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SEDA Expert Provides Decisive Testimony on FINRA Licensing in Securities Dispute

  • Writer: SEDA Experts
    SEDA Experts
  • 1 day ago
  • 2 min read

SEDA Expert Robert Mass was retained to provide his expert opinion on FINRA licensing requirements in connection with investment banking services performed in a private placement transaction.


THE CASE

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The case arose from a placement agreement executed in connection with efforts to raise capital through a private placement. Under the agreement, a broker-dealer and its representative sought to recover fees, asserting that they had introduced potential investors and supported the preparation of marketing materials and presentations. Our client contended that these activities constituted investment banking functions, services regulated by FINRA that require a Series 79 license. Evidence presented at trial established that the broker-dealer did not hold such a license, despite having represented in the agreement that all necessary registrations and authorizations were in place.


THE EXPERTS' ROLE

SEDA’s expert, Robert Mass, provided testimony on FINRA licensing requirements for investment banking services in private placement transactions. Relying on his experience as former Head of Global Compliance Trading at Goldman Sachs, he explained how the services performed required a Series 79 license. The Court described him as highly qualified, credible and persuasive.


THE RESULT

The court ruled in favor of our client on all counts and dismissed the case against it.



EXPERT INVOLVED


Robert Mass

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Robert Mass as a former Goldman Sachs Senior Executive, Global Compliance Head of the sales and trading businesses, and International Compliance Head is a world-class expert in governance, supervision and compliance across markets and business types – and particularly in sales and trading, commodities and derivative compliance. He was also instrumental in the creation of Goldman’s ethics program and expert in the development and management of firmwide ethics programs.






Learn more about SEDA at sedaexperts.com


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