Financial Services Industry
There are a number of whistleblower laws specific to individuals in the banking, investment banking and financial services industry. These include the Sarbanes-Oxley Act, the Dodd-Frank act and the Consumer Financial Protection Act. Employees in the financial services or securities fields should be weary in navigating the vast and complex securities laws and FINRA rules without an attorney. A single deadline missed; particularly on a claim that the employee wasn’t even aware existed can readily occur. In addition, this industry is notoriously ridden with discrimination issues and other violations of law. Examples of recent cases we successfully handled:
Enginarlar v. Fort, LP, et al, Circuit Court Maryland, Montgomery County, Case No. 455770-V
This was very complicated case against a giant company registered with the Commodity Futures Trading Commission and the Securities and Exchange Commission that at the time had approximately $6 billion under management. We represented Emre Enginarlar, a hedge fund manager who developed new trading models utilized by the company to make hundreds of millions of dollars in profits. There were serious issues involving his compensation, the company’s succession plan, measuring the company’s increased AUM, possible security violations and whistleblower retaliation under the Maryland Securities Act, §11-302; §14-102 (1) and (2); and §14-127. The litigation led to a confidential settlement resolution.
Coniglio v. New York Community Bancorp, Inc., 2:18-cv-06921-JFB-GRB
We represented Donna Coniglio a Long Island, NY resident in the United States District Court, Eastern District of New York on an age discrimination and retaliation case. Ms. Coniglio had a successful career in the banking industry and she was a long standing member of the Association of Certified Anti Money Laundering Specialists. She spent a number of years in the New York Community Bancorp’s Community Reinvestment Assistant/Community Development Lending Department as a CRA Manager. She managed a team charged with conducting investigations on cases and alerts produced through the bank’s automated monitoring system or through internal referrals, subpoenas or 90 Day/continuing Suspicious Activity Reviews. She then continued her successful career in the Bank Secrecy Act/Anti Money Laundering department. The litigation led to a confidential resolution in 2019.