Jorden Burt Attorneys Participants in PLI Seminar on Regulatory Reform of Insurance Products 2013Washington Of Counsel Joan Boros is serving as Co-Chair, and Washington Partner Richard Choi will be a Co-Panelist at PLI's 16th Annual Securities Products of Insurance Companies in the Course of Regulatory Reform 2013.
Oct 18, 2012
Shaunda Patterson-Strachan to Speak at ALIC Securities SessionDC Partner Shaunda Patterson-Strachan will speak at the Association of Life Insurance Counsel's 2012 Annual Meeting being held May 19-22, 2012 in Ponte Vedra, Florida.
May 1, 2012
Gary Cohen will moderate and speak on a panelGary Cohen moderated a panel at the February 10-11, 2011 PLI Investment Management Institute in New York City.
Jan 7, 2011
Thomas Finn contributed to "Inside the Minds" on White Collar Legal Issues and TrendsThomas Finn published a chapter on Criminal Exposure for Violations of Securities Laws in "Inside the Minds" book publication by Aspatore Books.
Dec 2, 2008
Cohen Article Published in The Investment Lawyer, February 2007 IssueGary Cohen's article, "Indexed Investment Products: Are They Securities?," was published in the February 2007 issue of The Investment Lawyer.
Apr 11, 2007
Cohen Article Published in The Investment LawyerGary Cohen's article, "Fund Director Approval of Advisory Contracts: Shareholder Report Disclosure," was published in the January 2007 issue of The Investment Lawyer.
Feb 21, 2007
Marilyn Sponzo Returns to Private Practice at Jorden BurtBroker-dealer compliance counsel Marilyn A. Sponzo returns to private practice in the Securities industry group of Jorden Burt.
Nov 20, 2006
SEC Extends No-Action Relief for Customer Identification RuleThe SEC Division of Market Regulation issued a letter to the Securities Industry Association extending no-action relief that was originally granted in February 2004.
FinCEN and FRB Release Proposal to Reduce or Eliminate Funds Transfer Reporting ThresholdThe Financial Crimes Enforcement Network and the Federal Reserve Board recently published an advance notice of proposed rulemaking seeking information on the effect of reducing or eliminating the dollar threshold in the
recordkeeping rules for transfers and transmittal of funds.
Summary NASD Arbitration Decisions Remain ControversialCourts and the NASD continue to consider under what circumstances an NASD arbitration panel should be permitted to grant a summary dismissal motion: i.e., a motion to dismiss an arbitration claim prior to a hearing on the merits of the claim.
SEC Withdraws No-Action Letters Regarding Commissions Paid on Insurance ProductsThe SEC staff recently stated that commissions on the sale of insurance securities products may be paid to an insurance agency that is not a registered broker-dealer only where both: (1) a state's law requires the commissions to be paid to an insurance agency licensed in that state, and
(2) a legal impediment prevents the recipient of the commissions from being, at the same time, a licensed insurance agency and a registered broker-dealer.
NASD Annuity Roundtable: The Storm Before the CalmSeveral months have passed since the May 5, 2006 NASD Annuity Roundtable and inquiring minds want to know: what has happened since? Not much. The regulatory
silence is notable.
Recent SLUSA DevelopmentsAmong recent SLUSA developments, the United States Supreme Court has addressed the reviewability of a federal district court order remanding a case originally removed under SLUSA, and, in another case, a district court held that plaintiffs may not avoid SLUSA preclusion by recharacterizing misrepresentation claims as negligence claims.
Michael Valerio's article, "Putman Fiduciary Trust Company: A Seaboard Report for Regulated Entities," published in 6/06 issue of The Investment LawyerIn conjunction with its January 2006 announcement regarding the filing of a civil fraud action against six former officers of Putnam Fiduciary Trust Company ("PFTC"), the SEC also announced that it would not be initiating any action against PFTC, citing the "extraordinary" cooperation and remedial steps taken by the company. Through this announcement, the SEC provides its latest affirmation regarding the types of action and cooperation it expects from an organization to bolster its chances of avoiding enforcement action.
UPDATE: NASD Rules 3012 & 3013Are you prepared for your next NAS D examination? The April 1 deadline for the initial NASD Conduct Rule 3012
annual review of supervisory procedures and the Rule 3013 CEO certification has passed, and areas of special attention
by NASD include adequate supervision of complex investment products and regulatory violations that may go unnoticed, particularly at branch offices.
NASD Issues Alert on Customer Advisory CentersOn March 15, 2006, NASD issued an investor alert regarding the growing use of so-called "customer advisory centers" that provide financial planning services, sell securities products, and receive commissions or other financial incentives for doing
Federal Court Dismisses Independent Agents' Claims Relating to Insurers' Introduction of Endorsed Section 403(b) and 457 Variable AnnuitiesJorden Burt's defense team defeated independent agents' complaints relating to an insurer's sale of Section 403(b) and 457 variable annuities in the Eastern District of Louisiana.
Sep 12, 2005