Justin J. D'Elia focuses his practice in the areas of securities litigation and regulatory investigations. Mr. D’Elia regularly represents brokerage firms and financial advisers in Financial Industry Regulatory Authority (FINRA) arbitrations, which assert allegations of sales practice violations such as fraud, misrepresentation, selling away, unsuitability and churning. He has represented clients during on-the-record testimony, hearings, trials and on appeals before regulatory bodies, such as FINRA, the SEC, the Department of Justice, state securities regulators, the Chicago Mercantile Exchange Group, the New York Mercantile Exchange, and the Public Company Accounting Oversight Board. Mr. D’Elia is accomplished in defending his clients during regulatory matters against a wide range of alleged market manipulation activity and sales practice misconduct, as well as other securities rule violations.
His practice further includes representation of companies and individuals in connection with federal class action litigation, and complex commercial litigation. He also regularly advises companies on compliance and supervisory policies and procedures, as well as current litigation and regulatory trends.
Mr. D’Elia is experienced in prosecuting, or defending, brokerage firms and associated persons in competition claims based in tort or the underlying contracts. He has substantial experience representing FINRA member firms in employment-related arbitration proceedings involving allegations of wrongful termination, unpaid commissions, restrictive covenants, and the collection of promissory notes.
Mr. D'Elia was recognized with the Duane Morris Pro Bono Award for his outstanding pro bono work in obtaining asylum for an Iraqi citizen who aided American forces as well as derivative asylum for his family.
Areas of Practice
- Broker-Dealer Representation
- Securities Regulation and Litigation
- Corporate Compliance
- Commercial Litigation
- White-Collar Defense
- Employment Litigation
- Obtained from a Chief Administrative Law Judge an order of no penalty for any misconduct on behalf of a broker concerning SEC allegations of a Ponzi scheme at an investment firm.
- Represented a multinational investment bank in obtaining a unanimous ruling from a Financial Industry Regulatory Authority (“FINRA”) arbitration panel, which granted the client’s motion to dismiss and declared that the churning and suitability claims against the client were ineligible for submission to arbitration.
- Obtained in the U.S. District Court for the Southern District of New York a dismissal on behalf of Track Data Securities Corporation, a securities broker, in the Tribune Company Fraudulent Conveyance Litigation case. The court found that the client did not clear, carry or hold customers' funds or securities, and did not trade in Tribune shares for its own account.
- Won dismissal of putative class action for national bank in U.S. District Court for the Southern District charging violations of New York’s Exempt Income Protection Act (EIPA) and New York common law.
- Represented numerous financial institutions, corporations and individuals in arbitrations before FINRA and AAA concerning alleged violations of securities law and regulations as well as enforcement and compliance matters.
- Obtained dismissal of class action suit against one of the 15 largest U.S. banks alleging it violated the federal Electronic Funds Transfer Act.
- Conducted an internal investigation of a publicly held company and advised the company on issues concerning corporate governance.
- Negotiated and settled mass fraud claims involving customer participants in the initial public offering of a publicly held company.
- Represented a broker-dealer in a FINRA proceeding relating to the company’s alleged improper delivery of new issue disclosure documents.
- New York
- U.S. District Court for the Eastern District of New York
- U.S. District Court for the Southern District of New York
- New York Law School, J.D., 2005
- College of the Holy Cross, B.S., 2002
- Duane Morris LLP
- Partner, 2017-present
- Special Counsel, 2016
- Associate, 2006-2016
- Securities Industry and Financial Markets Association (SIFMA) Compliance and Legal Division
- New York State Bar Association
Quoted, "Stonewalled by FINRA, Up to 40 Crypto Securities Wait in Limbo for Launch," CoinDesk, June 17, 2019
- Featured in "Litigator in the Spotlight" by Jan Wolfe, The American Lawyer, January 2013
- Co-author, "U.S. Financial Reform: Creation of the Consumer Financial Protection Bureau," Duane Morris Alert, August 24, 2010