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For nearly 25 years, Malecki Law has provided legal representation to investors who have been victimized by financial fraud, whether within private investments or the stock market. The firm’s founder, Jenice L. Malecki, has recovered tens of millions of dollars for senior investors and retirees, and has long been passionate about serving the underrepresented, in particular elderly victims of financial abuse. This is an area that has held continued focus by national regulators such as the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC). At the state level, the Securities Division of the Nevada Secretary of State has previously issued investor alerts to help guard against exploitation of vulnerable groups, including seniors and minors. Under Nevada state law, Nevada-registered broker dealers and investment advisers are required to report exploitation of older and vulnerable persons. An obvious shortfall of such laws is that the industry persons required to report the abuse may, in fact, be a perpetrator engaging in financial exploitation of vulnerable groups; it is the equivalent of the fox being asked to guard the hen house.
Losing investment funds due to fraud can be devastating, especially to senior investors who have left the workforce and have no ability to ever make that money back. In this day and age of trading stocks from your phone, it is seniors who more typically rely on the advice of a financial adviser, thus making them more prone to abuse. These advisory relationships are often developed over time and built-up trust, making it hard to spot fraud when it is happening. One underutilized thing that most investors can do to protect themselves is to perform simple online research regarding the adviser’s background. Doing so can alert you to red flags, such as prior customer complaints or regulatory discipline against the adviser. FINRA’s Brokercheck website allows you to conduct such a search simply by entering the name of the adviser and the firm he or she is registered with. The site then provides a CRD (Central Registration Depository) report that is publicly viewable. A separate search can also be conducted against the firm itself, which can also be held liable for negligence in failing to supervise an investor’s account.
Malecki Law is a boutique, securities firm based in the heart of Wall New York City’s financial district. The firm ensures proper representation in each state and has represented investors across the country, both in state and federal court, as well as in arbitration. The majority of lawsuits to recover retail investment losses is, in fact, filed in FINRA’s arbitration forum, which can offer a faster, more efficient way to recover one’s losses than court. Malecki Law’s securities lawyers can also help move the process along even faster by regularly ensuring that its eligible clients are granted expedited case status from the case’s outset. Another big advantage of suing a wrongdoer in FINRA arbitration is that the awards are binding, requiring payment within 30 days of the award. Arbitration awards also have very limited grounds for appeal, making recovery efforts much less prolonged than filing in court. This is a good thing, especially for elderly investors, who have less time to lose because of their age, and who are more prone to suffer more financial hardship than other investors because of the continually increasing burden of age-related medical and care expenses.
In addition to representing defrauded retail investors, Malecki Law offers a broad range of representations in other securities matters. The firm’s experienced, New York attorneys also represents financial professionals in employment disputes against their financial institution employers, whether in contractual, promissory note disputes or expungement matters to remove defamatory remarks and customer complaints on a Form U5. Malecki Law also provides extensive regulatory defense representation to anyone in receipt of a FINRA 8210 request letter, or a subpoena request for documents or testimony from FINRA, the SEC, or state regulators like the Nevada Securities Division. If you have questions about whether you have a case or if Malecki Law is right for you, call us for a free consultation.