Municipal Securities Expert in Broker/Dealer Fraud

Case Description:

A municipal securities expert in unit investment trusts was needed for an NASD arbitration. The claimant, a financial services company acting as trustee for a unit investment trust consisting of a portfolio of municipal securities, alleged that the respondent, a municipal securities broker-dealer, charged excessive commissions on trades over a period lasting several years.

IMS ExpertServices was asked to locate a municipal securities expert knowledgeable about the commission structure used by broker's brokers in the municipal bond market. The expert was asked to review trades and opine on the standards and practices of the municipal securities industry.

Experts Presented:

  • Municipal Bond

    With more than 35 years of experience, this municipal securities expert has spent his entire professional career in bond markets. He started as an analyst and trader at a municipal bond firm. Later he co-founded his own municipal bond firm, then managed the municipal securities departments of several large securities firms. A registered principal with NASD, he spent most of his trading years in high-yield and distressed tax-exempt bonds. His other duties included underwriting, research, and compliance. This expert has written three books on municipal securities. He's an experienced expert witness who's consulted on 45 cases, offering deposition or trial testimony on a dozen of them.IMS Reference #1470398

  • Municipal Bond Market

    This expert in the municipal bond market has over 35 years of experience, with 20 plus years in the employment of large brokerage houses and more than 15 years presiding over his own consulting firm. On Wall Street he managed more than a billion dollars in municipal securities in institutional investor markets as well as managing unit investment trusts for individual investors. This municipal securities expert's bond opinions have been quoted extensively in the media. He is a registered investment advisor with the SEC and holds Series 3, 7 and 40 registrations with the NYSE and NASD.IMS Reference #1470398

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