A study by law firm Sutherland Asbill & Brennan suggests advisors may not want to immediately settle when regulators bring charges.
The study looked at cases brought before internal review bodies of the SEC and FINRA in 2013, as well as cases that were litigated in district courts.
When claims were heard by the internal review boards, 46 percent of advisors, broker-dealers or registered reps were able to get charges dismissed or reduced. Success rates were even higher in federal courts; judges or juries dismissed or reduced charges 60 percent of the time.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
