Lindsay Wuller Aggarwal

Trisha Aggarwal
  1. People /

Lindsay Wuller Aggarwal

Lindsay Wuller Aggarwal

Partner


St. Louis
Trisha Aggarwal
  1. People /

Lindsay Wuller Aggarwal

Lindsay Wuller Aggarwal

Partner


St. Louis

Lindsay Wuller Aggarwal

Partner

St. Louis

T: +1 314 259 2943

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Biography

Lindsay Wuller focuses her practice on Broker-Dealers, Investment Advisers and individual securities industry professionals.  She routinely represents firms and individuals in litigation, FINRA arbitrations and in SEC, FINRA and state regulatory investigations. Lindsay has significant experience with FINRA arbitrations, including customer-initiated cases and industry proceedings. She has successfully represented Broker-Dealers in cases relating to defamation, alleged unsuitability of investments, discretionary trading without authorization and promissory note collection, among others. 

Lindsay also has an extensive complex litigation practice. She regularly assists clients with property tax issues and contractual disputes. She has significant experience representing clients in the telecommunications industry relating to tax classification and treatment.

Civic Involvement & Honors

  • The Best Lawyers in America©: Ones to Watch, 2023-2024
  • Recipient, Missouri Lawyers Media Women’s Justice Award 2022
  • Board Member, St. Louis Children’s Hospital Development Board
  • Previous Co-chair of the BCLP Motion for Kids Initiative
  • Gerald R. Ortbals Law Practice Award, The Common Good Awards, Legal Services of Eastern Missouri (LSEM) – jointly awarded with team of firm attorneys and client
  • 2021 Up & Coming Award, Missouri Lawyers Media
  • 2018 Wells Fargo Diversity College

Professional Affiliations

  • Securities Industry and Financial Markets Association’s Compliance & Legal Society
  • Bar Association of Metropolitan St. Louis

Recruitment Committee

Mentoring Committee

Admissions

  • Illinois, 2014
  • Missouri, 2013

  • United States District Court for the Eastern District of Missouri

Education

Saint Louis University, J.D., magna cum laude, Order of the Woolsack, 2013

Vanderbilt University, B.A., summa cum laude, 2010

Related Practice Areas

  • Business & Commercial Disputes

  • Financial Institutions

  • Finance

  • Sports & Entertainment Contract, Endorsement & Celebrity Representation Practice

  • Anti-Doping Practice

  • Sports & Event Venue Real Estate Infrastructure and Operation

  • Naming Rights & Sponsorship Practice

  • Sports & Entertainment M&A Practice

  • Sports & Entertainment Litigation Practice

  • Collegiate Sports Practice

  • Sports & Entertainment Specialty Counseling Practice

  • Entertainment Industry Practice

  • Olympic & National Governing Body Practice

  • Professional Sports Team Practice

  • Litigation & Dispute Resolution

  • Broker-Dealer and Investment Advisor Regulatory Enforcement, Disputes and Investigations

  • Sports & Event Financing

  • Sports & Entertainment

Experience

  • Co-represented broker-dealer in FINRA arbitration in which customer sought $4 million in damages (plus punitive damages, fees, and interest) for alleged unauthorized trades, and obtained award denying all claims. Delivered opening statement, examined multiple corporate witnesses and expert, and prepared key pleadings.
  • Represented broker-dealer in FINRA arbitration in which former representative sought $2.5 million in compensatory damages and $5 million in punitive damages for alleged defamation. In connection with lead counsel, obtained award denying all claims. Examined multiple witnesses, prepared and examined expert, oversaw large document production, and prepared key pleadings.
  • Served as second chair for JAMS arbitration in which arbitrator denied the entirety of customer’s claim against client cryptocurrency exchange for almost $500,000 relating to the alleged “phishing” of his account. Prepared key pleadings, prepared direct and cross examination outlines, and prepared witnesses for examination.
  • Represented broker-dealer with lead BCLP attorney in two-week U-5 defamation FINRA hearing and obtained award denying all claims. Prepared key pleadings, prepared direct and cross examination outlines, and prepared witnesses for examination.
  • Argued and obtained dismissal of U-5 defamation case against broker-dealer prior to FINRA hearing on the merits.
  • Regularly represent broker-dealer in FINRA arbitrations relating to collection of outstanding promissory notes, and have obtained multiple awards for full amount owed.
  • Regularly prepare regulatory responses on behalf of broker-dealers in response to SEC, FINRA and state regulator investigations.
  • Served as second chair in eminent domain jury trial and obtained favorable verdict.
  • Represent individual and corporate taxpayers in hearings before Saint Louis County Board of Equalization and proceedings before the Missouri State Tax Commission.

Resources

Publications

  • Bulletin: “FINRA’s 2018 Regulatory and Examination Priorities,” January 22, 2018
  • Bulletin: “New Rule Regarding Financial Exploitation of Seniors to Become Effective February 5, 2018,” January 4, 2018
  • Bulletin: “OCIE Publishes Risk Alert Summarizing Observations from Recent Cybersecurity Examinations,” August 11, 2017
  • Prepared chapters for the Broker-Dealer Litigation Annual Survey published by the American Bar Association, 2016 and 2017
  • Bulletin: “SEC Publishes Forum Selection Memo in Wake of Criticism,” May 13, 2015
  • “Losing the Game: An Analysis of the Brown v. Entertainment Merchants Association Decision and Its Ramifications in the Area of ‘Interactive’ Video Games,” Saint Louis University Law Journal, 2013

Speaking Engagements

  • Speaker at 2018 and 2019 St. Louis Wells Fargo Diversity Continuing Legal Education Program

Related Insights

Awards
Jun 08, 2023

Legal 500 US 2023

Insights
Jun 06, 2022

The SEC’s Continued Efforts to Dive Feet First into Climate Control and ESG Initiatives

On May 25, 2022, the U.S. Securities and Exchange Commission (“SEC”) provided notice of proposed rulemaking aimed at Investment Advisers (“Advisers”), Investment Companies and Business Development Companies (collectively “Funds”) that market themselves as incorporating environmental, social and governance (“ESG”) factors into their investment selection process or overall investment strategies. The public comment period will be open for 60 days following the SEC’s announcement. The proposed rules seek to standardize the categorization of ESG strategies and require Advisers and Funds to provide more specific disclosures in their fund prospectuses, annual reports, and brochures, as well as enhanced ESG reporting requirements on Forms N-CEN and ADV Part 1A, with the quantity of disclosures commensurate with the standardized categorizations. The SEC's proposed rules follow a related announcement of a regulatory enforcement action wherein it charged an investment adviser for misrepresenting the extent it reviewed ESG factors in the investment selection process. Ultimately, that case settled with a public censure, a cease and desist order and a penalty of $1.5 million. Given the SEC’s recent efforts to dive feet first into climate control and ESG initiatives, we fully anticipate that the SEC’s efforts will have a ripple effect throughout the retail distribution of ESG products by broker/dealers. In our opinion, the SEC and other regulators will later look to broker/dealers to exercise a reasonable amount of due diligence to ensure that certain products are in fact “green” before onboarding and advertising products as such. We discuss our thoughts in more detail below.
Insights
Mar 01, 2022

The SEC’s Recent Observations from Examinations into Private Fund Advisers

On January 27, 2022, the SEC released a Risk Alert from the Division of Examinations (“EXAMS”), wherein it reported concerns noted during its recent examinations of investment advisers who manage private funds (“private fund advisers”). A copy of the SEC’s Risk Alert is linked HERE.  This is the SEC’s third Risk Alert in the last five (5) years regarding compliance issues in this space. Private fund advisers are likely to be a continued focus for the SEC. In the Risk Alert, EXAMS noted four problematic areas related to private fund advisers who 1) acted inconsistently with their obligations under fund disclosures, 2) made misleading marketing disclosures, 3) failed to perform appropriate due diligence before recommending investments, or 4) used hedge clauses to limit their liability for breaches of fiduciary duty.  Below is a summary of the SEC’s observations.

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On January 27, 2022, the SEC released a Risk Alert from the Division of Examinations (“EXAMS”), wherein it reported concerns noted during its recent examinations of investment advisers who manage private funds (“private fund advisers”). A copy of the SEC’s Risk Alert is linked HERE.  This is the SEC’s third Risk Alert in the last five (5) years regarding compliance issues in this space. Private fund advisers are likely to be a continued focus for the SEC. In the Risk Alert, EXAMS noted four problematic areas related to private fund advisers who 1) acted inconsistently with their obligations under fund disclosures, 2) made misleading marketing disclosures, 3) failed to perform appropriate due diligence before recommending investments, or 4) used hedge clauses to limit their liability for breaches of fiduciary duty.  Below is a summary of the SEC’s observations.
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