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California Financial License Defense Attorney

We defend licensed financial professionals in California

California Investment Advisor License Defense Attorney

California Department of Investment Advisor License Defense Lawyer

The California Department of Business Oversight, known as DBO, licenses several hundred thousand Investment Advisors in the State of California. Most California Investment Advisors have minimal or no contact with the enforcement arm of the California Department of Business Oversight. For Investment Advisors who become part of the California Department of Business Oversight’s disciplinary process, the consequences are profound. The Investment Advisor License disciplinary process is complex, procedural and time consuming. Investment Advisors facing the California Department of Business Oversight disciplinary process should seek legal representation from an experienced California Investment Advisor License Defense Attorney.

California Department of Business Oversight Investigation Defense Lawyer

The majority of California Department of Business Oversight investigations begin with the filing of a consumer Complaint. However, California Department of Business Oversight Investigations also occur through sting operations, criminal conviction referrals and criminal investigations. The California Department of Business Oversight employs non sworn Enforcement Representatives to conduct non criminal investigations. The California Department of Business Oversight employs sworn Peace Officer Investigators to conduct criminal investigations against Investment Advisors. These employees investigate criminal and administrative law violations. Administrative Law Due Process Rights differ substantially from the Due Process Rights accorded in criminal law.

It is important to have an attorney that understands the California Department of Business Oversight disciplinary process. At the conclusion of a California Department of Business Oversight investigation, the Department has several options. The Department can choose to close the Complaint. The Department can choose to issue a Citation. The Department can also choose to refer the matter to the Department of Business Oversight Legal Division. The Department of Business Oversight Legal Division will determine whether cause exists to file a formal disciplinary Accusation. In cases involving criminal conduct, the Department may refer the case to the District Attorney’s Office for criminal prosecution.

If you are a Investment Advisor Licensee facing a California Department of Business Oversight investigation, contact a California Department of Investment Advisor License Defense Attorney for representation.

California Investment Advisor License Accusation Defense Attorney

A formal Accusation served on a California Investment Advisor Licensee serves as notice to an Investment Advisor that the Department intends to revoke the Investment Advisors’ License. The Investment Advisor, now called the Respondent, has only 15 days from the date that the Accusation was served (not received, but served) to file a Notice of Defense. The failure to file a Notice of Defense results in a Default against the Investment Advisor. A Default will result in the immediate Revocation of the Investment Advisors’ License.

An Accusation is a serious matter that can result in the suspension or revocation of an Investment Advisor License in California. In many cases, it is possible for Investment Advisors to reach a Stipulated Agreement with the California Department of Business Oversight. A Stipulated Agreement is a formal term for a settlement agreement. If a Stipulated Agreement cannot be reached, the parties will proceed to a formal Hearing before the California Office of Administrative Hearings (OAH).

Investment Advisors facing a California Department of Business Oversight Accusation should contact an experienced California Investment Advisor License Defense Attorney for representation. Common causes of action for disciplinary Accusations against Investment Advisors include:

  • Accepting or Paying Referral Fees
  • Aiding and Abetting the Unlicensed Practice of Investment Advising
  • Breach of Fiduciary Duty
  • California Corporate Securities Law Violations
  • California Corporations Code Violations
  • Dishonesty, Fraud or Deceit
  • Elder Abuse
  • Failure to Report Violations
  • Incompetence
  • Misrepresentation
  • Negligence
  • Repeated Acts of Negligence
  • SAFE Act Violations
  • Securities Fraud
  • Unprofessional Conduct
  • Willful Violations

California Investment Advisor License Hearing Attorney

The California Office of Administrative Hearings, also known as OAH, maintains several Court Hearing locations. These Court locations are in Los Angeles, Oakland, Sacramento and San Diego. In some instances, Hearings may be held offsite in Bakersfield, Fresno, Orange County, Riverside, San Bernardino, San Francisco, San Jose or Ventura. The Administrative Law Hearing is a formal Hearing before an Administrative Law Judge.

The Administrative Law Judge, or ALJ, will issue a written Proposed Decision approximately 30 days after the Hearing. The California Department of Business Oversight can adopt, modify or reject the ALJ’s Proposed Decision. The California Department of Business Oversight’s action is called the Final Decision and Order. There are two main rights of Appeal of a Final Decision and Order. California Government Code § 11521 allows an Investment Advisor to file a Petition for Reconsideration prior to the effective date of the Final Decision and Order. Pursuant to California Code of Civil Procedure § 1094.5, the Investment Advisor can also file a Petition for Writ of Mandamus in Superior Court. A Writ must be filed within 30 days of the effective date of the Final Decision and Order.

California Investment Advisors facing a California Department of Business Oversight Administrative Law Hearing need effective representation from a California Investment Advisor License Defense Lawyer.

California Investment Advisor License and Criminal Convictions

The California Department of Business Oversight can discipline Investment Advisors for criminal convictions. California Department of Business Oversight discipline occurs for criminal convictions that are substantially related to the duties, functions and qualifications of an Investment Advisor. Common criminal offenses that can cause Investment Advisor License discipline are:

  • Altering or Forging a Prescription
  • Assault With a Deadly Weapon
  • Battery
  • Brandishing a Firearm
  • Burglary
  • Carrying a Concealed Weapon
  • Child Abuse
  • Child Endangerment
  • Diverting a Controlled Substance
  • Domestic Violence
  • DUI
  • Elder Abuse
  • False Imprisonment
  • Forgery
  • Fraud
  • Hit & Run
  • Identity Theft
  • Insurance Fraud
  • Medicare Fraud
  • Mortgage Fraud
  • Possession for Sale of a Controlled Substance
  • Possession of a Controlled Substance
  • Public Intoxication
  • Real Estate Fraud
  • Robbery
  • Sex Offenses
  • Theft
  • Trespass
  • Vandalism
  • Vehicular Manslaughter

The California Department of Business Oversight and other law enforcement agencies also investigate criminal conduct by Investment Advisors in the course and scope of their trade. Criminal investigations often involve Investment Advisors engaged in Elder Financial Abuse, Forgery, Fraud and Theft. In serious criminal cases against Investment Advisors pending in Criminal Court, the California Department of Business Oversight and the Department of Business Oversight Legal Division may seek a California Penal Code § 23 Order against the Investment Advisor. A California Penal Code § 23 Order seeks to suspend an Investment Advisor License in Criminal Court.

Investment Advisors facing criminal charges and Investment Advisors who are convicted of criminal offenses need an experienced California Investment Advisor License Defense Attorney for representation in disciplinary proceedings before the California Department of Business Oversight.

California Investment Advisor License Statement of Issues Attorney

The California Department of Business Oversight thoroughly investigates all applicants for Investment Advisor Licenses. The California Department of Business Oversight may deny a California Investment Advisor License for a variety of reasons. Most California Investment Advisor License denials occur due to criminal convictions, financial problems or misstatements on the Investment Advisor License application. Statement of Issues Hearings and Accusation Hearings before the Office of Administrative Hearings maintain a similar procedure. However, in a Statement of Issues Hearing, the applicant bears the burden of proof. Individuals denied an Investment Advisor License should contact a California Investment Advisor License Denial Lawyer for representation in a California Department of Business Oversight Statement of Issues Hearing.

California Investment Advisor License Petition for Reinstatement Lawyer

A Petition for Reinstatement allows Investment Advisors who have received an Investment Advisor License Revocation to reinstate their License. The Petition for Reinstatement must show by clear and convincing evidence the factual and legal reasons to warrant the Investment Advisor License Reinstatement. Rehabilitation from past misconduct is the primary factor in a Petition for Reinstatement before the California Department of Business Oversight. A successful Investment Advisor License Petition for Reinstatement requires representation by an experienced California Investment Advisor License Defense Attorney.