Advisors facing a disciplinary action might want to consider fighting, rather than settling, the matter, according to a study by law firm Sutherland Asbill & Brennan.
The study analyzed 90 broker-dealers and investment advisors who contested actions brought against them by either FINRA or the SEC from April 2012 through September 2013. Almost half of them (46.7%) had charges dismissed or sanctions lowered when they chose to present their cases before an SEC administrative law judge or a FINRA hearing panel, the study found.
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