When a broker increases his or her commissions by trading heavily in a client’s account, that broker runs the risk of being charged with “churning.” The SEC and FINRA are serious about rooting out churning wherever it is found. This issue makes headlines on Wall Street that extend beyond United States markets and create national or even international attention.
If you are dealing with a churning investigation or charge, contact United States churning defense attorney Nishay K. Sanan immediately. He understands the need to be discreet and has the skill required to effectively defend cases against tough FINRA arbitration panels. In these cases, it is important to take swift legal action to form a sound defense strategy.
Generating commissions from excessive trading is considered stockbroker churning. In many jurisdictions, churning is considered a breach of securities law and a federal crime. An allegation of churning is a serious crime with far-reaching implications. Just the allegation alone is significant enough to ruin a career and tarnish a personal reputation. A guilty verdict can be punishable by jail time, penalties and the loss of professional licenses required for work in the financial field. The activity is known by various names, including:
United States federal criminal defense lawyer Nishay K. Sanan understands the complex nature of financial law and the seriousness of an allegation of churning. With a background in accounting and more than 15 years of legal experience, he provides knowledgeable representation for clients in Manhattan for a variety of white collar crimes. In every case, he meticulously reviews volumes of documentation, analyzes the facts and creates a strategic defense. He will do everything possible to avert charges, have cases dismissed or prevail at trial.
If you are under investigation or accused of stockbroker churning in United States, federal defense lawyer Nishay K. Sanan can help. Please call his Manhattan law office at 312-692-0360 or 888-335-6504. You can also contact his law firm online. While initial consultations are free, clients may be asked to reimburse for travel expenses.