Broker-Dealer Enforcement

The Broker-Dealer Enforcement Practice Group at Schoeppl Law, P.A. is led by Carl F. Schoeppl, a former senior federal prosecutor with the SEC.    Schoeppl Law, P.A. has represented  SEC registered broker-dealers and FINRA member firms, registered representatives, and others in SEC examinations, compliance interviews with SEC and FINRA examination staff, producing documents and information to SEC and FINRA examination staff, responding to SEC and FINRA deficiency letters, recommending corrective action to SEC and FINRA examination staff, responding to referrals by SEC and FINRA examination staff of certain alleged violations for prosecution by the SEC Division of Enforcement and FINRA Department of Enforcement, responding to procedural requests for information pursuant to Rule 8210 from FINRA, representing witnesses in procedural requests for on-the-record interviews pursuant to Rule 8210, preparing white papers, preparing wells submissions, defending and resolving SEC enforcement actions, and defending and resolving FINRA disciplinary proceedings.

The SEC’s Office of Compliance Inspections and Examinations (“OCIE”) conducts the SEC’s National Exam Program (“NEP”).  The NEP’s mission is to protect investors, ensure market integrity, and support responsible capital formation through risk-focused strategies that: (1) improve compliance; (2) prevent fraud; (3) monitor risk; and (4) inform policy.   The NEP conducts on-site examinations of SEC registered broker-dealers to fulfill its mission and, where appropriate, make referrals to the SEC’s Division of Enforcement.

FINRA is a registered national securities association and a primary regulatory of the majority of SEC registered broker-dealers.  As an SRO, FINRA adopts and enforces rules governing the conduct of its members.  FINRA oversees approximately 3,700 brokerage firms, 156,000 branch offices, and 630,000 registered representatives through examinations, enforcement, and surveillance.  Like the SEC, the results of examinations may result in the referral of a case for prosecution by FINRA’s Department of Enforcement, the counterpart at FINRA to the SEC’s Division of Enforcement. 

Our primary goal in an examination setting is to utilize our securities regulatory experience in the enforcement arena to assist clients in completing SEC and FINRA examinations without any referrals for prosecution by enforcement.  If this primary goal cannot be achieved due to the unique facts and circumstances of a given case and the matter is referred for prosecution, then we attempt to assist our clients by convincing SEC and FINRA enforcement staff in appropriate cases to resolve an investigation without any enforcement action against our clients.

WHO WE REPRESENT

TYPES OF BROKER-DEALER REGULATORY MATTERS WE HANDLE

Registered Broker-Dealers

SEC Examinations by OCIE

Registered Representatives

Preparing and Submitting Documents and Information Requested by OCIE Examination Staff

Officers                                                  

Preparing and Defending Compliance Interviews by OCIE Examination Staff

Directors

Responding to SEC Deficiency Letters by OCIE

Employees

Acting as a Liaison on Behalf of Clients with OCIE Examiners

Consultants

Responding to referrals by the OCIE to the SEC’s Division of Enforcement.  See the Firm’s SEC Enforcement Practice Area Profile for additional services we provide in SEC enforcement matters on behalf of clients. 

Analysts

FINRA Examinations

Investment Bankers

Responding to FINRA Deficiency Letters and recommending corrective action by the client

Traders

Preparing and Submitting Documents and Information Requested by FINRA Examination Staff

Teams

Preparing and Defending Compliance Interviews by FINRA Examination Staff

Market Participants

Act as a Liaison on Behalf of Clients with FINRA Examiners

Compliance Professionals

Responding to FINRA Rule 8210 Procedural Requests for Information

Practice Groups

Responding to FINRA Rule 8210 Procedural Requests for On-the-Record Interviews

Compliance Officers

Responding to referrals by the FINRA examination staff to FINRA’s Department of Enforcement

Accountants

Preparing White Papers to FINRA

Attorneys

Preparing Wells Submissions to FINRA

 

FINRA Disciplinary Proceedings

Schoeppl Law, P.A.

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4651 North Federal Highway
Boca Raton, Florida 33431

T. 561-394-8301 | F. 561-394-3121

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