Criminal Defense Lawyers

FINRA Defense for Registered Representatives

FINRA Defense: What Every Registered Rep Needs to Know

So, you‘re a registered rep and you just got slapped with a FINRA investigation or enforcement action. Your heart sinks, your mind races – “What did I do wrong? How bad is this going to get?” Take a deep breath. We’re here to walk you through exactly what this means, and how to protect yourself.First thing‘s first, being targeted by FINRA is a big deal. But, it doesn‘t automatically mean you’re guilty or that your career is over. With the right defense strategy, you can fight back and clear your name.At Spodek Law Group, we’ve handled countless FINRA cases for registered reps just like you. We know this process inside and out. And we’re here to be your watchdog every step of the way.

Understanding FINRA’s Priorities and Powers

FINRA is the watchdog for the securities industry. Their mission? To protect investors by ensuring brokers and firms follow all the rules.1Some of FINRA’s top enforcement priorities include:1

• Getting restitution for investors who were harmed
• Kicking brokers engaged in fraud or repeated violations out of the industry
• Protecting seniors and vulnerable investors
• Maintaining market integrity

Basically, if FINRA thinks you screwed over investors or broke major rules, you’re in their crosshairs. Even technical violations like poor recordkeeping or supervision can land you in hot water.1Here’s the kicker – FINRA has broad powers to investigate, charge, and sanction you. We’re talking potential fines, suspensions, being barred from the industry, even referring cases to the SEC for civil or criminal charges.1So yeah, not something to take lightly. Which brings us to…

Building Your FINRA Defense Game Plan

The second that FINRA inquiry or complaint hits your desk, it’s time to go into lockdown mode with an experienced legal team. At Spodek Law Group, we hit the ground running with a full-scale internal risk assessment.4We dig deep into every aspect of your case under attorney-client privilege. That way, nothing incriminating gets out, but we know exactly what we’re dealing with.4From there, it’s a matter of evaluating the allegations piece-by-piece:

• Are the factual claims against you legit, or is the evidence flimsy?4
• Do the allegations even constitute a legal violation that warrants charges?4
• What’s the risk of this spiraling into an SEC investigation or criminal case down the line?4

Armed with that analysis, we can start mapping out a comprehensive, unified defense strategy tailored to your specific situation.14 Maybe we can demonstrate your full compliance and get FINRA to back off.1 Maybe we need to surgically dismantle certain allegations while conceding others.4 Or maybe we’re gearing up for a full-scale war over bogus charges.4The key is using a scalpel, not a sledgehammer. We don‘t just throw every defense at the wall and hope something sticks. We carefully select the strongest angles to maximize your odds of the best possible outcome.14And we always keep one eye on the future – is there any risk this could trigger a customer arbitration claim? Collateral SEC charges? We plan our defenses accordingly.4

Navigating Key FINRA Enforcement Stages

So what might your FINRA defense journey look like? It could involve any or all of the following stages:

1) Responding to the Initial InquiryMaybe FINRA sent you a letter or subpoena asking for documents or testimony related to their investigation. Don’t spin your wheels trying to go it alone – get a defense team involved ASAP.14We’ll guide you on what to provide, what to hold back, and how to handle those initial requests to lay the groundwork for your defense. One misstep here could tank your whole case.4

Christine Twomey

2024-03-21

Just had my Divorce case settled 2 months ago after having a horrible experience with another firm. I couldn’t be happier with Claire Banks and Elizabeth Garvey with their outstanding professionalism in doing so with Spodek Law Group. Any time I needed questions answered they were always prompt in doing so with all my uncertainties after 30 yrs of marriage.I feel from the bottom of my heart you will NOT be disappointed with either one. Thanks a million.

Brendan huisman

2024-03-18

Alex Zhik contacted me almost immediately when I reached out to Spodek for a consultation and was able to effectively communicate the path forward/consequences of my legal issue. I immediately agreed to hire Alex for his services and did not regret my choice. He was able to cover my case in court (with 1 day notice) and not only was he able to push my case down, he carefully negotiated a dismissal of the charge altogether. I highly recommend Spodek, and more specifically, Alex Zhik for all of your legal issues. Thanks guys!

Guerline Menard

2024-03-18

Thanks again Spodek law firm, particularly Esq Claire Banks who stood right there with us up to the finish line. Attached photos taken right outside of the court building and the smile on our faces represented victory, a breath of fresh air and satisfaction. We are very happy that this is over and we can move on with our lives. Thanks Spodek law 🙏🏼🙏🏼🙏🏼🙏🏼🙌🏼❤️

Keisha Parris

2024-03-15

Believe every single review here about Alex Z!! From our initial consultation, it was evident that Alex possessed a profound understanding of criminal law and a fierce dedication to his clients rights. Throughout the entirety of my case, Alex exhibited unparalleled professionalism and unwavering commitment. What sets Alex apart is not only his legal expertise but also his genuine compassion for his clients. He took the time to thoroughly explain my case, alleviating any concerns I had along the way. His exact words were “I’m not worried about it”. His unwavering support and guidance were invaluable throughout the entire process. I am immensely grateful for Alex's exceptional legal representation and wholeheartedly recommend his services to anyone in need of a skilled criminal defense attorney. Alex Z is not just a lawyer; he is a beacon of hope for those navigating the complexities of the legal system. If you find yourself in need of a dedicated and competent legal advocate, look no further than Alex Z.

Taïko Beauty

2024-03-15

I don’t know where to start, I can write a novel about this firm, but one thing I will say is that having my best interest was their main priority since the beginning of my case which was back in Winter 2019. Miss Claire Banks, one of the best Attorneys in the firm represented me very well and was very professional, respectful, and truthful. Not once did she leave me in the dark, in fact she presented all options and routes that could possibly be considered for my case and she reinsured me that no matter what I decided to do, her and the team will have my back and that’s exactly what happened. Not only will I be liberated from this case, also, I will enjoy my freedom and continue to be a mother to my first born son and will have no restrictions with accomplishing my goals in life. Now that’s what I call victory!! I thank the Lord, My mother, Claire, and the Spodek team for standing by me and fighting with me. Words can’t describe how grateful I am to have the opportunity to work with this team. I’m very satisfied, very pleased with their performance, their hard work, and their diligence. Thank you team!

Anthony Williams

2024-03-12

Hey, how you guys doing? Good afternoon my name is Anthony Williams I just want to give a great shout out to the team of. Spodek law group. It is such a honor to use them and to use their assistance through this whole case from start to finish. They did everything that they said they was gonna do and if it ever comes down to it, if I ever have to use them again, hands-down they will be the first law office at the top of my list, thank you guys so much. It was a pleasure having you guys by my side so if you guys ever need them, do not hesitate to pick up the phone and give them a call.

Loveth Okpedo

2024-03-12

Very professional, very transparent, over all a great experience

Bee L

2024-02-28

Amazing experience with Spodek! Very professional lawyers who take your case seriously. They treated me with respect, were always available, and answered any and all questions. They were able to help me very successfully and removed a huge stress. Highly recommend.

divesh patel

2024-02-24

I can't recommend Alex Zhik and Spodek Law Firm highly enough for their exceptional legal representation and personal mentorship. From the moment I engaged their services in October 2022, Alex took the time to understand my case thoroughly and provided guidance every step of the way. Alex's dedication to my case went above and beyond my expectations. His expertise, attention to detail, and commitment to achieving the best possible outcome were evident throughout the entire process. He took the time to mentor me, ensuring I understood the legal complexities involved to make informed decisions. Alex is the kind of guy you would want to have a beer with and has made a meaningful impact on me. I also want to acknowledge Todd Spodek, the leader of the firm, who played a crucial role in my case. His leadership and support bolstered the efforts of Alex, and his involvement highlighted the firm's commitment to excellence. Thanks to Alex Zhik and Todd Spodek, I achieved the outcome I desired, and I am incredibly grateful for their professionalism, expertise, and genuine care. If you're in need of legal representation, look no further than this outstanding team.

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Google rating score: 4.9 of 5, based on 736 reviews

2) Formulating Your Wells SubmissionIf FINRA decides to pursue charges, they’ll issue a Wells Notice allowing you to respond in writing before they formally initiate an action. This is a crucial opportunity.14We’ll craft a forceful Wells Submission laying out your full defense – picking apart the allegations, providing exculpatory evidence, raising substantive legal arguments, you name it. This is your first real chance to persuade FINRA to back off or negotiate more favorable terms.14

3) Fighting Charges at a FINRA HearingIf your Wells Submission doesn‘t put out the fire, FINRA may initiate an enforcement proceeding against you. Now we’re headed for a full hearing in front of a FINRA panel.14This is where our litigation skills really get put to the test. We’ll vigorously defend you every step, from the pre-hearing discovery process to examining witnesses to making closing arguments. No stone goes unturned in pursuit of the best possible outcome.4

4) Potential AppealsIf FINRA rules against you, that may not be the end. You have limited opportunities to appeal adverse decisions to FINRA’s National Adjudicatory Council and the SEC itself.14Our attorneys will examine whether the ruling was legally sound and weigh your appeal options. Even at this stage, you may be able to get a reversal or negotiate more favorable terms.4

Why You Need a Relentless FINRA Defense Lawyer

Look, we get it – dealing with a FINRA investigation or enforcement is overwhelming. The bureaucracy, legalese, and stakes involved can make your head spin.That’s exactly why you need a FINRA defense attorney who literally eats, sleeps, and breathes this stuff. Someone who can translate hieroglyphics into plain English and map out a clear game plan.At Spodek Law Group, FINRA defense is one of our core specialties. We’ve been through this process hundreds of times on both sides of the table. We know all the tactics, all the pitfalls to avoid, and exactly how to fight for the best possible outcome for you.Our attorneys don’t just show up for the hearing and wing it. We get our hands dirty from day one – digesting every piece of evidence, developing a cohesive narrative, stress-testing our arguments.4We also don’t take a one-size-fits-all approach. We tailor our strategies to the unique factors in your case – from the specific allegations and evidence, to your career situation and risk exposure.4And perhaps most importantly, we’re not just legal technicians. We‘re counselors who understand the emotional toll of this process. We’ll give you a safe space to ask questions, voice concerns, and stay involved every step of the way.4Because at the end of the day, you’ve worked too hard to build your reputation and career to let a FINRA issue derail everything. With Spodek Law Group, you’ve got a whole team of savages in your corner to protect what you’ve earned.

Getting Started: What to Do If FINRA Comes Calling

Okay, let’s get practical. What should you actually do if FINRA contacts you with an inquiry, subpoena, Wells Notice, or formal charges?

1. Don’t Panic, But Take It Seriously

Yes, getting that FINRA letter can feel like a gut punch. But don’t let fear or pride push you into rash decisions. Freaking out and burying your head in the sand will only make things worse.4

2. Exercise Your Right to Remain Silent

Whether FINRA wants documents or testimony from you, you have no obligation to provide anything until you’ve consulted a defense lawyer. Don’t make any statements that could be used against you.4

3. Hire an Experienced FINRA Defense Attorney ASAP

This is not the time for general practice lawyers or folks who have never dealt with FINRA before. You need a specialist FINRA defense attorney involved from square one.4At Spodek Law Group, we have a deep FINRA bench with decades of combined experience. We’ll start working on your defense strategy immediately while advising you on all your rights and obligations.

4. Follow Your Lawyer’s Advice to a T

Once you’ve got a defense team in place, listen to them carefully. Don’t take any actions without their guidance, as this could compromise your case. We’re here to be your protectors and advocates.4

5. Be Prepared for a Long Process

Mounting a comprehensive FINRA defense is a marathon, not a sprint. There will be twists and turns along the way. Stick with your legal team and don’t get discouraged. We’re in it for the long haul.4

The Bottom Line: You Don’t Have to Go It Alone

Look, we know how this FINRA stuff can make you feel powerless. You’ve got this massive government entity coming at you with complex rules and potential career-ending charges.But here’s the thing – you don’t have to feel defenseless. With the right FINRA defense lawyer on your side, you can stand up and fight back hard.At Spodek Law Group, we’ve made it our mission to protect registered reps and investment pros from overzealous FINRA enforcement. We know all their tactics, and we know how to counter-punch.Whether you need rapid response to an initial inquiry or a scorched-earth defense at a full disciplinary hearing, we’ve got your back. We’ll break down the legalese, formulate battle-tested strategies, and advocate relentlessly for your interests every step.The road ahead may not be easy. But with our elite FINRA defense team in your corner, you can regain your peace of mind and fight for the best possible resolution.