FINRA (the Financial Industry Regulatory Authority) provides the exclusive forum for the arbitration of disputes that arise between a customer and his or her securities brokerage firm. Such disputes are the subject of mandatory arbitration provisions that exist in nearly all brokerage account-opening agreements. By providing a detailed explanation of the FINRA arbitration process and its central components, attorneys Kevin Galbraith and Michael Giarrusso offer viewers professional insight and perspective on a range of issues, including vetting a potential case, preparing and filing a Statement of Claim, and shepherding that claim through the discovery process and to a merits hearing or a negotiated settlement.
In addition, they will offer insight into some recent trends in securities arbitration through a discussion of cases involving non-traded REITS and financial elder abuse.
Michael Giarrusso’s practice is primarily focused on representing aggrieved investors who have sustained considerable losses due to the negligence or malfeasance of their financial advisor and/or brokerage firm. While many of these claims are brought in FINRA arbitration, Mr. Giarrusso also represents investors in various state and federal courts. In addition, part of his practice is devoted to class action litigation, shareholder derivative suits, as well as commodities and futures disputes before the National Futures Association (“NFA”).
Mr. Giarrusso possesses a broad based knowledge of the brokerage industry, high net worth margin lending, complex financial products, investing and risk management. He is a graduate of Princeton University and Syracuse University College of Law. He is admitted to practice in New York and New Jersey, as well as the District Court of New Jersey and the Southern District of New York.
Prior to founding his firm, Mr. Galbraith practiced at a prominent securities arbitration and litigation boutique firm. There, he worked on cutting-edge cases representing both individual investors in arbitrations against their brokerage firms as well as large classes of investors who were harmed by corporate misconduct such as the London Whale trading fiasco at JP Morgan Chase and Citigroup’s subprime CDO fraud.
He won both the first and the largest arbitration awards against UBS Financial Services concerning their fraudulent marketing of so-called “100% Principal Protection Notes” issued by Lehman Brothers. He also helped secure two multi-million-dollar settlements on behalf of victims of notorious Ponzi schemers and sizeable awards on behalf of investors suffering losses due to unsuitable recommendations, failure to supervise and account churning.
Earlier in his career, Mr. Galbraith was associated with two prominent national and international law firms in New York. At Cooley (formerly Kronish Lieb Weiner & Hellman), his practice centered on white-collar criminal and defense, civil litigation and advising clients on how to navigate criminal and regulatory inquiries concerning their business practices. At DLA Piper, Mr. Galbraith maintained his practice in these same areas. He also defended corporations that were the subject of federal securities class actions.
Excellent update, as usual from Lawline
Very appropriate to my practice
The presentations were well done. The material was understandable.
Best webcast I have attended.
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Extremely knowledgeable presenters. Excellent!
Well presented course.
Excellent and informative presenters!
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