As Co-Chair of the Firm’s Financial Services practice, Mr. Field leverages his decades of practice focused on commercial transactions and regulation to recover investments that have been mishandled or lost.
Charles Field and Sanford Heisler have been excellent partners as our business has grown. They understand our firm and have helped us navigate the legal landscape in our industry. Charles is particularly responsive when we need him and is willing to bring in other resources to address our issues. Because of their efficiency and teamwork, we feel Sanford Heisler offers great value and service. Horacio Valeiras, CEO, Frontier Global Partners, LLC
Mr. Charles Field, Esquire was very professional, courteous and polite in helping me research an equities matter. He contacted me timely with the results of an equity public filing review, and I was thoroughly impressed by everyone I interacted with at Sanford Heisler Sharp, LLP. Canning Kraft
Charles H. Field is a Partner in the San Diego office of Sanford Heisler Sharp, LLP, a national law firm with offices in the District of Columbia, New York, California, Tennessee, and Maryland, and a Co-Chair of the firm’s Financial Services Litigation Practice. He received his J.D. from McGeorge Law School and his B.A. from Indiana University-Indianapolis. Mr. Field also completed European legal studies at the University of Edinburgh and the University of Salzburg.
Mr. Field has been practicing in the securities law area for more than 28 years. His practice focuses on protecting the interests of investors. Having served from 2002 to 2013 as the General Counsel of Nicholas-Applegate Capital Management and its successor, Allianz Global Investors Capital, he brings a combination of private practice experience and a deep knowledge of the laws governing investment advisers, broker-dealers, and commodity trading advisers, which he uses to assess whether a seller has breached a legal obligation and to evaluate whether an aggrieved investor can recover damages. In addition to his General Counsel experience, he has held industry roles as Chief Compliance Officer, FINRA General Securities Principal, General Options Principal, and General Municipal Securities Principal.
Mr. Field understands the daily activities and needs of investors and other market participants. He has been involved in matters related to employee relations, including bonus structures, management of 401(k) plans, wage and hour compliance, employment discrimination, and wrongful termination.
Under the ERISA laws, Mr. Field represents employees challenging their employers’ mishandling of their 401 (k) plans and violation of fiduciary standards related to the plan’s investments. Actions on behalf of investors can be brought against employers for mismanagement of investments and for charging inappropriately high fees.
The elderly are particularly vulnerable to financial abuse. Mr. Field represents elder victims of financial abuse under state laws, including California Elder Abuse Law. Seniors are often dependent on others to handle their personal and financial affairs and unfortunately, this leaves them vulnerable to financial advisors who take advantage of a lack of oversight.
Investors, both the most sophisticated and novices, are vulnerable to stockbrokers, investment advisers and financial planners who operate not in the client’s interest, but in their own interest by churning accounts, buying unsuitable investments and charging excessive fees. Mr. Field seeks justice for abused investors, based on decades of experience and his knowledge of the laws in place to protect investors.
Another risk area for investors is the sale of various forms of annuity contracts and universal life schemes — retirement, insurance, and saving products — promising to be the “silver bullet” of investments with unusually high yields and often a cash bonus paid up front. Unfortunately, the real benefit is the commissions paid to the agents and not the dividends paid to the investor. A number of class actions have been filed and settled in this area of continuing the abuse. Sanford Heisler Sharp will analyze your policy and the sales materials and advise you on the appropriate course of action.
Mr. Field is licensed to practice in California and Indiana and in the Federal Court of the Southern District of California. He is a member of the San Diego and California Associations and is a former member of the Board of Directors of the National Society of Compliance Professionals. He is a frequent speaker to business, professional and service groups on a variety of securities law and regulatory topics.
- J.D., McGeorge Law School 1986
- B.A., Indiana University-Indianapolis 1977
- European legal studies the University of Edinburgh and the University of Salzburg
- California, 1997
Sanford Heisler Sharp LLP is currently evaluating whether Allstate mismanaged its 401(k) plan.
Sanford Heisler Sharp LLP is currently evaluating whether Takeda Pharmaceutical, a global biopharmaceutical company, mismanaged its 401(k) plan.
Sanford Heisler Sharp LLP is evaluating whether workers at Linear Technology were victims of mismanagement by the company of their 401(k) plan.
The complaint alleges Walgreens failed to remove from its employee retirement plan a suite of ten target retirement date funds that have underperformed their investment benchmarks.
Sanford Heisler Sharp alleged the company filled its 401(k) plan with expensive, poorly performing funds that earned fees for the company but deprived employees of millions of dollars in retirement savings.
The amended complaint alleges Mark Bernier trolled a dating website, exchanging over 29,000 messages with over 3,000 women in a two-year period, to lure unsuspecting women into investing their money in his fraudulent scheme.
The complaint alleges the company invests employees’ retirement savings in multiple funds that consistently underperform their investment benchmarks and other similar collective investment funds.
In the fight to protect investors from stockbroker misconduct, Sanford Heisler Sharp has obtained a $2.1 million FINRA arbitration award on behalf of a San Diego client whose investment nest egg was decimated by an imprudent, high-risk investment strategy that her stockbroker David Barber had recommended.
According to the complaint, Home Depot has selected multiple poorly-performing funds for its 401(k) plan, allowed investment advisers to charge its employees unreasonable fees, and turned a blind eye to a kickback scheme between an investment adviser and the plan’s recordkeeper.
The Complaint asserts that GE and the Plan violated the Federal Employee Retirement Security Act (ERISA) by breaching their fiduciary duties and engaging in prohibited transactions and unlawful self-dealing detrimental to the three named plaintiffs individually and as representatives of a class.
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Participants in their company’s 401(k) plan have come to expect that their employer will protect their personal information from disclosure outside the plan. However, plan participants of Shell Oil’s 401(k) have filed a case in federal court in Galveston, Texas – Harmon v. Shell Oil Company – alleging Shell took no action to stop the […]
No doubt you have seen the news recently about the stock market gyrations caused by the uncertainties arising from Covid-19. Because many Americans’ retirement savings are invested directly and indirectly in the stock market, now may be the time to evaluate how your 401(k) is holding up through this market volatility. Foremost, a fund that […]
Deutsche Bank is in the news again, this time for false and misleading sales practices. At the heart of a complaint filed by the Securities and Exchange Commission (SEC) was a quid pro quo relationship in which Deutsche Bank offered only those funds whose sponsors agreed to kick-back a portion of their management fees to […]
In recent years, employees have been filing an increasing number of meritorious lawsuits against employers for 401(k) mismanagement. These claims are in the tens of millions of dollars and range from disloyalty to imprudence to disregarding conflicts of interest. Some of the more egregious claims come when employers populate 401(k) plans with their own expensive […]
In the realm of financial services, unknowing investors often fall victim to various securities fraud schemes, and one of the more common ones is the “pump and dump.” “Pump and dump” schemes are often associated with penny stock fraud and microcap fraud and are serious violations of the law. The “pump and dump” is a […]
Typically, stockbrokers earn commissions each time an investor enters a securities order to buy stock or a sell stock. Full-service stockbrokers earn higher commissions than online stockbrokers because unlike online stockbrokers, full-service stockbrokers provide investors with the added service of advising you when to buy, sell or hold particular investments. Because stockbrokers are paid on […]
The average person seeking financial advice for their retirement is unaware that the persons giving them advice are under no obligation to be loyal to their needs, to make prudent investment recommendations for them, or overall to act in their best interest. As a result, over the years many financial advisers motivated by their own […]
Sanford Heisler Sharp is currently investigating the way E* Trade recently handled the assignment of a naked in-the-money put on the S&P 500 ETF (symbol SPY). A volatile price drop in SPY on the Friday of expiration triggered a likely assignment of 5,000 SPY shares. Rather than closing out the put contract before the close […]
In an effort to enhance investor protections, the Securities and Exchange Commission (SEC) is proposing a new rule – Regulation Best Interest – that may come as a surprise to some investors. The SEC’s proposed rule requires your stockbroker to act in your best interest at the time he or she recommends an investment to […]
We want to share with you a disturbing tale we heard recently from an investor in a private investment fund. We share this to alert you to “red flags” that signal the high likelihood of investor fraud. If you can spot them, you can better protect yourself from financial predators. The enactment of the Dodd-Frank […]