A large and important segment of the securities brokerage industry is composed of broker-dealers that classify their registered representatives as independent contractors…
more
/ Business Organizations, Commercial Law & Contracts, Finance & Banking, Securities Law, Taxation
In SR-FINRA-2024-022 (Proposed Rule Change to Amend the Codes of Arbitration Procedure to Make Clarifying, Technical and Procedural Changes to the Arbitrator List Selection Process), FINRA DRS sought to amend both the FINRA Code…
more
/ Administrative Law, Alternative Dispute Resolution (ADR), Commercial Law & Contracts, Finance & Banking, Securities Law
As FINRA’s proposed amendments to Rule 3220 (Influencing or Rewarding Employees of Others), aka the “Gift Rule,” and related rules are pending, it has sent a strong message that firms must continue diligently policing gifts and…
more
/ Administrative Law, Business Organizations, Commercial Law & Contracts, Finance & Banking, Securities Law
The SEC’s Division of Investment Management has issued a no-action letter effectively clarifying that federally registered investment advisers can utilize a State Trust Company to hold clients’ crypto assets. Following the…
more
/ Finance & Banking, Science, Computers, & Technology, Securities Law
Certain enforcement measures or findings associated with violations of securities laws constitute “disqualifying events.” Parties subject to a “disqualifying event” are commonly referred to a “bad actors” and are automatically…
more
/ Administrative Law, Securities Law
On March 1, 2017, New York’s Department of Financial Services (DFS) enacted a regulation establishing what was then one of the most stringent cybersecurity measures in the country. The goal was to enhance cybersecurity…
more
/ Finance & Banking, Insurance, Science, Computers, & Technology
The reports of the death of Section 10 of the FAA may have been greatly exaggerated. Thursday, a majority of the Eleventh Circuit held in Nalco Co. LLC v. Bonday that an arbitration award was subject to vacatur under Section…
more
/ Alternative Dispute Resolution (ADR), Civil Procedure, Labor & Employment Law
The New Jersey state legislature has passed new legislation, as part of the State’s 2026 fiscal year budget, that directly and significantly impacts sellers and buyers of real property in New Jersey. Previously, a 1% fee (known…
more
/ Real Estate - Residential, Taxation, Real Estate - Commercial
The New York State Department of Financial Services (the “Department”) has issued guidance (“Guidance”) to all individuals and entities regulated by the Department (“Regulated Entities”) to underscore the importance of…
more
/ Administrative Law, Finance & Banking, Consumer Protection, International Law & Trade, Science, Computers, & Technology
June is Elder Abuse Awareness Month, a time to raise awareness of the growing trend of financial exploitation, which has become one of the most prevalent forms of abuse targeting the senior population. During the 2025…
more
/ Consumer Protection, Finance & Banking, Health, Securities Law
On April 21, New Jersey became the 50th and final state to adopt the Best Interest standard for annuity transactions. The new New Jersey standard is based on the National Association of Insurance Commissioners (NAIC) Suitability…
more
/ Consumer Protection, Insurance, Securities Law
When disputes arise between developers and purchasers, it is important to ensure that the developer’s preferred forum of dispute resolution is enforceable in the purchase contract. In particular, arbitration clauses, which are…
more
/ Alternative Dispute Resolution (ADR), Commercial Law & Contracts, Real Estate - Residential
A recent Tax Court order highlights the gift and estate planning opportunities afforded when a senior family member makes loans to other family members. In Galli v. Commissioner, Docket Nos. 7003-20 and 7005-20, the Court had to…
more
/ Finance & Banking, Taxation, Wills, Trusts, & Estate Planning
In 2010, the Federal Insurance Office (“FIO”) was created within the United States Treasury Department by the Dodd-Frank Wall Street Reform and Consumer Protection Act, to support uniform regulation of Insurance across the…
more
/ Administrative Law, Elections & Politics, Insurance
On March 12, 2025, the SEC’s Division of Corporation Finance issued guidance affirming that issuers in a 506(c) offering could reasonably be considered to have properly "verified" an investor's accredited status based simply on…
more
/ Business Organizations, Finance & Banking, Securities Law
