Financial Services Litigation
From financial service providers to institutional and individual customers, we represent the full spectrum of clients in financial services litigation. Tonkon Torp’s financial services litigation experience covers a broad range of disputes, including:
  • Broker-dealer arbitrations
  • Investment adviser disputes
  • Claims arising from transactions undertaken by investment funds
  • Enforcement efforts by both governmental and non-governmental regulators
For advice and transactional services in this area, clients turn to our Financial Services & Investment Management team.

Our representative matters include:
  • Representing a local investment management firm in a dispute with a Los Angeles-based finance company concerning a structured finance transaction. The opponent sought more than $20 million in compensatory damages plus additional punitive damages, alleging fraud and breach of contract. We not only successfully defended against those claims, but won more than $1.8 million for our client for related counterclaims.
  • Defending in arbitration a local, family-owned securities brokerage against claims of unauthorized and unsuitable trading.
  • Resolving a FINRA-initiated complaint against a local broker-dealer accused of violating rules regarding publication of research reports and trading during blackout periods.
  • Resolving state regulators' claims of violations against managers of an investment fund related to exemptions from registration and investor accreditation.
  • Pursuing claims for churning, unsuitability, and failure to supervise against a national brokerage firm.
  • Defending investigations and responding to subpoenas from regulatory agencies and third-parties, including on behalf of individual directors and executives, as well as financial services firms.

Confidential

(Multnomah County Circuit Court) – Successfully represented local investment management firm in dispute with a Los Angeles based finance company concerning a structured finance transaction. The opponent sought more than $20 million in compensatory damages plus additional punitive damages, alleging fraud and breach of contract. Successfully prosecuted Client's damages claims for more than $1.8 million for breach of contract and non-payment of note obligations.

Confidential

(NASDR Arbitration) – Achieved a favorable result in arbitration in the defense of a local, family-owned securities brokerage against claims of unauthorized and unsuitable trading.

PEBB v. OHSU

Successfully pursued Oregon Health & Science University’s right to recover a proportionate share of approximately $25 million, including interest, received by the state from the 1999 demutualization of Standard Insurance Company. (Marion County Circuit Court/Oregon Court of Appeals)

SEC Publishes Revised Investment Adviser Marketing Rule, Effective May 4, 2021

At long last, the SEC has finally published its Revised Investment Adviser Marketing Rule. effective as of May 4, 2021. Investment advisers will have 18 months following the effective date, or until November 4, 2022, to come into compliance with the…
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Elder Abuse Prevention and Prosecution Act

We previously talked about recent changes to Oregon law and FINRA rules relating to elder abuse prevention and the prosecution of financial services companies for noncompliance. This article focuses on The Elder Abuse Prevention and Prosecution Act…
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Vulnerable Person Abuse Protections Coming to FINRA in 2018

Similar to the Oregon legislature's recent changes to ORS Chapter 59, intended to protect "vulnerable persons" against financial exploitation, FINRA has implemented changes to its rules effective February 5, 2018, intended to protect "specified adult…
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SEC's Office of Compliance Inspections and Examinations Priorities for 2018

On February 7, 2018, the Security and Exchange Commission's Office of Compliance Inspections and Examinations announced its 2018 examination priorities. For 2018, OCIE's priorities fit into five broad categories.
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New “Financial Abuse” Mandatory Reporting Requirements for Oregon Investment Adviser Representatives

Effective January 1, 2018, Oregon's securities regulation laws started imposing a mandatory reporting requirement in certain circumstances on "qualified individuals"—including investment adviser representatives—to protect "vulnerable persons" from…
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Investment Adviser Update: Revised Form ADV Began October 1st

Effective October 1, 2017, investment advisers must adhere to amended requirements regarding the investment adviser public disclosure form (Form ADV). The Securities Exchange Commission (the SEC) announced these amendments in 2016. The new Form ADV…
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DOL Fiduciary Rule Delayed for 60 Days

Today, April 7, 2017, the Federal Register published the U.S. Department of Labor's (DOL) final rule extending the applicability date of the ERISA Fiduciary Rule from April 10, 2017 to June 9, 2017. A copy of the final rule is available here. Other…
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Temporary Guidance for Fiduciary Rule Compliance

On Friday, March 10, 2017, the Department of Labor (DOL) issued a field assistance bulletin (FAB) adopting a temporary enforcement policy regarding compliance with the ERISA Fiduciary Rule. The ERISA Fiduciary Rule is set to go in effect on April 10…
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Fiduciary Rule's Status Uncertain

On Friday, February 3, 2017, the President signed an executive order requiring the re-examination of the final Fiduciary Rule (81 Fed. Reg. 20946 (April 8, 2016)) set to go into effect on April 10, 2017. The Fiduciary Rule, which was the subject of…
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DOL Major Changes to Fiduciary Investment Adviser Definition and Prohibited Transaction Exemptions - Part 3

On April 6, 2016, the U.S. Department of Labor (the "DOL") issued final regulations expanding the definition of who is a fiduciary and what constitutes fiduciary advice to ERISA-covered employee benefit plans, as well as a new fiduciary adviser…
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Tonkon Torp Litigators Share Expertise in Oregon Civil Pleading and Litigation Publication

Tonkon Torp litigators have contributed their expertise to a new treatise on civil litigation practice, Oregon Civil Pleading and Litigation.
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Best Lawyers in America® Includes 49 Tonkon Torp Attorneys on 2021 List

Forty-nine Tonkon Torp lawyers representing 36 practice areas have been selected for inclusion in The Best Lawyers in America® 2021. A majority of attorneys have been named to the peer-review list in past years, and most have been recognized for more…
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Financial Services Attorneys Host COVID-19 Impact Webinar for Investment Advisors

Tonkon Torp Financial Services attorneys Jessica Morgan, Christopher Pallanch and Jarell Hunt hosted a webinar for investment advisors and private fund managers to explore how COVID-19 has impacted regulations, compliance requirements, examinations…
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Anna Sortun and Ryan Bledsoe Admitted to International Society of Barristers

Tonkon Torp litigation partners Anna Sortun and Ryan Bledsoe have been admitted as Fellows to the International Society of Barristers. The organization is an honor society that maintains a worldwide membership of less than 750 trial lawyers deemed by…
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Tonkon Torp Practice Areas Ranked in 2020 U.S. News "Best Law Firms" Publication

U.S. News – Best Lawyers® has released its 2020 edition of "Best Law Firms." Tonkon Torp is once again ranked among the nation's best for six business law service categories including Land Use & Zoning Law, Securities Regulation, Commercial…
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Best Lawyers in America® Names 51 Tonkon Torp Attorneys to 2019 List

Fifty-one Tonkon Torp lawyers representing 41 practice areas have been selected for inclusion in The Best Lawyers in America® 2019. Nearly all attorneys have been named to the list in past years, and have been recognized for more than five years
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Best Lawyers in America® Names 49 Tonkon Torp Attorneys to 2018 List

Forty-nine Tonkon Torp lawyers representing 39 practice areas have been selected for inclusion in The Best Lawyers in America® 2018. Nearly all attorneys have been named to the list in past years, and have been recognized for more than five years…
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Best Lawyers in America® Names 44 Tonkon Torp Attorneys to 2017 List

Forty-four Tonkon Torp lawyers representing 38 practice areas have been selected for inclusion in The Best Lawyers in America® 2017. Each attorney has been named to the list in past years, and nearly all have been recognized for more than five years…
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Tonkon Torp Announces Two New Partners

Tonkon Torp LLP has elected Blerina Kotori and Christopher Pallanch to the partnership, effective January 1, 2016. Both attorneys started their private practices as associates for the firm. Kotori began at the firm as a summer associate and was the…
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U.S. News Ranks Tonkon Torp Practice Areas in "Best Law Firms" Publication

The U.S. News & World Report Best Lawyers 2016 edition of Best Law Firms has been released and Tonkon Torp is again ranked among the nation’s best for Commercial Litigation, Corporate Law, Litigation – Regulatory Enforcement (SEC, Telecom, Energy…
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Christopher  Pallanch
Practice Area Chair

Christopher Pallanch

Partner