When the going gets tough, some reps and broker-dealers get going in suing the Securities and Exchange Commission and the Financial Industry Regulatory Authority — and sometimes it pays off.
That is the finding of the just-released annual study by Sutherland, Asbill & Brennan analyzing whether it pays for reps and BDs to litigate against regulators instead of settling. The Sutherland study analyzed cases from October 2010 through March 2012 where BDs and individuals were charged with violating SEC and FINRA statutes, rules and regulations.
Reps and BDs often cower from hitting back against the SEC and FINRA. However, Sutherland details in its report the four areas in which reps and BDs did indeed find some success.
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