R. Michael Underwood

R. Michael Underwood

Buchanan Ingersoll & Rooney PC

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Florida Regulator to Overhaul Securities and Investment Adviser Regulations

Pamela P. Epting, Director of the Division of Securities in the Florida Office of Financial Regulation, has announced a major reorganization and revision of the Division’s administrative rules and invited suggestions for...more

3/12/2014 - Compliance Investment Adviser

Will Securities Fraud Class Actions Fade Into History?

The U.S. Supreme Court’s grant of certiorari in Halliburton Co. v. Erica P. John Fund, No. 13-317, suggests a dramatic change in private securities litigation is possible. On November 15, 2013, the Court accepted...more

12/11/2013 - Amgen Amgen Inc. v Connecticut Retirement Plans Basic v Levinson Business Torts Class Action Class Certification Federal Rules of Civil Procedure Fraud-on-the-Market Halliburton Halliburton v Erica P. John Fund SCOTUS SEC Securities Securities Fraud Securities Litigation

Securities Update: Florida Allows Notice Filing for Branch Offices

Under a new law aggressively advocated by the Florida Securities Dealers Association (“FSDA”) and Financial Services Institute (“FSI”) Florida recently streamlined its regulation of securities broker-dealers and state-covered...more

7/11/2013 - Broker-Dealer Investment Adviser Notice Requirements SEC Securities Dealers

Bill Seeks to Strip Securities Regulator of Power to Deny New Branch Offices to Broker-Dealers and Investment Advisers

A hallmark of Florida's notoriously strict regulation of investment professions may soon be no more. Florida is one of only eight jurisdictions in the United States that require securities broker-dealers and investment...more

5/1/2013 - Broker-Dealer Investment Adviser Investors Securities

United States Supreme Court Extends Class Certification “Rigorous Analysis” to Damages Evidence

The Supreme Court recently applied its “rigorous analysis” standard to class-wide damages evidence and reversed class certification. See Comcast Corp. v. Behrend, No. 11-864 (Mar. 27, 2013) (slip opinion). The “rigorous...more

4/10/2013 - Class Certification Comcast v. Behrend Damages Expert Testimony Rule 23 SCOTUS Standard of Review

Controversial FINRA Decision Invalidates Rules Against Class Action Waiver in Arbitration Agreements

A hearing panel of the Financial Industry Regulatory Authority (“FINRA”) recently issued a decision that has been lauded and decried as the death knell for class actions by securities investors. In 2011, Charles Schwab & Co....more

3/12/2013

Supreme Court Eases Burden for Securities Class Action Plaintiffs

The U.S. Supreme Court recently rejected the need for plaintiffs to prove materiality at the class certification stage in federal securities fraud class actions, thus allowing shareholders of Amgen to proceed as a class in a...more

3/12/2013 - Amgen Inc. v Connecticut Retirement Plans Class Action Class Certification SCOTUS Securities Fraud

Florida Securities Regulator Warns Investment Advisers of State Law Requirements

Under the Dodd-Frank Wall Street Reform and Consumer Protection Act, Pub. L. 111-203, “mid-sized” registered investment advisers (“RIAs”), those with more than $25 million of their customers’ assets under management, but less...more

1/8/2013 - Dodd-Frank Investment Adviser RIAs

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