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...
View ArticleBill Seeks to Strip Securities Regulator of Power to Deny New Branch Offices...
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...
View ArticleSupreme 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...
View ArticleControversial FINRA Decision Invalidates Rules Against Class Action Waiver in...
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...
View ArticleUnited States Supreme Court Extends Class Certification “Rigorous Analysis”...
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...
View ArticleSecurities 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...
View ArticleWill 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...
View ArticleFlorida 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...
View ArticleFlorida Securities Regulator Announces Rule Development to Address Industry...
On October 14, 2011, at the invitation of the Florida Office of Financial Regulation (OFR), the Florida Securities Dealers Association (FSDA) recommended 20 changes to the administrative rules...
View ArticleSecurities Fraud Class Actions are Here to Stay, For Now
On June 23, 2014, the Supreme Court of the United States rendered its opinion in Halliburton Co. v. Erica P. John Fund, No. 13-317, 134 S. Ct. 2398 (2014), unanimously declining to overturn a...
View ArticleFlorida Regulator Promises Revision of Investment Adviser Rules – New...
Officials from the Florida Office of Financial Regulation (“OFR”) met with representatives of the securities industry last month to discuss reform of regulations applicable to state-covered investment...
View ArticleCuring Consumer Finance Overreach
A legacy of the financial crisis a decade ago, Congress enacted the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (“SAFE Act”), which gave states one year to pass legislation requiring...
View ArticleFlorida Emergency Order Suspends Securities Branch-Office Regulations
Florida’s state securities regulator, the Office of Financial Regulation (OFR), is historically strict about licensing of branch offices of securities dealers, issuer/dealers and investment advisers....
View ArticleFlorida 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...
View ArticleSupreme 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...
View ArticleControversial FINRA Decision Invalidates Rules Against Class Action Waiver in...
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...
View ArticleUnited States Supreme Court Extends Class Certification “Rigorous Analysis”...
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...
View ArticleBill Seeks to Strip Securities Regulator of Power to Deny New Branch Offices...
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...
View ArticleSecurities 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...
View ArticleWill 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...
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