Ben A. Indek

Ranked since 2008, Chambers USA noted that Ben has been described by securities industry insiders as a “knowledgeable and personable attorney” who is “always prepared, measured and unflappable, even in difficult situations” and as having a “very strong” regulatory enforcement practice with “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 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. He speaks regularly at SIFMA Compliance & Legal Society seminars. 

From 1984–1987, Ben served as a compliance officer for E.F. Hutton & Co where, among other duties, he managed the company’s surveillance program. 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 previously served as co-managing partner of the firm’s New York office and as chair of the Audit Committee and on the Advisory Board. Ben was also the leader of the firm’s securities enforcement and litigation practice for several years.

Ben currently serves on the board of directors of Legal Services NYC, a non-profit that assists low income New Yorkers meet their basic needs for housing, access to high-quality education, healthcare, family stability, and income and economic security.

Representations of broker-dealers and their employees in SEC and FINRA investigations include matters in the following areas:

• 529 College Savings Plans
• Supervision of concentrated positions (including high yield bonds)
• Large Options Positions Reporting (LOPR)
• Electronic Blue Sheet reporting
• 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  
• Regulation SHO 
• Mutual fund share class selection, suitability, supervision, and record keeping 
• Unit Investment Trust suitability and supervision
• Operational issues, including prospectus delivery and  proxy voting 
• Research report disclosures 
• Registration and customer complaint reporting issues, including Form U4/U5 filings 
• OATS and TRACE Reporting
• Order marking requirements, including origin codes on options orders