Formerly a litigation partner in one of the largest and most highly esteemed law firms in the region, Scott has been recognized by Super Lawyers Magazine as one of the “Top 50 Lawyers in Cleveland” and the “Top 100 Lawyers in Ohio,” and has received numerous other professional accolades.

Scott’s practice focuses exclusively on representing broker/dealers, RIA firms, other financial institutions and practices, as well as individual professionals in litigation, arbitration, enforcement defense, regulatory counseling, recruiting matters, and business support including negotiating and structuring practice buy/sell transactions.

Corporations also regularly engage Scott to assist them with internal investigations, and to represent them in high-value commercial litigation matters involving contract disputes, tortious interference, fraud, and other business claims.

Securities Industry Litigation

One of the most experienced securities industry litigators in the Great Lakes region, Scott regularly represents Fortune 500 financial institutions, broker/dealers, investment advisory firms and their employees in cases involving:

• Securities and shareholder litigation in multiple jurisdictions;
• FINRA customer arbitration claims involving suitability allegations, unauthorized trading and other sales practice violations;
• FINRA intra-industry business disputes;
• FINRA employment disputes involving wrongful termination, defamation, Form U4/U5 expungement demands and whistleblower retaliation claims; and
• Customer arbitrations and/or civil litigation involving life insurance policy disputes.

Securities Enforcement Defense

Securities broker/dealers, Registered Investment Advisors, and independent financial advisory practices regularly retain Scott to represent them or their employees when regulators are investigating allegations of misconduct. Individual financial advisors also regularly seek Scott out to represent them when their firm is refusing to defend them, or when they find a need for separate, independent advice. Scott’s practice in this area runs the gamut, assisting clients in responding to:

• FINRA Letters of Inquiry;
• FINRA Notices of Investigation;
• FINRA Disciplinary Proceedings;
• SEC Investigations;
• SEC Enforcement Actions; and
• Defending investigations brought by state insurance and/or securities regulators.

Securities Industry Recruiting and Transition Issues

Scott is one of the most experienced attorneys in the country in dealing with the legal issues that arise when financial advisors move from one firm to another. Over the course of his career, Scott has provided legal counsel on over 1,000 practice transitions, ranging from individuals with modest books of business to large groups with more than a billion dollars of assets under management. Having helped advisors from more than 100 different firms successfully move their books of business to a new broker/dealer, Scott knows how to anticipate and address the broad range of issues that arise in both Protocol and non-Protocol Transitions including:

• Analysis of restrictive covenants in employment contracts
• Protocol for Broker Recruiting issues
• Form U4/U5 language disputes and expungements
• Forgivable loan/promissory note disputes
• Advisor team breakups and disputes
• Evaluation of pending employment offers
• Negotiation of signing/retention bonuses

Financial Advisor Practice Transactions

Clients often hire Scott to assist them in negotiating and structuring deals for the purchase or sale of an advisor’s practice in connection with retirement or succession planning. His experience in this area includes:

• Practice acquisitions
• Practice sales
• Producer group deals
• Practice mergers
• Valuation issues
• Continuity agreements
• Acquisition financing issues
• Succession planning

Internal Investigations

As a member of his former firm’s White Collar Defense and Investigations practice, Scott regularly assists corporations, their boards, and officers in conducting internal investigations of fraud, accounting misconduct, embezzlement, and other business-related wrongdoing.

Outside of work, Scott is also very active in Cleveland’s civic affairs, particularly in the Jewish Community. He has served as an officer or trustee of several different community organizations.  Among other roles, Scott has served as President of the Cleveland chapter of the American Jewish Committee (AJC), President of his synagogue, B’nai Jeshurun Congregation, and currently sits on the AJC’s National Board of Governors.  Scott proudly received an award from City Year recognizing him for his years of volunteer community service.