Representing the Firm/Broker

Wilchins Cosentino & Novins’ experienced financial services litigators have a proven track record of successfully prosecuting cases representing securities and investment firms and financial advisors across the country.

The combination of our extensive knowledge of the investment community, experience in securities and fierce determination to advocate sets us apart from other law firms.

Working With Firms and Investment Advisors

The litigation attorneys at Wilchins Cosentino & Novins have extensive experience representing firms and investment advisors. We have a unique understanding of the complexities of securities arbitration, mediation, regulation and financial services litigation.

Our financial services litigation practice includes broker-dealer disputes, defending financial services professionals against customer-initiated claims, securities litigation, restrictive covenant litigation, expungement and regulatory and compliance matters.

Broker-Dealer Disputes

For almost thirty years, the securities litigation attorneys at Wilchins Cosentino & Novins have represented both securities firms and individual financial advisors in disputes before FINRA and the American Arbitration Association, building a wealth of experience defending against disciplinary actions both for brokers and broker-dealers accused of violating FINRA and SEC rules.

The securities attorneys at the firm help registered representatives navigate through FINRA arbitration, the FINRA enforcement process and the arbitration process. We also represent broker-dealers, financial advisors and other entities in litigations and arbitrations concerning sales practices violations and other various broker-dealer disputes throughout the United States.

Customer Initiated Claims

Wilchins Cosentino & Novins successfully defends firms and individual investment advisors in the securities industry against various customer claims such as claims made by customers for investment losses, including claims alleging breach of contract, breach of fiduciary, unauthorized trading, failure to supervise, investment fraud, misrepresentation and churning.

The financial services litigation attorneys at Wilchins Cosentino & Novins handle claims involving a variety of investment products, fee-based accounts, equities, bonds, mutual funds, options and variable and fixed annuities.

Securities Attorneys

The securities attorneys at Wilchins Cosentino & Novins represent clients throughout the industry. Whether your dispute arises in a traditional brokerage firm relationship or through private banking and wealth management at full-service financial institutions, the securities attorneys at WCN can help resolve issues involving investment clients and current or former employees.

Our attorneys have substantial experience in securities litigation, with an emphasis on disputes involving broker-dealers, registered representatives, investment advisors and financial planners. As securities fraud and investment fraud attorneys, we have extensive experience in complex litigation and thorough knowledge of both securities law and the investment community.

In our financial services litigation practice, we often represent investment professionals, advisors and their managers in compliance examinations, investigations, administrative proceedings and enforcement actions brought by regulatory bodies including the SEC, FINRA and state securities agencies.

The firm’s securities litigation experience includes substantial work in the following areas:

• defending against claims asserted by institutional and retail customers, such as those alleging securities or investment fraud, misrepresentation, unauthorized exercise of discretion, churning, unsuitability, failure to supervise, improper margin calls and unfair securities liquidations.
• appearing in investment-related arbitrations administered by FINRA and the American Arbitration Association.
• representing financial advisors in FINRA enforcement actions; internal investigations relating to potential legal/compliance issues; defense of investor claims of fraud and misrepresentation and other violations of securities laws.
• representing firms in a wide range of civil disputes. We have represented our clients in these disputes in Federal and State courts around the country, as well as arbitration sponsored by self-regulatory organizations including FINRA.

Wilchins Cosentino & Novins handles securities and financial services matters before FINRA, SEC and state regulators involving various subject matters, including:

• Fee-based brokerage accounts
• Supervision
• Market timing of mutual funds and variable annuities
• Mark-ups
• Market manipulation
• Sales practices relating to variable annuities
• Options trading and supervision
• Investment advisor services

Restrictive Covenant Litigation

Wilchins Cosentino & Novins represents financial institutions and employees in non-competition, non-solicitation, employee raiding, litigation and arbitration matters including arbitration of broker/dealer registered representative disputes before FINRA.

We routinely represent both member firms and registered representatives nationally and throughout New England, in injunction hearings in federal and state courts.

Expungement

When a customer files a claim against a financial advisor, in most cases, that claim is recorded in the Financial Industry Regulatory Authority’s (FINRA’s) Central Registration Depository (CRD) and BrokerCheck website. FINRA requires disclosure of any consumer-initiated, investment-related arbitrations and civil litigation proceedings. These records persist in CRD and BrokerCheck permanently. Even if the claim is frivolous, the mere allegation of wrongdoing by a financial advisor can have negative consequences that last well beyond the arbitration or civil proceeding. Most potential customers research a financial advisor before retaining their services. If negative comments exist, most potential customers will look elsewhere for a financial advisor.

The most effective remedy is to eliminate customer claims from your record. If a financial advisor is able to meet the requirements for expungement, which are set forth in the FINRA rules, a successful expungement request removes the dispute from both the financial advisor’s CRD and BrokerCheck record. Wilchins Cosentino & Novins has obtained numerous orders on behalf of registered representatives, requiring the expungement of information on Form U-5.

Regulatory and Compliance

Wilchins Cosentino & Novins represents firms in the financial services industry and their officers, directors and employees in regulatory examinations, investigations and enforcement actions by federal, state and SRO regulators. In addition to representing clients with respect to investigations, the regulatory and compliance attorneys at the firm advise clients with regard to compliance-related matters, such as questions relating to supervision, books-and-records maintenance, Form U-4 and U-5 filings, and customer privacy. We also represent advisory firms and their personnel in employment disputes, including violations of non-competition and non-solicitation agreements and claims of defamation on Form U-5 filings.