Burr & Forman’s Tom Potter authored article “The Ins and Outs of FINRA Suitability Rule 2111” featured on Law360

July 25, 2012

On July 24, 2012, Nashville Partner Tom Potter and summer associate Emily Dennis authored the article entitled, “The Ins and Outs of FINRA Suitability Rule 2111,” that was published in Law360.

The article explains the new requirements for brokers-debtors in the FINRA Suitability Rule 2111, effective July 9, 2012, that expand prior suitability obligations found in its predecessor, the National Association of Securities Dealers and New York Stock Exchange Rules. Potter outlines these new requirements, including the new ‘reasonable basis’ to believe a recommendation is ‘suitable for the customer.’ This requirement is based on the consideration of customer-specific facts obtained through ‘reasonable diligence’, as well as the new explicit obligations on brokers, including customer-specific obligations and quantitative-suitability obligations.

For the full article, please see the online version, Click here

For more information, please contact Tom Potter.



Legal Disclaimer:
No representation is made that the quality of services to be performed is greater than the quality of legal services performed by other lawyers.

Featured Attorneys

send article

TESTIMONIALS

  • “He has an in-depth understanding of creditors’ rights law and bankruptcy law. He is extremely responsive and is capable of seeing the business side of workouts, not just the legal side. He helps come up with a solution that is often times mutually acceptable to both sides and is tremendously successful in all the work he’d done. By far my favorite bankruptcy lawyer in Florida.”

    -Chambers 2012

  • “Melinda Sellers has become the valued resource for us when we need guidance regarding a broad range of matters, whether related to HOA legal issues or general corporate matters.  She quickly understands the nuances and potential end results of actions in complicated situations.  Her timely responses and incisive comments and well-reasoned opinions have guided us through many complex issues.  I always want Melinda backing me up. Additionally, she is an absolute pleasure to work with and I look forward to having a long professional and personal relationship with her.”

    -Elbert W. G. Boothby, CPM®, CCIM®, CMCA®, AMS®, PCAM®, President and CEO, Boothby Realty, Inc.

  • "Lee has been an excellent, trusted legal adviser to Honda Alabama since our arrival in 1999. He's helped us successfully expand our operations from our six initial hires to over 4,000 associates today. Each step along the way he's provided solid legal and insightful business advice. "

    -Raymond W. Perez.

  • “Kasee is extremely helpful and always available to address any concern I have.  Her actions have encouraged my trust.”

    - Anonymous

  • “Callie is thorough, efficient and dependable.  She explains the details of contract law in terms that we can understand allowing us to make the business decisions that are essential for our success.  During contract negotiations with our customers, Callie is always courteous while maintaining the proficiency and firmness required to effectively represent the interests of American.”

    -Jon Noland, Sales Manager, Steel Pipe Division, American Cast Iron Pipe Company