John T. Foster is the President and CEO of Bedford and Main Financial Consulting, which provides specialized consulting services primarily for broker-dealers and RIAs. Bedford and Main is listed in the FINRA Compliance Vendor Directory.
Mr. Foster calls upon his in-depth knowledge of broker-dealer management, operations and compliance to offer expert opinions and testimony. He has testified for both sides of the legal table in civil cases and FINRA arbitrations, promoting high standards of fairness for broker-dealers.
Mr. Foster specializes in clearing services and industry infrastructure litigation, along with Anti-Money Laundering (AML) issues for broker-dealers. Prior to founding Bedford and Main in 2011, he worked for 13 years in level positions for a large, multi-national clearing firm, allowing him to develop expertise with foreign accounts and anti-money laundering issues. He later served as the President/CEO of an independent broker-dealer, where he was responsible for a retail-based business and online brokerage services. The experience provided John with a uniquely relevant understanding of core SEC and FINRA compliance issues, such as suitability, supervision, senior issues, churning, and written supervisory procedures. He is proficient in matters related to client and firm interactions with both Financial Advisors and Online firms.
Advantages of our litigation services:
Senior Level Experience - Decades of diverse high-ranking management experience in the broker-dealer industry.
Previously held Series, 3,7,24, 27, 63.
Still Actively Engaged – John's expert witness business is a natural extension of his core consulting services. He is a CAMS Certified Anti-Money Laundering Specialist who annually conducts many independent AML reviews. John is also certified as a FINRA Dispute Resolution Arbitrator
- It would not be possible to hold to our standards of supporting the industry if we were not selective as to specific issues and our ability to ethically provide an expert opinion.
As a consulting firm that focuses on broker-dealers (B-Ds), we often have discussions with clients, particularly new start-up firms, who are looking to understand the big picture of what makes up the industry. This paper will attempt to expand on some of the particular points noted by FINRA and to provide more color on industry trends related to the makeup, business models, and structure of the current broker-dealer environment.
Bob Lawson, CSCP, AIF®, CFE®, MRFC®, LUTCF®, is a Securities & FINRA Expert Witness retained for FINRA arbitration, mediation, and federal/civil court litigation. Mr. Lawson possesses over 35 years of experience within the securities and insurance industries. In 1988, Mr. Lawson founded Barrington Capital Management, Inc., a Registered Investment Advisory firm and Insurance Agency, and currently serves as the Managing Principal of Barrington Financial Consulting Group, Inc, a 12-person Securities Litigation and Consulting firm.
In addition, Mr. Lawson serves as a FINRA Mediator and presides as a FINRA & NFA Arbitrator, Chairman -Qualified for disputes concerning investors, financial services professionals, broker-dealers, and dually-registered investment advisers. Claims often arise regarding breach of fiduciary duties, securities fraud, employment disputes, conflicts of interest, churning, unsuitable investments, and failure to supervise, among others. Mr. Lawson also serves as a public mediator and is a Qualified Neutral under Minnesota Rule 114 of Standard Practice in Mediation and Arbitration. His breadth of experience includes managing and supervising FINRA broker-dealer branch offices as a Registered Securities Principal, Options Principal, and Chief Compliance Officer.
Mr. Lawson also has considerable experience with insurance products including variable annuities, fixed and indexed annuities, long term care, and life insurance. Mr. Lawson possesses numerous accolades and is a Certified Securities Compliance Professional (CSCP), Accredited Investment Fiduciary (AIF®), Certified Fraud Examiner (CFE®), Master Registered Financial Consultant (MRFC), and a Life Underwriter Training Council Fellow (LUTCF®).
Retaining Mr. Lawson as an Expert Witness and Litigation Consultant will clarify and address relevant issues pertaining to your case from an insider's point of view. Upon a thorough examination and analysis of the case material, Mr. Lawson’s conclusions and opinions are impartial, objective, and predicated upon years of industry expertise and experience. Expert testimony and reports are supported by thorough and detailed research through case-specific analysis.
Bob is active in the following organizations: Chairman - Master Registered Financial Consultants | Mentorship and Practice Management Chair - Securities Experts Roundtable | Twin Cities Certified Fraud Examiners Association, Membership Chair - Minnesota State Bar Association ADR Section and Charter Financial Analysist (CFA) Society.
In the securities brokerage industry, "selling-away" refers to the prohibited practice of an Associated Person effecting or soliciting the sale of securities or investment products not held or approved with whom the broker is affiliated without prior written consent. FINRA regulators have seen a steady flow of selling-away cases over the years involving registered representatives who are being targeted by issuers, promoters and marketing agents to sell their nontraditional investment products to their retail customers. In many instances, promoters of these products are marketing them as non-securities products that do not have to be sold through a broker-dealer by a registered person. In a significant number of cases, associated persons have sold these investments to their customers away from the broker-dealer and without firm approval as required by FINRA Rule 3270. Selling-away often occurs in an independent branch or a satellite office, where Associated Persons are removed from the day-to-day oversight and supervision of their brokerage firm's compliance department.
I receive phone calls throughout the year from attorneys who have taken on their first FINRA case and they frequently are unaware how the FINRA Dispute Resolution process differs from other venues. I thought it would be helpful to provide a quick overview for new participants and a refresher for those more experienced securities attorneys on how the FINRA Arbitration and Mediation process works.
In FINRA-related cases many attorneys see discovery requests objected to by opposing counsel. Typically, opposing counsel objects to discovery requests citing that items requested are either "overly broad, vague, or ambiguous", or "impermissible per FINRA's Code of Arbitration Procedure". However, despite opposing counsel's reasoning, many objections to discovery requests are irrelevant and do not hold up in regard to FINRA's Code of Arbitration Procedure. Attorneys should not be intimidated or discouraged by these objections, but rather should understand that FINRA's guidelines concerning arbitration allow for most applicable and reasonably obtainable discovery information to be delivered.
Daniel A. Strachman, CDDA, is a Financial Services Expert working on Wall Street for more than 25 years in various capacities. Mr. Strachman is Managing Director of A&C Advisors LLC, a firm that provides strategic advice and counsel along with fund governance services to the investment management industry. He serves as a director to both on-shore and off-shore investment vehicles and is a registered director under the Directors Registration and Licensing Law, 2014 of the Cayman Islands.
Litigation Support - Mr. Strachman served as an expert witness in a number of investment management litigation cases focused on fund marketing, redemption policies and structuring. A FINRA Registered Neutral Arbitrator, his services are available to attorneys for plaintiff and defendant.
Area of Expertise:
Hedge, Private Equity, Mutual Fund Product Development
Blockchain and Crypto Currencies
Distribution of Equities
Communications with Investors
Background Information - Mr. Strachman has worked at firms including Apex Funds Services, Morgan Stanley, Cantor Fitzgerald and Orbitex Financial Services Group. He is the Co-Founder of the Investment Management Due Diligence Association, an independent educational organization focused on setting best practices for both operational and investment management due diligence around the globe.
Mr. Strachman is formerly an adjunct professor at Rutgers University Business School where he taught graduate level courses on corporate finance and investment analysis. He has appeared on CNBC, Bloomberg, National Public Radio and the BBC. He is formerly an adjunct professor at New York University’s School of Continuing Education and has lectured at the New York Society of Security Analysts. He is a graduate of Clark University.
This book is revised and updated to address how the credit crisis, legislation, fraud, technology, investor demand, global markets, and the economic landscape have affected the industry.
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The hedge fund industry has been reeling in the wake of recent Ponzi schemes and insider trading scandals as well as the loss of billions of dollars in assets under management due to fund closures. This book focuses on the current state of the industry; how hedge funds did or did not survive the subprime and subsequent credit crisis; and, what the future holds for investors.
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This book presents readers with a unique look at these investment vehicles, the people who run them, and those who provide services to them. This book is a detailed guide of the industry and offers rare access to hedge fund managers and industry participants. The book provides the reader with a real education about hedge funds, gaining a firm understanding of the industry.
Julian Robertson is one of the most successful and well-known hedge fund managers of our time. For nearly twenty years his infamous fund--Tiger Management--was the talk of the town, routinely delivering double-digit performance. This biography will explore this legendary fund manager's role in the development and popularity of hedge funds, examine his investment methodology and strategy, and look at the growth of his fund and his 'Tigers'--individuals who have gone on to great success themselves.
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