Securities, FINRA/NASD, and Consumer Complaints

McHenry County Securities Litigation Lawyers

Representation for Securities, FINRA/NASD, and Consumer Complaints in Lake in the Hills and Grayslake

grayslake il securities litigation attorneyWhen a consumer suffers a financial loss and believes it is the result of the negligence of a financial advisor, they are typically required to have their dispute settled through arbitration administered by the Financial Industry Regulatory Agency (FINRA). Employment-related disputes of industry professionals are also often handled through FINRA-administered arbitration. Examples include contract disputes, wrongful termination claims, and claims of failure to pay commissions, bonuses, overtime, etc. If you are involved with a securities, FINRA/NASD, or consumer complaint issue, it is important to have experienced legal counsel on your side to aggressively advocate for your interests.

At Owens & Laughlin LLC, we have experience with securities litigation and FINRA (formerly known as NASD) arbitration in the northern Chicago suburbs. In fact, we are one of the few firms in the area that handles these types of cases. Our attorneys have an in-depth knowledge of this area of the law, and we put our experience to work to give our clients the skilled representation they deserve. We adopt an aggressive, creative, and meticulous approach to each case we handle, and we explore every potential legal avenue for innovative and practical paths to a favorable resolution.

Securities Litigation in Illinois

We represent clients in several types of cases related to securities, FINRA, and consumer complaints. Some of the most common include:

Protocol on Broker-Dealer Recruiting Disputes: Over 1000 firms nationwide are signatories to the Protocol on Broker-Dealer Recruiting (a.k.a. the Protocol). The Protocol was put in place to reduce litigation and ensure smooth transitions for brokers moving from one firm to another. Although the Protocol provides greater freedom for broker movement, it does not clearly define what level of poaching and raiding by competing firms is tolerated. This often leads to disputes that must be litigated with the guidance of an experienced attorney.

U5 and Breach of Promissory Note: The Form U5 is used to terminate the registration of a broker with an organization or within a particular jurisdiction. When a broker leaves a firm, the employer often files an action for breach of promissory note or breach of contract between the broker and the investment firm. These cases can become quite complicated and unpredictable, and a strong legal strategy is required to ensure a positive outcome.

Breach of Fiduciary Duty and Securities Malpractice Claims: Breach of fiduciary duty is among the most common claims filed by a consumer against a wealth advisor/broker in a securities litigation action. Securities malpractice and securities fraud are similar claims that often overlap with a breach of fiduciary duty action, and each stems from the assertion that the broker/advisor acted in bad faith while handling the investments of the consumer.

Securities, FINRA/NASD, and consumer complaints is a complex area of the law. The government and the regulatory agencies that oversee the financial industry continually update their rules and regulations, and because of the frequent updates, the application of the law in specific cases can be difficult to predict. At Owens & Laughlin LLC, we frequently handle securities and FINRA cases, and we work hard to stay up-to-date in this ever-changing area of the law. For a personalized consultation with one of our skilled securities litigation attorneys, contact our office today at 847-854-8700 or 847-752-8537. We serve clients in the northern Chicago suburbs and throughout Illinois including McHenry County and Lake County.

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