Financial Services

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In such a highly regulated industry, do you have all of your bases covered? Working with broker/dealers, RIAs and wealth management professionals, we know what it takes to keep you in compliance.

Overview

Who We Are

With backgrounds in business, finance, accounting, and the securities industry, our professionals empathize with our clients in the Financial Services industry and their legal needs. Our unique pairing of business and legal experience makes Greensfelder trusted advisors to national, regional, and community-based banks and other depository institutions, trust companies, broker-dealers, registered investment advisors, financial planners, and other financial services firms, handling  complex financing transactions,  disputes, compliance matters, and day-to-day regulatory counseling. 

Noted financial institutions rely on our team for critical legal advice across a broad spectrum of issues and deals. Whether our clients are navigating regulatory or compliance issues, dealing with day-to-day business matters, facing litigation, or require counsel in financing transactions Greensfelder lawyers capitalize on their breadth of experience to advise clients.

Why Financial Services Clients Choose Greensfelder

Through decades of work in the industry and the annual Securities Industry Symposium that Greensfelder hosts with the Bar Association of Metropolitan St. Louis, Greensfelder has developed an ongoing working relationship and regular cadence with national and regional regulators including the SEC, FINRA, and FinCen. The symposium highlights cutting-edge topics for clients and provides regulators with the equivalent of a live focus group, providing all attendees with the opportunity to discuss changes in the industry and specific issues and challenges with regulatory compliance.

What We Do

Broker/Dealers

Broker/dealers rely on Greensfelder for assistance with compliance consulting and a host of other industry advice including:

  • Structuring and forming brokerage firms
  • Creating or providing direction on policies, procedures and guidelines for implementation and administration of complex and alternative products
  • Reviewing business practices, business areas and auditing
  • Drafting compliance manuals and disclosure documents
  • Creating and administering due diligence committees and disclosures
  • Preparing product-specific acknowledgments
  • Advising on compliance and regulatory issues
  • Assisting with ongoing communications with regulators
  • Responding to regulatory initiatives such as the SEC’s MCDC program
  • Providing updates and guidance on new regulations and changes that impact firms
  • Counseling on wage and hour issues and overtime
  • Creating customer/employment/succession planning agreements
  • Drafting and enforcing restrictive covenants, non-compete and other employment agreements
  • Assisting with protocol and non-protocol transitions
  • Conducting internal investigations
  • Assisting with customer complaints and reporting requirements (Rule 4530)
  • Drafting interpleader funds and defense of claims in state and federal court
  • Providing a hotline to broker/dealers on issues related to trusts, estates, POA and wills
  • Representation during litigation

Registered Investment Advisors (RIA)

For RIAs across the country, Greensfelder provides industry expertise and legal guidance in a variety of day-to-day business and securities matters including:

  • Books and records
  • Advertising and brochures
  • Code of ethics
  • Forms ADV
  • Conflicts of interest
  • Solicitors agreements
  • Cybersecurity issues
  • Terminations and registrations of investment professionals (Form U-4 and U-5)
  • Enforceability of restrictive covenants, protocol procedures, trade secret and confidentiality concerns, the mechanics of forgivable loans and other bonus programs
  • Defending against regulatory and enforcement matters before state and federal self-regulatory organizations and governmental agencies:
    • Responding to requests from FINRA/SEC
    • Defending on-the-record interviews
    • Negotiating settlements/resolutions

Trust Companies and Wealth Management

When bringing a new product line to market, financial services firms seek Greensfelder’s counsel throughout the process, receiving guidance from start to finish. Greensfelder will create the policies, procedures, disclosures and all relative agreements necessary to establish and document each transaction. Our team also assists by guiding clients through internal analysis, compliance, supervision, marketing and advertising, suitability, product review and development, due diligence, disclosures and final agreements needed to bring the new product on line.

Attorneys

Experience

Representative Matters

  • Investment advisor and investment company entity-formation, registration and compliance counseling
  • Providing advice regarding securities laws, including counseling on compliance with public company reporting obligations, regulatory compliance and reporting, and dual registration issues
  • Compliance counseling for privacy, security and data protection requirements
  • Providing advice regarding Dodd-Frank compliance matters
  • Advising/litigating with respect to prohibited practices and fiduciary obligations under ERISA, the Internal Revenue Code and state pension statutes
  • Advising/litigating on matters that concern a firm’s employment relationships, including whistleblower issues, broker defection and transition matters, raiding, retaliation and discrimination cases
  • Advising/litigating all aspects of troubled loans, including workouts, modification, forbearance agreements, default loan litigation and foreclosures
  • Assisting in identifying, collecting, reviewing and producing documents, including ESI, in response to regulatory requests, in litigation and arbitration
  • Regulatory litigation, compliance counseling and negotiation with state, federal and industry regulators
  • Representing firms in national litigation and arbitration covering wide-ranging products and subject matters including failure to supervise, unsuitability, churning, insider trading, fraud, elder abuse, trust/power of attorney issues and breach of fiduciary duty
  • Class-action defense involving mutual fund disclosures, product failures, alleged fraudulent investments and wage and hour issues

News & Insights

Publications

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