Moore Friedman LLP

Moore Friedman has considerable experience handling financial industry litigation for broker-dealers, banks, future commission merchants, hedge funds, corporate and individual investors and service providers, as both attorneys for institutional defendants and investor plaintiffs. We have represented leading financial institutions in numerous FINRA arbitrations arising from disputes with customers and employees, taking many of them to hearing.

Moore Friedman relies on its deep market knowledge and investigative experience to defend banks, broker-dealers, future commission merchants and industry professionals in investigations and enforcement proceedings brought by regulatory agencies such as the SEC, FINRA, CFTC, and NFA.

When investigations or enforcement proceedings loom, we leverage our extensive experience to build powerful, proactive defenses on behalf of both companies and individuals.

When regulators cannot be persuaded that no violations have occurred, we stand ready to negotiate a practical settlement or vigorously defend our clients, in both court and administrative proceedings.

Experience

Litigation

  • Obtained dismissal or favorable settlements on behalf of a leading prime-broker in several industrywide matters in state and federal court lawsuits related to alleged naked short selling seeking billions in damages.
  • On behalf of a leading financial institution, removed arbitration to state court and obtained complete dismissal of $50 million claim brought by a customer alleging misrepresentation of the appropriateness of an investment.
  • On eve of trial, secured settlement for special servicer and trustee for full repayment of all principal and interest, and substantial fees, on defaulted $50 million loan.
  • Achieved favorable settlement for plaintiffs, the trustee for a securitized pool of student loans and a mono-line insurer, in a matter in federal court seeking to enforce credit risk insurance policies issued by another insurer.
  • Obtained dismissal of several federal lawsuits alleging violations of federal and state securities laws by a major clearing broker related to short sales of convertible securities.
  • Representation of a plaintiff hedge fund in a case in Delaware Chancery Court claiming breach of contract and breach of fiduciary duty by a company in which the hedge fund made an investment.
  • Counseled individual investor in dispute with an investment advisor.
  • Conducted several internal investigations for banks, broker-dealers and FCMs related to allegations of potential regulatory violations and/or violations of company policy.
  • Defended broker-dealer in 92-day FINRA customer arbitration related to the sale of a complex derivative product.
  • Achieved favorable result in a multi-claimant FINRA arbitration related to the sale of variable annuities and settled several related cases.
  • Multiple representations of a large broker-dealer in FINRA arbitrations regarding alleged sales practice violations, including suitability and churning, and failure to supervise.
  • Representation of a midsize broker-dealer in a FINRA arbitration brought by a hedge fund concerning losses from a leveraged options trading strategy.
  • Multiple representations of a clearing broker in several FINRA arbitrations brought by customers of its introducing brokers.
  • Several representations of clearing brokers in FINRA arbitrations with former introducing firms related to the deconversion of the introducing firm.
  • Defended an FCM in an NFA customer arbitration regarding alleged breach of contract, fraud, unauthorized trading and failure to supervise.
  • Advised individual Directors named in multiple federal class actions after the collapse of an off-shore insurance company due to allegedly improperly risky investments by CEO.
  • Opposed claimed failures to disclose material information in connection with the sale and purchase of REITs.
  • Defended individual in SEC investigation alleging a failure to disclose his beneficial interest in a public company.
  • Defeated federal claims of steering allocations in IPOs to artificially prop up offering price.

Regulatory Matters

  • FINRA & SEC investigation of a major retail and institutional broker-dealer’s email retention practices.
  • FINRA investigation of a retail broker-dealer’s email retention practices.
  • SEC investigation of a major broker-dealer’s alternative trading system.
  • FINRA investigation of a major broker-dealer’s alternative trading system.
  • FINRA investigation of a major broker-dealer’s compliance with rules regarding the sale of municipal securities.
  • FINRA investigation of a mid-size broker-dealer’s compliance with Regulation SHO and policies and procedures regarding electronic market access.
  • CFTC investigation of a leading national bank’s segregated accounts.
  • CFTC investigation of a major future commission merchant’s large trader reporting.
  • CFTC investigation of a future commission merchant’s swap trading practices.
  • CFTC & NFA investigation of a swap dealer’s trade reporting.
  • CFTC & NFA investigation of a swap dealer’s record retention.
  • CFTC investigation of leading future commission merchant’s commodity index activities.
  • Representation of major bank in multiple NY AG investigations.
  • Representation of an individual executive in connection with a NFA regulatory proceeding and her withdrawal of registration.
  • Representation of firms and individuals in several investigations by exchanges for alleged rule violations.
  • Provided guidance to broker-dealers, future commission merchants and other market participants on regulatory and compliance matters.