FINRA 5130 Arbitration Attorney |Securities Practice|

FINRA 5130 & 5131

FINRA Rule 5130 generally restricts, among other things, broker-dealers (or persons associated with them) from selling shares of a new issue, to an account in which a restricted person has a beneficial interest.

  • Rules 5130 and 5131 (the “Rules”) promote fairness in the allocation of new issues of equity securities.
  • Rule 5130 prevents broker-dealers and portfolio managers from receiving shares of equity securities in IPOs (“new issues”).
  • Rule 5131 prevents broker-dealers from allocating new issues to individuals who have the authority or ability to direct their company’s investment banking business to the broker-dealer making the allocation.
  • Technically, the Rules apply only to broker-dealers, but they impact the operations of other types of firms, including fund managers, that must make representations to broker-dealers as to the nature of their investors in order to receive new issue allocations.

Other FINRA Rules That May Affect Your Business

Our Law Firm Provides Legal Counsel & Representation for a Range of Securities & FINRA-Related Cases.

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FINRA Arbitration

Nearly all disputes in the securities industry are resolved through arbitration before FINRA panels. We have been involved in over 100 arbitrations since 2002. Read More »
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Investment Fraud

We have represented investors and brokers in disputes around the country, both in litigation and in regulatory inquiries. Read More »
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Complaints & Disputes

We have successfully resolved investor claims and disputes between brokers and their firms, whether the dispute is over investment losses or brokers moving their books of business. Read More »
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Contract Disputes

We help brokers review employment contracts with new employers or resolve issues related to their agreements with employers they want to leave. Read More »
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Settlement Negotiations & Mediation

We have been involved in dozens of mediations and settlement talks over the past two decades, helping brokers resolve conflicts that would otherwise have derailed their careers. Read More »
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FINRA vs. AAA

Along with FINRA arbitrations, we have also handled disputes before panels of the American Arbitration Association. We can help you navigate either forum. Read More »

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Securities Practice Group

The Law Offices of Christopher H. Tovar, PLLC
3990 Chilson Road
Howell, MI 48843
(832) 370-3908

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The Law Offices of Christopher H. Tovar, PLLC are headquartered in Southeast Michigan. Christopher H. Tovar is licensed in Michigan, Texas, Florida, New York, and Illinois and operates nationwide.*

* Michigan, Florida, Illinois, California, and New Jersey require bar membership to arbitrate FINRA cases in their jurisdictions. The Law Offices of Christopher H. Tovar, PLLC maintains relationships with attorneys in all 50 states and can arbitrate your case on a pro hac basis.

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