Best Securities Lawyers in Buffalo

About Securities Law in Buffalo, United States

Securities law covers the rules and regulations that govern the offer, sale and trading of investments such as stocks, bonds, mutual funds and interests in investment funds. In Buffalo, New York, securities matters are governed by a mix of federal law and enforcement and state law enforcement and remedies. Federal regulators set broad rules - for example requiring disclosure, combating fraud and supervising broker-dealers and investment advisers - while New York State has powerful anti-fraud statutes and local enforcement offices that pursue wrongdoing within the state. Courts in Buffalo and Western New York handle civil suits, and arbitration forums handle many broker and adviser disputes.

Why You May Need a Lawyer

Securities disputes and concerns can be complex and fact-sensitive. You may need a lawyer if you are facing any of the following situations:

- You suspect you were sold an investment that was misrepresented or unsuitable for your financial situation.

- Your broker or investment adviser has engaged in fraudulent conduct, unauthorized trading, or improper account handling.

- You lost money after following advice from an adviser who failed to disclose conflicts of interest.

- You are the target of an investigation by the SEC, FINRA or a state regulator.

- You received notice of a FINRA arbitration claim or are considering filing an arbitration claim against a broker-dealer.

- You believe you were a victim of a Ponzi scheme, insider trading or other investment fraud.

- You need help understanding your rights following a broker-dealer bankruptcy or firm failure.

- You want to file a complaint with a regulator or prepare for litigation or settlement negotiations.

Local Laws Overview

Several legal layers are relevant to securities matters in Buffalo:

- Federal securities law - The Securities and Exchange Commission enforces federal securities laws nationwide. Federal civil litigation and criminal prosecutions can follow violations of federal securities laws. Many rules also come from self-regulatory organizations such as FINRA, which oversees broker-dealers and administers arbitration.

- New York state law - New York has strong state-level securities enforcement. The Martin Act is a powerful New York statute that allows the New York Attorney General to investigate and prosecute securities fraud aggressively, with broad investigative tools and civil remedies. State enforcement can operate alongside federal enforcement.

- Registration and licensing - Broker-dealers, brokers and investment advisers do not operate in a regulatory vacuum. Broker-dealers and their representatives typically register with FINRA and may need state registrations as well. Investment advisers register either with the SEC or with New York State, depending on the size and scope of their business. Registered representatives must follow suitability and disclosure obligations under both federal and state standards.

- Dispute resolution - Many brokerage agreements include mandatory arbitration clauses that require disputes to go to FINRA arbitration rather than court. FINRA arbitration is a common route for investor recovery. Class actions and federal securities litigation are possible when claims meet the relevant thresholds and requirements.

- Local courts and venues - Buffalo falls within the Western District of New York for federal cases. State-level civil cases are filed in Erie County Supreme Court or other appropriate county courts. Choice of forum, contractual arbitration clauses and statute of limitations can all affect how and where a case proceeds.

Frequently Asked Questions

What should I do first if I suspect investment fraud?

Preserve all documents and communications related to the investment - account statements, trade confirmations, emails, marketing materials and any contracts. Contact the firm or adviser to request an explanation and note all responses. File a complaint with your firm, and consider contacting a securities lawyer promptly to assess your options and deadlines.

How do I know whether to file a complaint with FINRA, the SEC or a state regulator?

Each agency has a role. FINRA handles disputes involving broker-dealers and can administer arbitration. The SEC enforces federal securities laws and investigates serious fraud and market misconduct. State regulators - including the New York Attorney General - can pursue violations under state law, including the Martin Act. A lawyer can advise which avenue is most appropriate based on the facts and desired remedies.

Can I sue my broker for losses in my account?

Possibly. Common claims include unsuitable recommendations, unauthorized trading, misrepresentation and breach of fiduciary duty. Whether you can sue depends on the account agreements, any arbitration clauses, the statute of limitations, and the strength of the evidence. A lawyer can evaluate your claim and explain next steps such as arbitration or litigation.

What is FINRA arbitration and how does it differ from court?

FINRA arbitration is a forum for resolving disputes between investors and broker-dealers. It is generally faster and more specialized than court litigation, and decisions are binding with limited grounds for appeal. Many brokerage agreements require arbitration, so understanding procedural rules and deadlines is important. An attorney experienced in FINRA matters can prepare your case and represent you before arbitrators.

What remedies can I seek if I am a victim of securities fraud?

Possible remedies include rescission of the investment, damages for losses, disgorgement of ill-gotten gains, restitution and punitive damages in some cases. Regulatory enforcement can lead to fines, injunctions and criminal charges. Recovery options depend on the forum and the nature of the wrongdoing.

How long do I have to bring a claim?

Limitation periods vary depending on the claim and forum. Arbitration rules and state and federal statutes of limitations may apply. Some time limits begin when you discovered the harm - others from the date of the wrongful act. Because deadlines can be strict, consult a lawyer promptly to protect your rights.

Will my case go to court or arbitration?

That depends on contracts and the nature of the claim. Many brokerage and advisory agreements include mandatory arbitration clauses that require FINRA arbitration. If there is no arbitration clause, you may be able to sue in state or federal court. Your attorney will review agreements and advise on the best forum for your objectives.

Can I get my money back if my adviser stole it?

If there is evidence of theft or misappropriation, recovery may be possible through civil claims, criminal restitution, or regulatory action. Recovery prospects depend on the adviser’s financial condition, insurance or surety bonds, and whether assets can be located. A lawyer can help coordinate civil remedies and reports to law enforcement and regulators.

What is the Martin Act and why does it matter?

The Martin Act is a New York statute that grants the Attorney General broad authority to investigate and prosecute securities fraud. It allows state enforcement actions with strong investigative powers and can be used to pursue complex fraud within New York. The Act is often relied on in state-level securities enforcement actions that affect investors in Buffalo and across the state.

How do I choose a securities lawyer in Buffalo?

Look for attorneys or firms with specific experience in securities litigation, FINRA arbitration, SEC and state enforcement defense or investor recovery. Ask about their track record in cases similar to yours, fee arrangements, experience with local courts and arbitration panels, and references. Contact the Erie County Bar Association or local legal referral services for vetted referrals.

Additional Resources

Useful organizations and resources for securities matters in Buffalo include federal, state and self-regulatory bodies, plus local legal groups. Consider contacting or researching the following:

- Securities and Exchange Commission - national regulator for securities markets and companies.

- Financial Industry Regulatory Authority - handles broker-dealer regulation and investor arbitration.

- New York State Attorney General - Investor Protection Bureau and enforcement under the Martin Act.

- New York State Department of Financial Services - oversees certain financial institutions and consumer financial protections.

- Western District of New York - federal court that hears securities litigation arising in Buffalo and Western New York.

- Erie County Supreme Court - state trial court for civil securities actions in Erie County.

- FINRA BrokerCheck - a tool for researching the background of brokers and firms.

- SEC Office of Investor Education and Advocacy - educational materials for investors regarding fraud and protections.

- Erie County Bar Association - local lawyer referral and resources to help find qualified counsel.

Next Steps

If you believe you need legal help with a securities matter in Buffalo, take the following steps:

- Gather documents - Collect account statements, trade confirmations, emails, contracts, marketing materials and any notes from conversations with advisers or brokers.

- Do not destroy evidence - Preserve electronic records and avoid altering documents or recordings.

- Ask for an explanation in writing - Request written clarification from the broker or firm, and keep copies of all correspondence.

- Contact regulators - You may file a complaint with FINRA, the SEC or the New York Attorney General if appropriate, but consult a lawyer first to coordinate filings.

- Consult an experienced securities attorney - Seek a lawyer who knows FINRA arbitration, federal and state securities enforcement and local courts. An early consultation helps identify deadlines, potential claims and the best strategies for recovery or defense.

- Consider alternative dispute resolution - Understand whether arbitration is required and whether mediation or settlement discussion could resolve the matter more quickly.

- Be mindful of timing - Statutes of limitations and arbitration rules create hard deadlines. Acting promptly preserves legal options.

Taking these steps will help you protect your rights and evaluate the best path forward for resolving securities issues in Buffalo.