Ian J. Frimet

Partner

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Ian's practice focuses primarily on providing regulatory counsel to broker-dealers and registered investment advisers; commercial and securities litigation; and corporate counseling. Ian represents regional broker-dealers, investment advisers, hedge funds and other financial services firms throughout the country advising on issues such as compliance, due diligence, best practices, structure, and litigation. He has appeared before the SEC and FINRA numerous times advancing the interests of his clients and defending them in this challenging regulatory environment. Ian's regulatory and due diligence expertise has resulted in him becoming a regular key speaker for the National Investment Banking Association (NIBA) and Financial Services Exchange (FSX).

His experience as a former financial advisor with the largest Wall Street brokerage firms provides him with a unique understanding of the business model and internal operations and governances of these organizations. As such, Ian focuses this practice area on defending his client's rights with respect to sales and trading operations, advertising, investment banking, wealth management, and fiduciary responsibilities.

Ian graduated from Villanova University in 2002 with a B.S. in Finance. In 2006, Ian accepted an Honors Scholarship from Hofstra University School of Law, receiving his J.D. in 2008. Upon graduation, he was awarded the Hofstra University School of Law Citation of Excellence in Corporate and Securities Law, an honor bestowed upon the highest ranked student in corporate and securities law courses in the graduating class. He was a member of the Securities Arbitration Clinic at Hofstra and served in a lead counsel and advisor role for three semesters.

Prior to attending law school, Ian served as a financial advisor with UBS in the private wealth management department and managed private client wealth for approximately three years. His business involved complex financial planning strategies involving asset allocation and wealth management, derivative protection and hedging through the use of options and convertible bonds, and tax-advantaged investment management. Ian later took a position as an institutional broker with the Dreyfus Corporation.

Ian joined the firm in May 2007 and became an equity partner in the firm in 2013.

Ian graduated from Villanova University in 2002 with a B.S. in Finance. In 2006, Ian accepted an Honors Scholarship from Hofstra University School of Law, receiving his J.D. in 2008. Upon graduation, he was awarded the Hofstra University School of Law Citation of Excellence in Corporate and Securities Law, an honor bestowed upon the highest ranked student in corporate and securities law courses in the graduating class. He was a member of the Securities Arbitration Clinic at Hofstra and served in a lead counsel and advisor role for three semesters.

Honors & Awards:

  • Named to SuperLawyers 2017 Rising Stars list
  • Named to SuperLawyers 2016 Rising Stars list
  • Named to SuperLawyers 2015 Rising Stars list
  • Named to SuperLawyers 2014 Rising Stars list

Speaking Engagements:

  • National Investment Banking Association (NIBA) – August 2011, Boston, MADue Diligence and Proposed FINRA Rule 5123 (click link for video)
  • Financial Services Exchange (FSX) – February 2011, Atlanta, GA – Broker-Dealer Due Diligence – A Necessary Level of Protection for your Sales Force
  • Financial Services Exchange (FSX) – January 2010, Dallas, TX – Private Placement Transactions in the wake of the Great Recession

Articles:

  • Letitia McKee Cooper, Cooper Trust DTD 10/05/200 v. Parmigiani

    Commercial Litigation & Securities Arbitration

    Claimants asserted the following causes of action: breach of fiduciary duty-suitability; fraudulent misrepresentation; negligent misrepresentation; negligence; unjust enrichment; and breach of contract. The causes of action relate to Claimants’ investment in unspecified common stock and exchange traded funds, and to options trading in Claimants’ account.

    Unless specifically admitted in the Statement of Answer, Respondent denied the allegations made in the Statement of Claim and asserted various affirmative defenses.

    Result: After considering the pleadings and all submissions regarding Respondent’s motion to dismiss, the Panel has decided in full and final resolution of the issues submitted for determination as follows:

    Respondent’s motion to dismiss pursuant to Rule 12206 of the Code is granted by the Panel without prejudice to any right the Claimants have to file in court; the Claimants are not prohibited from pursuing their claims in a court pursuant to Rule 12206(b) of the Code.

    Case Number: 15-03227

  • Stott v. Gregory T. Dean, Daniel Dvorznak, Anthony Minerva and Michael Valdini

    Commercial Litigation & Securities Arbitration

    Claimant asserted the following causes of action: unsuitability, failure to supervise, fraud, and misrepresentation.

    The causes of action relate to Claimant's investments in call option in Intuitive Surgical, Inc., Yelp, and Green Mountain Coffee, put options in Tesla and Netflix, and stock in Organovo Holdings, Inc.

    Result: The undersigned Arbitrator has decided and determined in full and final resolution of the issues submitted for determination as follows:

    • Claimant's claims are denied in their entirety.
    • All other relief requests are denied.
    • The Office of Dispute Resolution shall retain the $600.00 filing fee that Claimant deposited previously.
    • Respondents are jointly and severally liable for and shall pay to Claimant $300.00 to reimburse Claimant for one-half of the filing fee previously paid to the Office of Dispute Resolution.

    Case Number: 15-03158

  • J.D. Nicholas & Assoc. Inc. v. Regina & Teutonico

    Commercial Litigation & Securities Arbitration

    Summary: Claimant asserted the following causes of action: breach of contract, unjust enrichment, and indemnification.

    Relief Requested: In the Statement of Claim, Claimant requested:

    • Compensatory Damages: $16,350.00
    • Interest: Legal Rate of 9% per annum
    • Attorneys' Fees: Unspecified
    • Costs: Unspecified
    • Other: Unspecified

    Case Number: 13-03098

  • Dolan, Dvorznak, Tsikitas v. Salamone

    Commercial Litigation & Securities Arbitration

    Summary: Claimants asserted the following causes of action: breach of contract and unjust enrichment.

    • Unless specifically admitted in his Answer, Respondent denied the allegations made in the Statement of Claim and asserted various affirmative defenses.

    Relief Requested: In the Statement of Claim, Claimants requested compensatory damages in the amount of $43,312.50 plus interest at the rate of 9% per annum from April 8, 2010, attorneys' fees, and costs.

    • Respondent requested that Claimants' claim be dismissed with prejudice, that Claimants be assessed all forum fees, and for such other and further relief the Arbitrator deems just and proper.

    Case Number: 12-00341

  • Lall, Shabat and Spiegel v. Reuven Enterprises Securities Division, LLC v. Synergy Investment Group, LLC

    Commercial Litigation & Securities Arbitration

    Summary: Claimants asserted the following cause of action: failure to reimburse for the 2010 state registration fees. Unless specifically admitted in its Answer, Respondent denied the allegations made in the Statement of Claim and asserted various affirmative defenses.

    Relief Requested: In the Statement of Claim, Claimants requested compensatory damages in the amount of $5,687.00.

    Case Number: 10-03660

  • W&B secures dismissal of claims and expungement relief for client

    Commercial Litigation & Securities Arbitration

    Claimant asserted the following causes of action: unsuitability and unauthorized transactions, failure to supervise, and breach of fiduciary duty.
    The causes of action related to Claimant’s allegations that Respondents over concentrated Claimant’s accounts in unsuitable investments, such as GT Advanced Technologies, QiHoo 360 Technology, and Vasco Data Security International Inc.
    In the Statement of Answer, Respondents requested that all claims be denied, costs be assessed against Claimant, attorneys’ fees, and other relief as determined by the Arbitrator.

    Result:The undersigned arbitrator has decided and determined in full and final resolution of the issues submitted for determination as follows:

    1) Claimant’s claims are denied in their entirety.

    2) The expungement requests of Slipek, Murino, and Eisenberg are denied.

  • Bianco v. Dobarganes & International Monetary Capital Corp.

    Commercial Litigation & Securities Arbitration

    Claimant asserted that false and/or clearly erroneous information appears on his Central Registration Depository ("CRD") records. The cause of action relates to an online complaint filed on October 31, 2011, ("Online Complaint") against Claimant by Respondent Dobarganes as an officer/director of Respondent IMC regarding promissory notes.

    Relief Requested: In the Statement of Claim, Claimant requested expungement of all references to the Online Complaint from his CRD records, costs and such other relief deemed just and proper by the Panel.

    Case Number: 14-00320

  • Inneo v. Goodrich

    Commercial Litigation & Securities Arbitration

    Claimant asserted the following causes of action: unsuitability, misrepresentation, failure to disclose material facts, and violation of fiduciary obligations. The causes of action relate to Claimant’s investments in John Hancock Fds II Floating Rate Income Fund Class B (security symbol “JFIBX”), and Mainstay Fds Tr Floating Rate Fund Class B (security symbol “MXFBX”).

    Case Number: 14-02184

  • Parmigiani v. S.W. Bach & Company

    Commercial Litigation & Securities Arbitration

    Summary: Claimant asserted the following causes of action: defamatory statements and defamation per se.

    Relief Requested: In the Statement of Claim, Claimant requested expungement of his form U5 and reimbursement of filing fees.

    Case Number: 14-01067

  • Lance Verderosa vs, Salomon Whitney Financial

    Commercial Litigation & Securities Arbitration

    Claimant asserted the following cause of action: failure to repay loan.

    In the Statement of Claim, Claimant requested compensatory damages in the amount of $7,500.00 and costs in the amount of $325.00.

    Result: The undersigned Arbitrator has decided and determined in full and final resolution of the issues submitted for determination as follows: 1) Claimant's claims are denied in their entirety. 2) all other relief requests are denied. 3) FINRA Office of Dispute Resolution shall retain the $325.00 filing fee that the Claimant deposited previously. 4) Respondent is liable for and shall pay to Claimant $162.50 to reimburse Claimant for one half the filing fee previously paid to FINRA Office of Dispute Resolution.

    Case Number: 17-00762

  • Lureen v. Eplanning Securities Inc

    Commercial Litigation & Securities Arbitration

    Summary: Claimant asserted the following cause of action: improper and erroneous filing of customer complaint with CRD.

    Relief Requested: In the Statement of Claim, Claimant requested:

    • Compensatory Damages: $500.00
    • Attorneys' Fees: Unspecified
    • Costs: Unspecified
    • Other: Unspecified
    • Expungement: From CRD record

    Case Number: 11-02066

  • J.D. Nicholas & Assoc. Inc. v. Cape Securities, Inc., Webb, Yager, Lovett, and Nardella

    Commercial Litigation & Securities Arbitration

    Summary: Claimant asserted the following causes of action: defamation, tortious interference with a business relationship, negligent entrustment, and failure to supervise.

    Relief Requested: In the Statement of Claim. Claimant requested injunctive relief, compensatory damages of approximately $500,000.00 plus interest, punitive damages and attomeys' fees.

    Case Number: 12-01451

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