Aidikoff, Uhl & Bakhtiari provides representation for broker’s and financial advisors in connection with responses to state, federal and other types of regulatory investigations. The firm works with advisors to analyze their defenses; prepare written statements in response to SEC, FINRA, CFP or other inquiries; attends On The Record OTR or other interviews as counsel of record; responding to Wells Notices; negotiating or litigating the matter to conclusion.
If you have received correspondence from a FINRA investigator conducting an 8210 inquiry typically first responses are done in writing and there may or may not be follow up. An 8210 inquiry or SEC subpoena can be a serious matter.
Secondary steps may include an On The Record interview with investigators, compliance with an OTR request is mandatory. The failure to respond alone may give FINRA the ability to levy sanctions or bar you from the industry.
Often regulatory investigations start as a result of am arbitration filing, criminal charges, U4 or U5 disclosure which in some cases can trigger multiple inquires from additional state, SEC, CFP or others.
CFP investigations take a similar track, they begin with a Notice of Investigation and provide an opportunity to file a written response to the allegations.
Often regulatory matters are inextricably intertwined with employment related claims, a transition to new employer or advisory firm. It is of critical importance that financial advisors have a uniform and focused approach to dealing with all of the entities and related matters.