Bill on Bankruptcy: Easterbrook Turns the Tide on Student Loans
Confirmations: Plugging Into Electronic Confirmations
Bill on Bankruptcy: Rakoff Reverses Himself in Madoff Case
On November 4, 2013, the U.S. House of Representatives Committee on Financial Services, by a 57-0 vote, ordered H.R. 2274 to be reported for further consideration. The bill, named the “Small Business Mergers, Acquisitions,...more
You won’t get what you don’t ask for. That’s a given.
Take Wade Oil & Gas, Inc. v. Telesis Operating Company, Inc., et al, for example. Wade, an oil and gas properties broker, entered into a contract with Telesis in...more
The CFTC has proposed a rule that would require all registered introducing brokers (“IBs”), commodity pool operators (“CPOs”), and commodity trading advisors (“CTAs”) to be members of a registered futures association (“RFA”)....more
Last June, Congressman Bill Huizenga introduced H.R. 2274 which would amend the Securities Exchange Act of 1934 to provide for a notice-filing registration procedure for brokers performing services in connection with the...more
In the Second U.S. Circuit, the so-called Wagoner rule deprives a trustee of standing to sue third parties, such as lawyers and investment bankers, if the bankrupt corporation participated with them in defrauding creditors. A...more
Recently, the Securities and Exchange Commission posted two recommendations by the Investor as Purchaser Subcommittee of the Investor Advisory Committee. In general, the Subcommittee recommended...more
On September 25, Senator Jay Rockefeller (D-WV) released letters he recently sent to 12 popular “personal finance, health, and family-focused websites” for assistance in an ongoing Senate Commerce Committee investigation into...more
On September 19, FINRA’s Board of Governors approved a proposal that would require brokers to disclose recruitment compensation paid to them as an incentive to move to a new firm. The original proposal stirred a great deal...more
In Florida, residential real estate licensees may serve as a single agent, transaction broker, or maintain a no-representation status in a luxury real estate transaction. It is presumed that all licensees are acting as...more
Venable’s International Trade and Customs Practice Group is publishing a four-part series of Client Alerts to highlight the changes surrounding the ECR (Export Control Reform). Below is Part 1 of the series.
On August 26, 2013, in yet another move geared toward streamlining the U.S. export control regulatory landscape, the U.S. Department of State’s Directorate of Defense Trade Controls (DDTC) published its long-awaited interim...more
In Florida, residential real estate licensees may serve as a single agent, transaction broker, or maintain a no-representation status in a transaction. ...more
The Municipal Securities Rulemaking Board, or MSRB, is seeking comment on proposed rule changes that would set forth in a single rule the requirements to and process by which brokers, dealers and municipal securities dealers...more
There are different types of listing contracts that may be entered by luxury real estate brokers....more
In one of the most high-profile cases of its time, Martha Stewart was convicted of obstructing justice as a result of her intentional misrepresentation to Securities and Exchange Commission and FBI investigators regarding the...more
In This Issue:
Leading the Past Week; Legislative Branch; Executive Branch; and Upcoming Hearings.
Except from Leading the Past Week -
Congress usually tries to leave town for its month-long August...more
The first wave of financial regulatory change affecting banks, brokers and their users is in the field of derivatives. Various deadlines for new reporting, clearing and conduct of business requirements are imminent. The...more
The Statute of Frauds is a BIG deal in real estate transactions and litigation. (This is our second post about it already…)....more
As businesses across the economic spectrum seek to develop personalized pricing strategies, the insurance sector continues to lead the way with renewed impetus behind telematics-based insurance offerings.
On June 14, 2013, HHS released a proposed rule containing many provisions aimed at oversight of federally-facilitated exchanges (FFEs), state health insurance exchanges (State Exchanges), qualified health plan (QHP) issuers,...more
Broadridge Financial Solutions, Inc. (“Broadridge”), the leading U.S. firm that distributes materials on behalf of banks and brokers and collects shareholder ballots, recently decided to stop sharing real-time polling...more
In This Issue:
UK’s FCA Restricts Marketing of Unregulated Collective Investment Schemes and Similar Products to Retail Investors; Electronic Structured Note Systems and U.S. Securities Regulation; and Reminders from...more
In Travelers Property Casualty Company v. Superior Court, 215 Cal.App.4th 561 (2013), the California Court of Appeal held that an investor who obtained ownership of a condominium development and sustained a loss that was not...more
It is not an uncommon practice for commercial lenders or real estate owners to employ a broker to assist with the sale of property for a commission. Recently, a corporation owning a marina in South Florida filed for Chapter...more
On April 24, 2013, the Pennsylvania Supreme Court affirmed, without opinion, the Commonwealth Court’s decision in R & R Express v. Commonwealth, 37 A.3d 46 (Pa. Cmwlth. 2012). In R & R Express, a three-judge panel of the...more