Experience

Defense in FINRA Margin Trading Investigation

Defended broker-dealer and its president, compliance officer and registered representative in FINRA investigation concerning margin trading. Investigation was concluded in 2019 without any follow-up or further action by FINRA.

Assisted Fund Client with FINRA Cause Exam

Representation of a fund client with efforts and production related to FINRA cause exam of managing broker-dealer in distribution of fund securities.

Resolved FINRA Enforcement Matter Involving Deceased Customer Account

Assisted individual registered representative with FINRA enforcement matter concerning trading in deceased customer account and resumption of activities following short 30-day suspension.

Counseled Client in Post-SEC Settlement Undertakings

Advised parent company of several affiliated investment advisers in connection with undertakings after SEC settlement and in conjunction with follow-up exemptive order.

SEC Enforcement Investigation of Portfolio Manager

Represented SEC-registered investment adviser sponsoring alternative investments in an investigation led by the SEC's Atlanta office.

SEC Enforcement Investigation of Private Equity Fund Manager

Represented SEC-registered investment adviser to private equity funds in an investigation led by the SEC's New York office in the adviser's valuation practices.

Won Dismissal of Class Action Securities Litigation Alleging Market Manipulation for Brokerage Firm

Represented a brokerage firm in class action securities litigation alleging manipulation of options market. Won motion to dismiss. Affirmed on appeal by the Third Circuit.

Outside Corporate Counsel for Large Independent Broker-Dealer Investment Adviser Firm

Served as outside corporate counsel for large independent broker-dealer investment adviser firm based in the Midwest. Assisted in-house counsel on registration, licensing, product approval, compliance policies, employment matters and state, federal and FINRA regulatory issues.

Representing Broker-Dealers and Registered Representatives in FINRA Arbitration Matters

Representing broker-dealers and their registered representatives in more than 40 FINRA arbitration matters. Multiple matters tried to award in FINRA arbitration and others resolved via mediation and settlement during course of pre-hearing litigation.

Resolved Investigations into Investment Adviser Firm Following SEC, FINRA Actions

Obtained no-action, non-disclosable results in three states on behalf of an investment adviser firm. One East Coast and two Midwest states launched investigations into the firm and its individual representatives following U.S. Securities and Exchange Commission and FINRA actions, but Armstrong Teasdale secured closure of the investigations without further disclosures on the firm's or the individuals' records.

Resolved State Securities Investigation on Behalf of International Broker-Dealer, Banking Clients

Obtained non-disclosable Letter of Caution in state securities investigation on behalf of an international broker-dealer and banking client. The state securities regulator was pursuing a possible failure to supervise and fraud action against the client, but Armstrong Teasdale was successful in resolving the matter with a non-reportable letter of caution.

Defense of Officers, Directors in Securities Investigations

Participated in the defense of former officers and directors of publicly held government support manufacturer in securities investigations by federal and state authorities.

Represented Securities-Licensed Representatives in Multi-State Investigation

Represented four securities-licensed representatives of a securities issuer in a multi-state investigation concerning registration and licensing issues. Secured agreement from involved states to not charge or seek action against the clients.

Successfully Resolved FINRA Matter for Regional Broker-Dealer

Defended regional broker-dealer firm in FINRA sweep related to sale of L-share variable annuities. Resolved matter with no-action and non-disclosable, non-reportable closure letter.

Defended Representatives in Multi-State Investigation of Sales Practices

Defended multiple registered representatives in multi-state investigation of sales practices through a marketing organization. Secured no-action resolution for all represented agents in all states involved on a non-reportable, non-disclosable basis.

Favorable Settlement Agreement for Broker-Dealer in SEC Action

Negotiated favorable settlement agreement on behalf broker-dealer client with U.S. Securities and Exchange Commission, including securing a waiver of disqualification from the SEC Division of Corporate Finance.

Obtained Securities Registration Exemption in Construction of New Mill

Assisted client with obtaining securities registration exemption for Missouri new generation processing entities for purpose of construction of new mill. Worked with Missouri Agricultural and Small Business Development Authority and the Missouri Securities Division to secure the exemption paving the way for capital formation necessary for construction of a new facility.