Securities Litigation
08.25.2014 | by:
Thomas K. Potter III
The SEC's Office of Compliance Inspections and Examinations ("OCIE") announced August 19 a two-year, three-phase examination initiative targeting newly-registered municipal advisors. SEC Press Rel. 2014-170…
08.25.2014 | by:
Thomas K. Potter III
The Second Circuit joined the Ninth in holding that a subsequent contractual forum-selection clause requiring federal-court litigation trumps the base requirement that FINRA member firms…
08.22.2014 | by:
Thomas K. Potter III
In its August 18 Regulatory Notice No. 2014-15, the Municipal Securities Rulemaking Board ("MSRB") proposed amendments to Rule G-37 that would extend the long-standing "pay-to-play"…
08.21.2014 | by:
Thomas K. Potter III
The SEC recently announced another issuer settlement under its Continuing Disclosure Cooperation Initiative (see our blogs First Settled Proceeding (July 23, 2014) here). In this…
08.20.2014 | by:
Thomas K. Potter III
Responding to industry complaints, the SEC's Enforcement Division modified its Municipal Continuing-Disclosure Cooperation ("MCDC") Initiative to (a) extend the deadline for issuer disclosures until December…
08.6.2014
When a member or shareholder of a company or corporation sustains a loss, is that member's loss directly compensable by a direct suit? Or does…
07.31.2014
The United States Supreme Court clarified the duty of prudence that employee stock ownership plan fiduciaries owe to plan participants in its June 25, 2014…
07.30.2014 | by:
Thomas K. Potter III
The MSRB proposed a Revised Draft of Rule G-42 ("Duties of Non-Solicitor Municipal Advisors") by Reg. Not. 2014-12 issued July 23, 2014. We addressed the…
07.24.2014 | by:
Thomas K. Potter III
On July 22, the SEC approved amendments to FINRA Rule 2081 that prohibit member firms from conditioning arbitration settlements (or seeking to) upon a customer's…
07.23.2014 | by:
Thomas K. Potter III
The SEC announced July 8 its first settled administrative proceeding against a municipal issuer under its Municipal Continuing Disclosure Cooperation ("MCDC") Initiative. In its Order,…
