Shea Hicks
Senior Counsel
Norton Rose Fulbright US LLP
Related services and key industries
Biography
Shea Hicks represents broker-dealers, investment advisors, banks and industry professionals in the defense of regulatory enforcement matters and litigation/arbitration. He also represents clients in conducting and defending internal investigations, compliance consulting, designing control procedures, general business disputes, interpleader actions, garnishments, employment matters and real estate/lease disputes.
Shea’s representation of financial institutions and individuals in regulatory enforcement matters is all-inclusive, including defending potential and actual charges initiated by all financial industry regulatory authorities. Representative litigation/arbitration matters include disputes involving alleged sales practice violations, fraud, industry raiding/recruiting disputes, employment matters (including wrongful termination claims, defamation, promissory note recovery and training contract indebtedness), customer debt collection and real estate, lease and contract disputes. Shea also leads internal investigations on behalf of broker-dealers and banks in conjunction with actual and anticipated regulatory actions, engages in compliance consulting and provides advice to c-suite, senior and mid-level management executives.
Prior to joining private practice, Shea served as managing counsel for the litigation, regulatory enforcement and investigations group within Wells Fargo’s wealth and investment management division. In this role, Shea served as first chair in the defense of complex regulatory enforcement and litigation matters, internal investigations, litigation and providing advice to executives.
Before taking that role, Shea served as a managing director and senior litigation counsel for Morgan Keegan & Co., Inc., which was acquired by Raymond James & Associates. In that role, he served as first chair in securities arbitrations and tried over 75 contested matters to award and settled many more. In the wake of the 2009 financial crisis, Shea also assisted in the management and supervision of six law firms defending approximately 1,750 arbitrations, three regulatory actions and six class actions, all related to investor losses sustained in the RMK Bond Funds, marking the most significant docket of FINRA arbitrations to arise during that period of time.
Professional experience
Collapse all- JD, summa cum laude, Oklahoma City University, 2000
- BA, University of Memphis, 1997
- Florida State Bar
- Georgia State Bar
- Missouri State Bar
- Tennessee State Bar
Securities litigation
- Jointly managed a syndicate of six outside law firms in defending over 1,600 securities arbitrations, three significant regulatory enforcement actions and six class actions related to US$3 billion in investor losses from the decline of the RMK Bond Funds, marking one of the more significant securities litigation representations to arise out of the market crash of 2008-2009.
- Served as first chair in over 75 arbitrations and court cases that concluded after a contested hearing.
- Obtained a favorable settlement for a regional broker/dealer in a customer arbitration wherein the claimant sought US$155 million in damages based on allegations of overconcentration and unsuitability.
- Obtained favorable defense arbitration awards in suitability and supervision cases for a regional broker/dealer client.
- Collected over US$35 million in debt owed to a regional broker/dealer client through initiating collection efforts to recover promissory note obligations and unpaid margin balances.
- Initiated and successfully represented regional broker/dealer in raiding cases against its competitors for unfair competition practices and breach of fiduciary duties.
- Served in-house as a Protocol Officer for a regional broker/dealer and was responsible for the firm’s raiding/recruiting/collection matters.
Regulatory enforcement and internal investigations
- Supervised a team of lawyers and legal professionals responsible for providing legal representation in the areas of regulatory enforcement and internal investigations.
- Led as first chair significant and complex regulatory enforcement matters from inception to resolution, including conferring and meeting with senior regulatory officials to negotiate mutually agreeable resolutions.
- Led internal investigations into possible employee misconduct and/or systemic control breakdowns for the purpose of advising as to appropriate solutions.
- Provided counsel into issues involving broker/dealer compliance and the design and implementation of controls.
- Provided counsel to client on issues pertaining to employment risks.
Real estate disputes
- Represented regional broker/dealer in landlord/tenant disputes.
- Presenter, “Current Regulatory Issues," Securities Industry and Financial Markets Association, C&L Society St. Louis Regional Seminar, June 18, 2019
- United Way Leadership Giving
- Boys and Girls Club Supporter
- Securities Industry and Financial Markets Association