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Litigating Against SEC, FINRA Can Pay Off: Study

Law360 (February 5, 2009, 12:00 AM EST) -- Broker-dealers and registered representatives should sometimes consider fighting charges filed by securities regulators rather than automatically pursuing a settlement, a new study suggests.

In an analysis of a year's worth of litigated disciplinary proceedings filed by the U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority, a study done by attorneys at Sutherland Asbill & Brennan LLP found that many broker-dealer firms and their registered representatives have what may sometimes be a baseless fear of litigating against regulators, depending on the case.

“Respondents fear...
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