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David L. Ward

Member

[email protected]

+1.617.348.4860

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David Ward focuses his practice on financial services regulatory matters, internal investigations and related litigation. He represents financial services clients throughout the United States, including broker-dealers, investment advisors, banks, pension consultants, insurance companies and publicly traded entities before the SEC, FINRA, CFTC, U.S. Department of Justice and state regulators. David regularly assists clients in internal investigations; the defense of regulatory investigations, sales practice issues, corporate governance matters and securities-related litigation in state and federal courts nationwide. He also advises clients on compliance issues, and has acted as the Independent Compliance Consultant in Massachusetts Securities Division matters.

David also represents firms, directors and officers in employment litigation, including discrimination, wrongful termination, recruiting and "raiding" matters, compensation and separation agreements, and Form U-4 / U-5 issues. He is nationally recognized in this field and has litigated hundreds of employment matters across the country.

Education

  • Oklahoma City University (JD)
  • Oklahoma City University (BS)

Experience

  • Represented broker-dealer in an investigation of its alleged market timing of mutual funds that involved numerous agencies: the Massachusetts Securities Division, the SEC, the New Jersey Attorney General’s Office, the New York Attorney General’s Office, the New York Stock Exchange, the National Association of Securities Dealers, Inc., and the DOJ.
  • Represented financial institutions and corporate officers in SEC and FINRA investigations involving allegations of securities laws violations, including insider trading, market manipulation, free-riding, and front-running.
  • Represented broker-dealers in employment matters in state and federal courts, and subsequent arbitrations, including cases alleging discrimination, wrongful termination, U-5 defamation, raiding, violation of trade secrets acts and violation of Regulation S-P.
  • Advised broker-dealers in U-4 and U-5 disclosure matters to the SEC, FINRA, and state regulatory agencies. 
  • Represented broker-dealers in regulatory investigations relating to mutual fund break points, front-running, auction-rate securities, sale of structured products, failure to supervise, churning, unsuitability and unauthorized trading.
  • Represented broker-dealers in regulatory investigations relating to Ponzi schemes perpetrated by employees and the subsequent regulatory and private litigation arising as a result.
  • Represented broker-dealers in arbitrations, as well as state and federal courts, regarding customer-initiated sales practice allegations. 
  • Defended investment bank in $125 million claim brought in federal court which ended in judgment for Defendants on all counts.

Recognition & Awards

  • Massachusetts Super Lawyers: Securities Litigation (2019)

Involvement

  • Member, SIFMA Compliance and Legal Division
  • Member, Boston Bar Association
  • Member, New York Bar Association
  • Member, Florida Bar Association
  • Member, Montana Bar Association
  • Member, Florida Securities Dealer Association
  • Volunteer Counsel, KIND (Kids in Need of Defense)
  • Returned Peace Corp Volunteer, Guatemala

Languages

- Spanish

Recent Insights

News & Press

Viewpoints

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FINRA Issues Guidance on Net Capital Treatment of PPP Loans under the CARES Act

April 17, 2020 | Blog | By Pete Michaels, David L. Ward

In its online forum regarding COVID-19/Coronavirus, FINRA has issued guidance related to PPP loans.
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Several State Securities Regulators continue to warn investors of investment scams involving COVID-19.
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In its online forum regarding COVID-19/Coronavirus, FINRA stated that a loan received pursuant to the Paycheck Protection Program (PPP) does not necessarily trigger a disclosure on the Form U-4
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Fed To Add COVID-19 as Essential New Element to Bank Stress Tests

April 13, 2020 | Blog | By Pete Michaels, David L. Ward

The Federal Reserve (Fed) announced that it is modifying this year's stress test to reflect how banks have performed during the COVID-19 pandemic.
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SEC (OCIE) Issues Risk Alerts Concerning Reg. BI

April 9, 2020 | Blog | By David L. Ward

The SEC’s Office of Compliance Inspection and Examinations (OCIE) issued two risk alerts relating to Regulation Best Interest (Reg. BI).
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SEC Says No Reg. BI Extension Despite COVID-19 Concerns

April 6, 2020 | Blog | By David L. Ward

In a Statement on April 2, the Chairman of the Securities and Exchange Commission (SEC), Jay Clayton, announced that the June 30, 2020 timeline for implementation of Regulation Best Interest (“Reg. BI”) will remain.
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FINRA Posts Additional Cybersecurity Alert in Response to COVID-19

April 6, 2020 | Blog | By David L. Ward, Cynthia Larose

As we reported here, FINRA issued guidance to member firms and their associated persons earlier this month to remain “vigilant in their surveillance against cyber threats and take steps to reduce the risk of cyber events.”
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Massachusetts Securities Division Rolls Out Final Version of Fiduciary Duty Rule

March 3, 2020 | Blog | By Pete Michaels, Michael Pastore, Jason Burrell, David L. Ward

The Massachusetts Securities Division (the “Division”) has announced that they will begin to apply a fiduciary conduct standard to broker-dealers and agents when dealing with their customers.
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Massachusetts Securities Division Expands Jurisdiction to Non-Securities

February 10, 2020 | Blog | By Pete Michaels, David L. Ward

The Enforcement Section of the Massachusetts Securities Division (“MSD”) recently filed an Administrative Complaint against Ryan Patrick Skinner (“Skinner”) and related entities Summit Financial Partners and Summit Financial Ptrs Inc of Woburn, MA (together, “Summit”). 
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News & Press

This feature story highlights the arrival of Members Pete Michaels and David Ward. The article describes their focus on financial services litigation and regulatory matters. The article includes commentary from Pete describing why Mintz was the right fit in terms of size, practice synergy and culture.