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Form U-5/Defamation

Our Florida Law Firm Will Fight Form U-5 Abuse and DefamationRepresenting Brokers And Investment Advisors In Florida And Across The United States

The Financial Industry Regulatory Authority (FINRA) requires brokerage firms to file a Form U-5 reporting the termination of a registered representative's employment, along with the reasons for such termination within 30 days of the event. This is an important regulatory requirement for the protection of investors that is sometimes abused by a brokerage firm through false answers and defamatory explanations on the Form U-5 in retaliation to a broker's departure from the firm's employment, to avoid competition, and minimize the loss of customers. Notwithstanding the importance of this notice, the attorneys at The Law Offices of Robert Wayne Pearce, P.A. will not stand by and let this process be abused by any brokerage firm when it comes to its broker and investment advisor clients located throughout the country.

False Statements And Explanations On Any U-5 Will Harm Your Career

The brokerage firm must indicate on the Form U-5 whether the broker left voluntarily, was permitted to resign or was discharged, and if their reason was other than voluntary, provide a brief explanation. The firm is required to state whether the broker, while employed: was involved in any disciplinary action; the subject of certain investment-related, consumer initiated complaints; was convicted of or pled guilty or nolo contendere (no contest) to a felony or certain misdemeanors; was the subject of a governmental or self-regulatory organization investigation; or was under review by the firm "for fraud or wrongful taking of property, or violating investment statutes, regulations, rules, or industry standards of conduct." The threat of "yes" answers and false explanations on the Form U-5 have been made by brokerage firms to deter early departures, discourage solicitation of clients at the new firm, extort repayment of up-front bonuses, and other nefarious activities. The explanation section of the Form U-5 has also been abused by firms to discourage the prospective employer from hiring brokers, trigger unwarranted FINRA investigations to delay registration, thwart competition, and for retaliation, solely. These false statements and explanations will permanently be on your record and harm your career.

Don't Let Any Brokerage Firm Defame Or Extort You When You Leave The Firm

The publication of false statements that harm your business reputation and deter others from doing business with you or otherwise subject you to hatred, contempt, or ridicule may be actionable as defamation. The brokerage's defenses are generally: 1) the statements are true; 2) they were made in good faith and not maliciously or recklessly; 3) the statements are protected by absolute or qualified privileges depending on the state law; and 4) they are barred by statutes of limitation which can be as short as one year in some states. You should consult with an attorney who is knowledgeable of FINRA rules, practices, and procedures and who possesses the skills necessary to deter firms from making any such statements on the termination notice and/or recover your damages. Attorney Pearce has over 40 years experience with FINRA arbitrations and successfully asserting and proving such defamation claims.

Free Initial Consultation With Attorneys Who Can Handle Your Form U-5 Defamation Problems

The Law Offices of Robert Wayne Pearce, P.A. understands what is at stake in matters involving Form U-5 abuse and defamation problems for brokers and investment advisors and constantly strives to secure the most favorable possible result. Mr. Pearce provides a complete review of your case and fully explains your legal options. The firm works to ensure that you have all of the information necessary to make a sound decision before any action is taken in your case.

For dedicated representation by a law firm with substantial experience in all kinds of securities, commodities and investment disputes, contact the firm by telephone at 561-338-0037 or toll free at 800-732-2889 or via e-mail. We may also be able to arrange a meeting with you at offices located in Boca Raton, Fort Lauderdale, Miami, and West Palm Beach, Florida and elsewhere.

Client Reviews
Robert Pearce is part of that unusual breed of lawyers that are able to create empathy with clients and thoroughly adopt their cause. No half efforts here. He and his group of professionals are outstanding strategists that can execute with precise fervor and unyielding determination. Theirs is a huge wave of facts, research, precedents and preparation, that has impressed me in its thoroughness and creativity, and most importantly with the results. No stone goes unturned and no effort is ever spared. In my book, he and they are those of a very rare kind that one wants to keep for a very long time. Ramon F.
This law firm is the real deal. We were so lucky that they took our case as they have so much experience in securities and all the wrongdoing that happens in these investment companies where they mislead you and your money (as in our case) into schemes that are not what you think they are. Mr. Robert Pearce is one of the best lawyers around, a truly professional who will fight for you and will tell you as it is all the time. Astrid M.
Mr. Pearce is a great professional and attorney. He led me through every step of the process in a clear, direct and straightforward manner. I highly recommend him as a securities attorney. Rey S.
Just like the song from HAMILTON, it's so nice to have Bob Pearce on your side. He is the consumate plaintiff's lawyer: smart. dedicated, fully able to try a case but a great negotiator in a mediation. He did a wonderful job for us, fully supporting us through the process and more than holding his own against a large national law firm. Maurice Z.
No lawyer except Bob said I had a chance of winning. When Ubs lawyers laughingly offered me zero to settle the dispute, Bob became even more determined to prove everybody wrong. Bob was extremely prepared, and always a step ahead of the opposing attorneys throughout the arbitration. In the end, Bob and I had the last laugh when the arbitrators awarded me almost 6 million dollars. J. Blanco