The securities industry is highly competitive. Registered representatives are often promised lucrative careers and significant upfront monies by recruiting brokerage firms in exchange for their book of clients. High expectations are often disappointed as registered representatives realize that they have been fraudulently induced into a job they never bargained for. Ultimately, bitter employment law disputes between registered representatives and brokerage firms ensue.
For more than 18 years, attorney David R. Chase has practiced exclusively in securities law. He offers strong advocacy and legal counsel to registered representatives in disputes with their brokerage firm, involving:
- Wrongful termination
- Breach of contract
- Forgivable loan and promissory note disputes
- U-5 defamation
Attorney David R. Chase applies his years of experience and legal skills to protect registered representatives' legal interests. Before starting this law firm, he served as senior counsel in the Enforcement Division of the Securities and Exchange Commission (SEC) and as Special Assistant Unted States Attorney in the Economic Crimes Division of the United States Attorney's Office in the Southern District of Florida.
Contact our law firm today to schedule a free initial consultation with a highly skilled securities law attorney.
Handling Forgivable Loan and Promissory Note Disputes
Brokerage firms commonly recruit registered representatives from other Wall Street firms to gain access to their book of business. Typically, brokerage firms establish forgivable loans as a safeguard to protect their financial interests.
If the registered representative stays with the brokerage firm through the duration identified in the forgivable loan, the registered representative is not obligated to repay the firm after leaving. However, if the registered representative resigns or is terminated before the loan is forgiven, the registered representative is required to pay back the brokerage firm.
At The Law Firm of David R. Chase, P.A., in Fort Lauderdale, Florida, we offer strong advocacy and legal counsel to registered representatives being sued for failing to repay their former brokerage firm monies due on a forgivable loan or promissory note. Attorney David R. Chase will negotiate and, if warranted, litigate these cases in an aggressive manner to protect his clients' interests.
These promissory note broker cases are handled in Financial Industry Regulatory Authority (FINRA) arbitration. Attorney David Chase has extensive experience litigating against the major firms, often prosecuting counter-claims alleging fraudulent employment law practices, false promises, wrongful termination and breach of contract.
Offering Strong Advocacy in U-5 Defamation Cases
When registered representatives leave brokerage firms, the brokerage firm must identify why the employment ended in a Form U-5. This information is collected in a central database by FINRA for potential employers to access. Negative comments in a Form U-5 can taint securities professionals' careers, ultimately leading to a loss of clients or job opportunities.
At The Law Firm of David R. Chase, P.A., we offer strong advocacy and legal counsel to fight back against inaccurate and false U-5 statements that pose a substantial risk to a registered representative's career and reputation. We will not hesitate to pursue FINRA arbitration claims against brokerage firms that act in bad faith.
Florida Securities Law Firm Offering Legal Services Nationwide
Located in Fort Lauderdale, Florida, we represent registered representatives in disputes and controversies with their former brokerage firm. Contact our law firm today to schedule a free initial consultation with a highly skilled securities lawyer.
