunn, Partner
Rogge Dunn Group, PC
- What to expect from a FINRA investigation
- Consequences of FINRA finding a compliance violation
- If FINRA alleges a compliance violation, what are your options
- The pros & cons of fighting FINRA attempt to discipline you for an alleged compliance violation
Tracey Salmon-Smith is a partner at Drinker Biddle & Reath LLP in the Commercial Litigation Group/Broker-Dealer Team. Ms. Salmon-Smith represents broker-dealers before the Financial Industry Regulatory Authority (FINRA) in arbitrations and mediations related to allegations of sales practice violations and failure to supervise claims. She also handles regulatory inquires, as well as discrimination, work-place harassment, wrongful discharge, U5 defamation matters, and expungement proceedings. Ms. Salmon-Smith also assists clients in complex commercial disputes, including class and collective actions, and internal investigations. Previously, Ms. Salmon-Smith served as Director and Associate General Counsel at UBS Financial Services Inc., and served seven years as an Assistant United States Attorney for the Eastern District of New York (EDNY).
Tracey Salmon-Smith is a partner at Drinker Biddle & Reath LLP in the Commercial Litigation Group/Broker-Dealer Team. Ms. Salmon-Smith represents …
Ms. Jenks has over 30 years of legal experience representing financial institutions, wirehouses, independent broker-dealers, insured broker-dealers, investment professionals, officers and directors, and financial advisers in retail, industry, and employment disputes as well as in compliance and regulatory matters. She defends registered persons and entities in regulatory matters. She has represented retail and institutional investors in securities matters and arbitration.
Ms. Jenks has over 30 years of legal experience representing financial institutions, wirehouses, independent broker-dealers, insured broker-dealers, investment professionals, officers …
Rogge Dunn is a trial attorney and counselor for Fortune 500 companies, wirehouses and prominent Financial Advisors, executives and entrepreneurs. Dunn has developed a specialty involving significant matters in the financial industry. This includes regulatory issues, wrongful discharge, moving teams, OTRs, non-competes, the Protocol for Broker Recruiting, promissory note defense and forfeiture of deferred compensation.
He has twice set the largest wrongful discharge arbitration award against Goldman Sachs for FAs in California. (Breaking Dunn’s own record). Most recently he obtained a $7.6 million Award against Goldman Sachs in a FINRA arbitration in Los Angeles.
Dunn has won more than $2 billion in judgments and settlements for his clients. He has represented more than 10 FAs in Barron’s national top 100 financial advisors. Dunn has won million dollar jury verdicts or arbitration awards in California, Texas, Louisiana and Arkansas.
Rogge Dunn is a trial attorney and counselor for Fortune 500 companies, wirehouses and prominent Financial Advisors, executives and entrepreneurs. Dunn has …
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Method Of Presentation:
General knowledge of financial industry regulation
NY Category of CLE Credit:
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About Drinker Biddle & Reath LLP
Drinker Biddle & Reath LLP is a national, full-service law firm providing litigation, regulatory and business solutions to public and private corporations, multinational Fortune 100 companies and start-ups. Building on a rich 168-year history, our more than 575 lawyers across 13 offices uphold a reputation for outstanding legal results, bringing a sophisticated, forward-thinking approach to every client engagement. Our attorneys defend clients in industries including financial services, education, health care, insurance, and retail, in arbitrations, litigations, regulatory enforcement matters, and regulatory examinations and in mediations before FINRA, JAMS, AAA, and other fora. Clients trust Drinker Biddle to deliver the counsel and insight needed to win complex litigations, close billion-dollar transactions and stay ahead of evolving regulations.
About Jenks & Harvey LLP
Jenks & Harvey LLP is involved in various aspects of securities arbitration and litigation, broker-dealer compliance, regulatory and enforcement defense, registration matters, and representation of registered persons in retail and employment matters.
About Rogge Dunn Group, PC
We have extensive experience handling a variety of matters across the U.S. in the financial industry space. Indeed, one of our partners, Josh Iacuone, is a licensed FINRA arbitrator. We have taken on and defeated the big firms like Goldman Sachs, BBVA, and UBS.
We transition teams to new firms, handle TROs, fight off non-competes and non-solicits, ensure that the broker recruiting protocol is followed (for signatories), defend against promissory note enforcement, help financial advisors, Branch Managers and financial executives with severance, regulatory issues, letters of education and FINRA investigations. We have a track record of recovering FAs/RMs deferred compensation forfeited by former employers. We assist FAs, Branch Managers and financial executives protect their reputations, handle expungements and the marking and filing of U-4s and U-5s. We have represented more than a dozen of Barron’snational top 100 financial advisors.