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

  • "Peter's professionalism, honesty and integrity are beyond reproach."

    -Dave Hamilla, President, IntaMation Engineering Services, Inc.

  • “David Houston and Alisa Peters are very thorough and responsive. They have developed a good understanding of my company’s needs and expectations, and they work to anticipate those needs in advance. They are both very knowledgeable about a number of topics.”

    -Chambers 2012

  • Owner/President told Ed, "I want to retain you in this case because you are a finisher."

    -Hosea O. Weaver & Sons, Inc.

  • “I worked with Scott for 2 years on a green building project. I find his expertise in this area invaluable. Scott has a gentle yet executive demeanor, which lets him move projects forward productively while building stronger relationships.”

    -Selena Wingate

  • "I have worked most closely with Greg Harley and Read Morton. They are very thorough and very knowledgeable about our business. They inspire confidence: you just know you are in good hands when you work with them."

    -Telecommunications client