Brokerage Management Expert in Securities Trading

Case Description:

A brokerage management expert was needed for a professional malpractice dispute. The plaintiff was a broker in the employ of a global financial services provider. He had substantial personal holdings in a public company and was selling short against the box to trade in this account. The defendant was the plaintiff’s employer. Management thought this employee’s holdings were over concentrated and put a restriction on his purchases. The plaintiff had signed a securities trading agreement preventing him from transacting with another firm. This denied him the right to manage his portfolio in his best interest. After the stock declined in value 45 percent, management allowed the broker to sell short against the box. By that time, the advantage was lost. At issue is whether the company had the right to change the policy and procedure for its brokers midstream.

IMS ExpertServices was asked to locate brokerage management experts with large brokerage firm experience in operations, risk management, non-competes, and compliance who were familiar with internal procedures and policy making with regard to employee trading. The experts needed to be conversant in over concentration and short selling against the box. The experts would be asked to opine on whether the company acted improperly by restricting trading in this account.

Experts Presented:

  • Financial Services Expert

    This brokerage management expert has more than 25 years experience in the financial services industry including 17 years as a branch manager for a large brokerage firm. He has been in charge of training branch managers and creating the programs used to guide supervision policies at the branch level. He is a frequent speaker on topics of failure to supervise and participated in the creation of an industry-wide report on the topic. This expert currently investigates and consults on all aspects of litigation support that involves suitability, rogue trading, and other disputes. He has been involved in more than cases and is a recognized NASD arbitrator. IMS Reference #4988589

  • Securities Trading Expert

    This expert holds a Harvard MBA and has more than 30 years experience in securities trading and brokerage management. He has supervised employee trading staffs and assessed their trading activities against the clients’ portfolios to determine if the trades were compatible with the risk profile. As a consultant he has helped numerous firms start up their trading and exchange floor activities. This expert has acted as an NASD arbitrator and has qualified as an expert on several topics, including supervision responsibilities and standards of care. IMS Reference #1218065

  • Brokerage Management Expert

    This brokerage management expert has been a head trader responsible for compliance and approval of employee trading. His experience includes the oversight of 0 sales representatives. With more than 20 years experience in securities trading, he was responsible for reviewing the trades against policies and also coordinating the review with in-house compliance staff and the legal department. This expert is skilled in risk management strategies and short selling against the box. IMS Reference #4976803

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Industry: All, Securities