Julian W. Friedman

Senior Counsel

friedmanj@ballardspahr.com
Tel 646.346.8019
Fax 212.223.1942
New York

Julian W. Friedman has more than 30 years of experience in complex commercial litigation and securities industry regulatory and administrative investigations and proceedings. Julian regularly represents clients before federal and state courts in New York and elsewhere, governmental agencies (such as the SEC, the CFTC, and state regulatory bodies), and securities and commodities industry self-regulatory organizations (such as the Financial Industry Regulatory Authority, the New York Mercantile Exchange, and the Chicago Board Options Exchange). He also conducts Continuing Legal Education programs for lawyers active in securities regulation, including but not limited to those employed by registered securities broker-dealers.

Julian's clients include securities and commodities brokers and dealers and their employees, public companies and their officers and directors, professional firms and their members and employees, privately held corporations and their directors and officers, and individuals engaged in commercial activities in various fields, including real estate management, health care, film and video production, and executive placement.

Julian's recent significant matters include:

  • A recently completed a trial before a FINRA Hearing Panel in which Julian represented an institutional trader at a large broker dealer who was accused of fraud based on allegations that he violated FINRA rules by purchasing securities from firm customers at a price that was unfairly low, and then re-selling those securities at a higher price for the benefit of the firm itself. In that action, the FINRA staff sought to bar Julian's client from the securities industry. At the conclusion of the trial (which involved numerous fact witnesses and expert witnesses on both sides), the FINRA Hearing Panel issued a 38-page decision dismissing the fraud charges on the basis of its finding that Julian's client did not act with an intent to defraud any customers. That decision (which suspended the client from association with a FINRA-member firm for a 30-day period constituting the low end of the FINRA Sanctions Guidelines) acknowledged that the client believed he was acting properly and in accordance with his obligations to the customers and the way in which other traders at the firm conducted their own activity, as well as his belief that others at the firm were checking his prices against those available in the marketplace, so that if a price he offered resulted in a completed transaction, that occurred because his offer was as good or better than the prices available from other dealers.
  • A trial before a FINRA Hearing Panel in which Julian represented a financial advisor who was accused of making unsuitable recommendations to his customers. It also involved both fact and expert witnesses. It resulted in a hearing panel decision completely exonerating Julian's client and dismissing all of the charges against him.
  • Representation of a senior compliance officer of a major financial services firm in an SEC investigation of the firm’s internal surveillance systems, and how those systems were designed and implemented for the review of transactions involving Residential Mortgage Backed Securities
  • Representation of a regional head of a large national financial services firm in an SEC investigation of the firm’s supervisory procedures
  • Representation of the Chief Compliance Officer of an international investment bank in connection with a FINRA investigation of the bank’s dealings in low-priced securities
  • Representation of a registered broker-dealer in various regulatory investigations of high-frequency trading in index options
  • Representation of a senior hedge fund marketing person in litigation arising from the firm’s sale of collateralized debt obligations
  • Representation of a broker-dealer in an SEC investigation of the distribution of initial public offerings

In addition to the litigation matters in which he has represented clients as an advocate, Julian also is actively engaged as a court-appointed and party-selected mediator in a variety of matters. He has engaged in active service as a mediator in both the U.S. District Courts for the Southern and Eastern Districts of New York since such court-annexed mediation programs began approximately 20 years ago. Julian serves in these positions on a pro bono basis.

Professional Activities

American Bar Association, member, Self-Regulatory Organization Subcommittee of the Securities Litigation Committee

New York State Bar Association, member, Securities Regulation Committee

New York City Bar Association

New York County Lawyers Association

Recognition & Accomplishments 

The Best Lawyers in America, administrative/regulatory law, 2007-2019

Named Best Lawyers' 2014 New York City Administrative/Regulatory Lawyer of the Year

AV Peer Review Rating, Martindale-Hubbell

Named to "Super Lawyers," 2007-2013

Named one of "New York's Best Lawyers," 2007-2013

Publications

Co-author, "Expungement of Defamatory Information from the CRD System: A Practical Guide To Cleaning up Your Past in Order To Protect Your Future,” Bloomberg BNA Securities Regulation & Law Report, July 8, 2013

Columbia Law School (J.D. 1969, cum laude)

University of Pennsylvania, Wharton School of Business (B.A 1966, cum laude)

New York

U.S. District Courts for the Southern and Eastern Districts of New York

U.S. Court of Appeals for the Second Circuit