ARBITRATION & LITIGATION
A securities consultant and expert witness working for both claimants and the brokerage industry. He testifies regularly as an expert in federal and state courts, as well as in arbitrations before the National Association of Securities Dealers (NASD), the New York Stock Exchange (NYSE), the National Futures Association (NFA), and the American Arbitration Association (AAA). He is an NASD and NYSE Arbitrator. He has been retained in over 700 cases on rules, laws and regulations of the securities industry; norms and guidelines of brokerage firms; suitability of investments and investment strategies; order execution; evaluation of various investments; damage theories; supervision and compliance. He has testified in cases that have resulted in arbitration awards or settlements totaling over 50 million dollars, including several significant punitive damage awards.
His research in preparation for arbitration includes analysis of investments sold to customers; assessment of investment suitability; determination as to what securities rules and regulations have been violated; creation of exhibits like schedule of trades, turnover, cost and commission analysis, damage calculations and lost opportunities. His involvement in the discovery process includes drafting discovery requests and testifying in preliminary hearings concerning requested documents.
He can produce comprehensive and demonstrative spreadsheet analysis exhibits. Special emphasis is given to trading exhibits and calculation and proof of lost opportunity damages under the Miley theory. References and examples of spreadsheets are furnished upon request.
MONEY MANAGEMENT
His company is based in Colorado. He is President, and is a Registered Investment Advisor (RIA). He was previously licensed with the Securities and Exchange Commission (SEC) and is currently licensed in various states as an RIA. In this capacity, he offers professional money management and financial or portfolio investment advice. Through 1998, his company managed up to 25 million dollars. He also analyzes investments, investment strategies, and performance results and performs due diligence and investigations for merchant bankers, investment bankers, and the brokerage industry. Additionally, He is Vice-President of another company, a real estate, hotel development and management company.
MEDIATION
He acts as a consultant and participant at mediations of securities cases. He also offers his services as a co-mediator in the securities field.
EXPERIENCE
He assisted the New York U.S. Attorney General’s office and the SEC in connection with their investigation of Prudential Securities’ nationwide securities fraud involving the sale of limited partnerships to investors from 1980 through 1992.
In 1988, he joined an introducing brokerage firm, as a partner and operations manager. His duties included operational management of commodity hedging and trading in agricultural and cattle markets. He was also responsible for new business development, marketing, training, staff hiring and payroll. He left the company to enter his current line of work of securities consulting.
From 1983 to 1988, He was a Vice-President with Bear Stearns. As a retail broker, He specialized in stock trading, option strategies, risk arbitrage, commodities, and fund management. He was an active trader and one of the top producers in an office of 40 brokers.
He worked for Merrill Lynch where he participated in a five-month extensive training program. He ranked third in a nationwide class of 149 Merrill Lynch brokers after one year in production. He was voted “Rookie of the Year” in 1982 and was a guest lecturer in the New York Training Department. As a registered representative, His business consisted of trading in stocks, bonds, and options, along with marketing the full range of investments offered by Merrill Lynch. He also worked closely with Corporate Financial Services and Retirement Services.
He entered the securities industry in 1981. He first worked for Investors Diversified Services (IDS), where he received extensive training. He was a licensed agent in life insurance, variable annuities, and mutual funds. His duties included cold calling, prospecting, financial planning, and selling various mutual funds and life insurance products.
LICENSES, COMPLIANCE & ARBITRATOR TRAINING
NASD CRCP Certified Regulatory Compliance Professional
NASD - Wharton School of Business (current)
NASD General Securities Principal (Series 24) (current)
MULTI-STATE RIA Registered Investment Advisor (current)
SEC RIA Registered Investment Advisor
CME & CBOT General Commodities (Series 3)
NASD General Securities Representative (Series 7)
NASD Multi-State Registered Securities Representative (Series 63)
NASD Investment Company Contracts (Series 6)
TEXAS Life and Disability Licensed Agent
TEXAS Variable Annuities and Life Insurance Licensed
TEXAS Accounting Fraud Training 1989 Austin
TEXAS 1993 NASD Arbitrator Training
COLORADO 1997 NASD Arbitrator Training
COLORADO 1999 NASD Arbitrator Chairperson Training
EDUCATION
He has a Bachelor of Science in the Administration of Justice from American University in Washington D. C., where he graduated Magna Cum Laude in 1975. He is a member of Phi Kappa Phi Honor Society.
APPEARED OR HEARD ON:
CNNFN “The Money Gang”; WNYW-TV FOX “Good Day New York; KTVK-TV “Good Morning Arizona”; KFNN-AM Phoenix; WEBFNTV “Ask the Experts”; KNX-AM (CBS) Los Angeles; Yahoo Finance Webcast; New York 1 Cable “Fortune Business Report” KUOW-FM Seattle, WSAR-AM Providence; WEIM-AM & WBIX-AM Boston; WABJ-AM Toledo; KBEM-FM Minneapolis; WPTT-AM Pittsburgh; WXRC & WIRC Charlotte; WFTL & WORL Miami; KWIP & WEVL Poughkeepsie; KCMN-FM Colorado Spings, Powernomics Syndicated Radio; WMTR-AM “Your New Jersey Connection” KFAB-AM Omaha; KKTV Colorado Springs; KRDO Colorado Springs; WBBM Chicago “Noon Business Hour”
References furnished on request.
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