Shea Hicks
Senior Counsel
Norton Rose Fulbright US LLP
Related services and key industries
Biography
Shea Hicks represents broker-dealers, investment advisors, banks and financial industry professionals in regulatory enforcement matters and litigation/arbitration.
Shea defends against potential and actual charges initiated by financial regulatory authorities. Shea also conducts internal investigations for the purpose of identifying potential misconduct and control breakdowns and so that he can properly advise his clients as to legal issues, the strengths and weaknesses of a company's control environment and recommended enhancements.
Representative litigation/arbitration matters include disputes involving alleged sales practice violations, fraud, employment matters (including raiding and recruiting disputes, wrongful termination claims, defamation, and promissory note recovery), customer debt collection, real estate, lease and contract disputes.
Shea's employment history includes previously serving as managing counsel for the Litigation, Regulatory Enforcement and Investigations team within Wells Fargo’s Wealth and Investment Management Division. In that role, Shea served as first chair, or managed others, in defending complex regulatory enforcement matters and litigation, conducting internal investigations, and providing reliable and relatable advice to senior-level 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.
Shea holds law licenses in MO, FL, GA and TN, he has an accounting background, and was formerly registered through FINRA with a Series 7 and 24 licenses (which expired in January of 2023 - two years after his employment with Wells Fargo ended).
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