Attorneys from Mayer Brown, a leading global law firm, successfully appealed a permanent bar against Citigroup/Smith Barney registered representative Carl Trevisan by a hearing panel of the Financial Industry Regulatory Authority (FINRA).
In barring Mr. Trevisan, the FINRA panel had said he intentionally entered false disability waivers of contingent deferred sales charges on mutual funds and then lied to the Hearing Panel under oath. Mayer Brown appealed the ruling to the National Adjudicatory Council (NAC), the official appellate body of FINRA, which found that Mr. Trevisan had not acted intentionally. The NAC vacated the permanent bar, ordered no period of suspension and imposed a minimal fine of $5,000. (Click here
to access the NAC decision.)
"Reversal of a permanent bar and no suspension is an extremely rare, if not unprecedented, action by the NAC," said Bruce Bettigole, the partner in Mayer Brown's Washington, D.C. office who led the effort. "In this case, the NAC reviewed the evidence thoroughly and made the correct determination."
The Mayer Brown team also included Washington, D.C. associates Akrivi Mazarakis and Andrew Adair.
Lawyers in Mayer Brown's Securities Enforcement & Investigations practice have extensive experience defending the full range of investigations conducted by the SEC, FINRA (formerly NYSE and NASD), CFTC, PCAOB, individual states, and other self-regulatory organizations (SROs) on behalf of institutional and individual clients. Practice members also are active in parallel multinational investigations and litigation, dealing with the complex cross-border issues implicated in handling simultaneous matters brought by a company or individual's home regulatory authority and another nation's regulator. The practice comprises more than 40 lawyers, many of whom are former securities regulators, government prosecutors and senior law enforcement officials, who provide experienced, "on-the-ground" securities enforcement representation in the leading financial centers of Europe, Asia and the United States.