Levin Papantonio's Peter Mougey Inducted as President of National Securities Bar (PIABA)

[Norman, Oklahoma] – Peter Mougey, a partner in the Pensacola-based law firm Levin Papantonio was, on Friday, October 15, inducted as the president of PIABA, the national securities bar. Mougey is the chair of the firm’s securities department.

PIABA – Public Investors Arbitration Bar Association – was established in 1990 to promote and protect the interests of the public investor in securities and commodities arbitration.

“Many investors – both individual and institutional – are too often taken advantage of by unscrupulous financial advisors who claim do be working for the benefit of their client, when in reality, they are only looking out for their bank’s bottom line,” said Mougey.  “It is our job, as members of PIABA, to protect investors from all walks of life from being fleeced by financial advisors they were conned into trusting.”

In his new post, Mougey is charged with leveling the playing field for investors in the sole industry-related dispute resolution forum, FINRA. Mougey also intends to propose additional reform to combat Wall Street fraud, through a new fiduciary standard in accordance with the Dodd Frank Wall Street Reform and Consumer Protection Act.  He will also spearhead communications with state and federal regulators to ensure that investors’ voices are heard.

“It is a fundamental right to provide aggrieved investors with a jury of their peers by ending mandatory arbitration,” said Mougey.  “Investors deserve a choice between arbitration and our court system, and forcing investors into a single securities-industry related forum is unconscionable.”

Mougey concentrates his practice in the areas of securities arbitration and litigation as well as complex business litigation. His nationwide practice includes the representation of several state and municipal pension funds in various investment disputes. In addition, he has represented more than a thousand securities fraud victims in state and federal court and securities arbitrations across the country.

Securities Litigation