Expert witness services
Evaluating claims and defenses, reviewing industry practice and regulatory requirements, analyzing evidence, and providing subject matter expert testimony. This is the one page where the joke stays in the frame and out of the content.
Why this background matters here.
Expert testimony on securities industry practice is only useful if the expert has actually done the thing being described. This one has been a chief executive officer and chief compliance officer of a FINRA member firm, general counsel to an issuer, and securities counsel to a sponsor — before ever being asked to explain any of it to a panel.
Illustrative — how these engagements tend to begin
Q. What are you actually being asked to do?
A. Usually one of four things: evaluate whether conduct was consistent with industry practice, explain what a rule required at the relevant time, analyze whether a due diligence or supervisory process was reasonable, or read a set of offering documents and say what they disclosed.
Q. Do you take a side?
A. You are retained by a side. The opinion is not for sale. An expert who will say anything is worth nothing, and any competent cross-examiner will demonstrate that within ten minutes.
Q. What makes an expert opinion hold up?
A. Being specific about the standard, being specific about the time period, and being willing to concede the points that should be conceded. Credibility is cumulative and it is spent all at once.
Q. When should counsel call?
A. Earlier than most do. An expert brought in during the pleading or early discovery stage can tell you what documents will matter. An expert brought in three weeks before a hearing can mostly only describe what you already have.
Common engagement subjects
- Broker-dealer and investment adviser sales practices.
- Suitability.
- Outside business activities.
- Private securities transactions.
- Supervision, supervisory systems and procedures.
- Due diligence, at the sponsor level and the program level.
- General compliance with FINRA and SEC rules and regulations.
- Real estate funds, 1031 exchanges, tenant-in-common and Delaware statutory trust structures.
- Oil and gas programs.
- Syndications, private placements and other disclosure issues.
Where
Civil litigation and arbitration, and before federal and state regulators — including the Securities and Exchange Commission, the Financial Industry Regulatory Authority, and state and federal trial and appellate courts.
Related practice areas
Counsel enquiries welcome.
Send the forum, the general subject matter, the parties for conflict-checking purposes, and your hearing or disclosure deadline.
Enquire about an engagementFootnotes
- The transcript above is written for this website as an illustration of how these engagements typically start. It is not a real transcript and does not describe any actual testimony or matter.
- Expert witness services are described generally. Availability and scope depend on conflicts, subject matter and schedule.