Ben A. Indek focuses his practice on representing broker-dealers and their employees in governmental, self-regulatory organization, and state securities commission investigations, and conducting internal investigations for such firms. Ben also counsels clients on regulatory and compliance issues, with a particular emphasis on assisting firms in self-reporting matters under FINRA Rule 4530(b); he acts as counsel to a broker-dealer self reporting committee. Ranked for the last nine years, Chambers USA noted that Ben has been described by securities industry insiders as “always prepared, measured and unflappable, even in difficult situations” and as having a “very strong” regulatory enforcement practice and “a style that goes down well with regulators.”
An author of many articles on broker-dealer regulation and enforcement issues, in 2006 Ben developed the firm’s annual publication “Select SEC and FINRA Broker-Dealer Cases and Developments”; he continues to be the lead author of that outline. Previously, Ben co-authored “Securities Litigation and Enforcement,” a regular column appearing in the New York Law Journal. Ben and Christian J. Mixter, a partner at Morgan Lewis, co-authored an amicus brief filed on behalf of the National Society of Compliance Professionals with the SEC in connection with In the Matter of Theodore Urban.
From 1984-1987, Ben served as a compliance officer for E.F. Hutton & Co. During his tenure at Morgan Lewis, he has served on the FINRA Independent Dealer/Insurance Affiliate Committee, NASD’s Market Regulation Committee, NYSE’s Electronic Communications Task Force, and NSCP’s Board of Directors.
Ben is chair of the firm’s Audit Committee, and is the co-managing partner of the New York Office. He previously served for six years on the firm’s Advisory Board.
Recent representations of broker-dealers and their employees in Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) investigations include matters in the following areas:
Write Once, Read Many (WORM) compliance, including record maintenance, retention, and audit requirements
Anti-money laundering laws, rules, and regulations
Electronic communications supervision and retention
SEC customer reserve formula and possession/control provisions
Municipal bond disclosures to investors and underwriting expenses
Structured and complex products sold to retail clients, including sales practices and supervision relating to leveraged and inverse Exchange Traded Funds (ETFs) and non-traded REITs
Algorithmic and high-frequency trading practices
Auction rate securities
Mutual fund and unit investment trusts suitability, supervision, pricing, and record keeping
Operational issues, including prospectus delivery, proxy voting, and electronic blue sheets
Research report disclosures
Registration and customer complaint reporting issues, including Form U4/U5 filings
NYSE, FINRA, and SEC trade practices and reporting
OATS and TRACE Reporting
Order marking requirements, including origin codes on options orders
New York Law School, 1992, J.D.
University of Vermont, 1984, B.A.
Awards and Affiliations
Ranked, Securities: Regulation: Enforcement, Nationwide, Chambers USA (2008–2018)
Recognized, Administrative/Regulatory Law, New York, The Best Lawyers in America (2007–2018)
Lawyer of the Year, New York City Administrative/Regulatory Law, The Best Lawyers in America (2013)