Michael A. Nagy is an experienced securities attorney and focuses his practice on the defense of claims made against brokers and broker-dealers throughout the United States, concentrating primarily on matters before the Financial Industry Regulatory Authority (FINRA). He provides representation on a wide range of securities matters including arbitration, mediation and litigation.
Michael frequently assists clients in responding to regulatory inquires, examinations and investigations brought by self-regulatory organizations and state securities regulators.
Michael also handles cases on behalf of individual and institutional investors whose accounts have been mishandled by their brokers or advisors. His experience enables him to provide focused and aggressive representation for investors who have been the victims of financial fraud, negligence, and unsuitable investments.
Michael has provided legal counsel to clients with matters venued in California, Connecticut, Delaware, Florida, Georgia, Illinois, New Hampshire, Minnesota, New Jersey, New Mexico, New York, Massachusetts, Nevada, Ohio, Oregon, Pennsylvania, Tennessee, Texas and West Virginia.
Of particular note, Michael has worked on more than 100 FINRA Arbitration proceedings and a multitude of regulatory matters involving a broad spectrum of investments including stocks, bonds, mutual funds, fixed and variable annuities, CMOs, limited partnerships, real estate investment trusts, debentures, notes, TICs, DSTs, and various other private placement and alternative investments including gas and oil ventures. He has experience handling claims of unsuitability, unauthorized trading, churning, selling away, negligence, misrepresentation and omission, breach of contract, breach of fiduciary duty, failure to supervise, violations of NYSE, NASD and FINRA conduct rules, and violations of state and federal securities laws, among others. Michael recognizes the need for a focused, cost-effective and results-oriented approach to handling such claims.
Michael’s background includes relevant experience as a licensed professional in the securities industry. He worked as a general securities representative / broker (Series 7 License), securities agent and investment advisor representative (Series 66 License), and life, accident and health insurance agent (Pennsylvania Insurance Producer’s License). Michael also gained significant experience while working as a financial planner for a boutique financial planning firm.
This past experience gives Michael a unique perspective on the defense and prosecution of financial institutions and investment professionals and an understanding of numerous facets of the securities industry and financial markets. He is well-versed in the complexities of the market and the intricacies of its regulation. As well, Michael’s familiarity with multiple types of investment and insurance products allows him to efficiently and effectively handle securities related matters. He has developed a keen understanding of the various regulatory and compliance issues faced by the broker-dealers and their registered representatives and is prepared to help his clients navigate the complex arena of securities litigation and regulation.
In 2003, Michael graduated from Mercyhurst University in Erie, Pennsylvania, magna cum laude, receiving a Bachelor of Arts degree in Business with dual concentrations in Finance and Business Management and a minor in Philosophy.
Michael earned his juris doctor at Duquesne University School of Law in 2008, where he served on the Business Law Journal, first as an Associate Editor then as an Executive Editor. Michael is the recipient of the prestigious Gerald K. Gibson Memorial Award for Excellence in Bankruptcy Law, and the CALI Excellence for the Future Award in both Securities Regulation and Family Law.
- Duquesne University School of Law – Juris Doctor
- Academic Honors:
- CALI Excellence for the Future Award – Securities Regulation
- CALI Excellence for the Future Award – Family Law
- Gerald K. Gibson Award for Excellence – Bankruptcy Law
- Award for Excellence in Securities Law – Securities Arbitration (Peer Awarded)
- Law Journal Experience:
- Business Law Journal: Executive Editor, “Comments” (2007-2008)
- Business Law Journal: Associate Editor, “Articles” (2006-2007)
- Academic Honors:
- Mercyhurst University – Bachelor of Arts, Business
- Dual Major Concentrations: Finance & Business Management
- Minor: Philosophy
- U. S. District Court, Western District of Pennsylvania
- Steering Clear of Merit-Based Regulation for Complex Securities Products: Defense Digest, December 1, 2012
- Perspective of Outside Counsel: Best Practices on FINRA’s New Suitability Rule
- 2012 Broker-Dealer Annual Compliance Meeting (Pittsburgh, PA)
- Best Practices and Tales from the Trenches: FINRA’s Not-so-New (and Improved) Suitability Rule
- 2013 Broker-Dealer Compliance Seminar (Hartford, CT)
Securities & Insurance Licenses (Inactive)
- NASD Series 7: General Securities Representative License
- NASD Series 66: Uniform Combined State Law License (Securities Agent & Investment Advisor Rep)
- Pennsylvania Insurance Producers’ License: Life, Accident, & Health Insurance License
Designations / Certifications
- Claims & Litigation Management Alliance – CLM Claims College Philadelphia, PA
- School of Claims Management – Certified Claims Management Professional: Level 1 Designation
Board of Directors / Non-Profit Experience
- Pittsburgh Young Professionals (PYP)
- Member, Board of Directors Executive Committee (2011 & 2012)
- Treasurer, Board of Directors (2011)
- President, Board of Directors (2012)
- Pennsylvania Bar Association – Member
- Allegheny County Bar Association – Member
- Claims & Litigation Management Alliance – Member (Invitation Only)
- Association for Corporate Growth, Pittsburgh Chapter
Range of Experience
During law school, Michael worked with the Securities Arbitration Clinic at Duquesne University where he acquired experience representing investors in securities arbitration and procured additional training in securities law and regulation. He served as a law clerk for the Chapter 13 Trustee for the Western District of Pennsylvania. Michael also worked for a small law firm representing consumers and investors in complex insurance and securities disputes. Prior to founding The Law Office of Michael A. Nagy, LLC, he was a member of the Securities & Investment Professional Liability Practice Group at one of the nation’s largest law firms devoted to civil defense litigation.
In addition to his legal experience and background in the securities industry, Michael brings practical business and financial insight to his practice by virtue of his service on the Executive Committee of a local non-profit organization. Michael served on the Board of Directors as the Treasurer and then as the President of a 501(c)(3) corporation, which experience has enabled him to readily recognize issues of importance to his clients and to apply his broad perspective to their business strategies and tactics.
Prior Employment Positions
- Marshall, Dennehey, Warner, Coleman & Goggin, PC – Attorney
- Behrend & Ernsberger, PC – Attorney
- Office of Chapter 13 Trustee for Western District of Pennsylvania – Law Clerk
- Behrend & Ernsberger, PC – Law Clerk
- Securities Arbitration Clinic – Certified Legal Intern
- HBKS Wealth Advisors, Financial Advisor
- HBKS Wealth Advisors, Financial Planner
- HBKS Wealth Advisors, Intern