N. Nancy Ghabai, General Partner

CONTACT

EDUCATION
Suffolk University Law School,
J.D., cum laude, 1999

University of Vermont,
B.A., 1995

BAR ADMISSIONS
Massachusetts
Pennsylvania

COURT ADMISSIONS
United States District Court District of Massachusetts.

United States District Court Eastern District of Pennsylvania.

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Nancy Ghabai is the founder and managing partner of Ghabai Law Group LLC. Ms. Ghabai concentrates her practice on securities litigation and regulatory matters, primarily counseling and defending financial advisors, registered investment advisors (RIAs), broker/dealers and investment professionals.

For 15 years, Nancy Ghabai has delivered favorable results for her clients at each stage of litigation or through negotiated settlements. Ms. Ghabai represents her clients vigorously, aggressively and professionally – focusing on tailored solutions to meet their objectives.

Prior to founding the firm in 2016, Ms. Ghabai served as Senior Vice President, Associate General Counsel for LPL Financial LLC, the nation’s largest independent broker/dealer. Ms. Ghabai’s extensive experience includes defending customer-initiated securities arbitrations and mediations across the country before the Financial Industry Regulatory Authority (FINRA) in claims alleging unsuitability, misrepresentation/omissions, unauthorized trading, churning, fraud, failure to supervise and selling away. Ms. Ghabai also handles industry arbitrations before FINRA in claims alleging breach of contract, breach of fiduciary duty and other business torts.

Nancy Ghabai represents financial professionals in formal and informal inquiries, investigations and enforcement actions brought by the Securities and Exchange Commission (SEC), FINRA, state securities and insurance regulators and matters before the Certified Financial Planner (CFP) Board. Ms. Ghabai routinely counsels financial advisors on employment issues relating to non-competition and non-solicitation provisions, negotiation and repayment of promissory notes, Form U4/U5 language and expungement requests.

Over the course of her ten years as in-house counsel, Ms. Ghabai served on a number of firm committees and her counsel was routinely sought and valued by senior business leaders and compliance personnel in matters involving outside business activities, branch office supervision, advisor review and escalations, surveillance, trading, operations, customer remediation, complex product review, and hybrid/RIA matters, among others. Nancy Ghabai handled insurance coverage and reporting relating to errors and omissions (E&O) policies. Ms. Ghabai also developed and led the firm’s affirmative litigation efforts, successfully recovering funds provided for transition assistance.

Ms. Ghabai began her legal career at Stradley Ronon in Philadelphia as a litigation associate, handling complex commercial litigation in state and federal courts. Ms. Ghabai also worked at a securities litigation boutique firm in Boston, representing public pension funds in high-profile federal securities class actions.

Nancy Ghabai received her J.D., cum laude, from Suffolk University Law School, where she served on the Suffolk Transnational Law Review. Ms. Ghabai received her B.A. in Political Science and American Literature from the University of Vermont. Ms. Ghabai holds a Series 7 General Securities Representative License.

Representative Matters (including matters handled at previous firms)

  • Obtained dismissal of a customer initiated unsuitability and misrepresentation claim against a broker/dealer involving the sale of variable annuity policies after a full evidentiary hearing before FINRA. Obtained expungement for the financial advisor.
  • Successfully defended broker/dealer in a 5-day multi-million dollar industry arbitration involving claims asserted by a former financial advisor for wrongful termination.
  • Defended a registered investment advisor against customer complaints involving inverse and inverse leveraged exchange traded funds (“ETFs”). Negotiated and resolved disciplinary proceedings with FINRA and state regulators.
  • Successfully obtained a directed verdict in favor of a broker/dealer after the conclusion of Claimant’s case involving claims by former financial advisors alleging breach of contract, failure to supervise and other business torts.
  • Investigated, negotiated and resolved an investigation by a state securities regulator into the broker/dealer involving a defalcation by a former financial advisor. Negotiated the consent order. Directed enhancements to broker/dealer operational procedures pursuant to the terms of the order.

SPEAKING ENGAGEMENTS

  • Panelist, Life Cycle of a Securities Sales Practice Dispute, Boston Bar Association (October 2015)
  • Panelist, Advanced Mediation and Advocacy Skills, ABA Section of Dispute Resolution (November 2012)
  • Panelist, Branch Office Supervision, North American Securities Administrators Association (NASAA) (June 2007)