Richard J. Babnick Jr.

Partner

Introduction

Richard J. Babnick, Jr. represents Business Entities, Officers and Directors, Shareholders, and Individuals in State and Federal court proceedings, as well as Broker-Dealers and Registered Representatives in investigations and administrative proceedings before the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”), and State Securities Regulators. Mr. Babnick also represents Customers, Broker-Dealers, Principals, Supervisors and Associated Persons in arbitration proceedings before FINRA and other tribunals.

Prior to joining Sichenzia Ross Ference Carmel LLP, Mr. Babnick was associated with Parker Duryee Rosoff & Haft, PC n/k/a Reed Smith LLP. He had also served as a Judicial Extern to the Hon. G. J. DiBianco, Magistrate Judge, in the Northern District of New York.

Representative Work

• Obtained the post-hearing dismissal of all claims against Registered Representative in a reparations proceeding before the U.S. Commodity Futures Trading Commission involving the allocation of orders by a Foreign Trading Advisor.
• Obtained partial summary judgment in Federal Court on behalf of an Investment Bank against an Issuer for investment banking fees, and subsequently obtained a favorable settlement for the Investment Bank.
• Obtained summary judgment in New York State Supreme Court on behalf of the Founder, President and Director of a private fuel company dismissing fraud claims in connection with a series of private placement investments.
• Obtained a favorable post-hearing FINRA Award on behalf of a Clearing Agent in a claim filed by a former Introducing Broker.
• Obtained the post-hearing dismissal and expungement Award in FINRA arbitration proceeding where the Public Customer had alleged churning, suitability, and fraud claims against a Broker-Dealer and a Registered Representative.
• Negotiated a favorable resolution on behalf of a Broker-Dealer and its Officers in an early intervention mediation involving twenty-five Public Customers alleging a multi-million dollar selling away claim involving several private companies.
• Retained by an Insurance Carrier as Special Counsel to mediate a complex securities litigation claim and obtained a favorable resolution that was several hundred thousands of dollars below Trial Counsel’s authority.