Posts from November 2013.

In Regulatory Notice 13-40, FINRA announced that the SEC had approved amendments to its Discovery Guide. The Discovery Guide applies to customer cases (rather than intra-industry cases) and outlines presumptively discoverable documents that the parties to an arbitration should exchange without FINRA or an arbitrator intervening. The amendments concern three areas: (1) electronic discovery, (2) product cases, and (3) affirmations. First, the Discovery Guide was amended to clarify that electronic files are "documents" under the meaning of the Discovery Guide and that ...

Posted in: FINRA
Arbitration is an alternative to the traditional lawsuit filed in court in order to resolve a dispute. It is a formal dispute resolution process in which the parties-customers, brokers, or brokerage firms-select a neutral, third party (or parties) called an arbitrator to decide the matter. In the securities area, the Financial Industry Regulatory Authority, Inc. (FINRA) is a self-regulatory organization and the largest regulator of securities firms doing business with the public. Any arbitration filed that involves securities will likely be filed with FINRA, which then ...
Posted in: FINRA
To date, the Stock Market Crash of 1929 was one of the most instrumental events that shaped the securities industry and the laws the govern it. As a result of the crash, Congress enacted the Securities Act of 1933. The '33 Act's goals are to require full disclosure regarding securities offered for public sale, and to prohibit deceit, misrepresentations, and other fraud in the sale of securities. To achieve these goals, securities not subject to an exemption have to be registered so that the investing public can make informed decisions. The next year, Congress enacted the Securities ...

"Securities regulation and litigation is a field of law that covers various aspects of transactions and other dealings which involve securities or financial instruments. For example, debt securities, such as bonds, and equity securities, such as common stocks, that may be purchased through the New York Stock Exchange (NYSE) or the National Association of Securities Dealers Automated Quotations (NASDAQ).

Burr & Forman attorneys have the experience to assist clients in all forms of securities disputes, whether it is a dispute over the suitability of an investment, over a ...

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