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WSSLLP Texas Office Legal Malpractice Trial Win Affirmed by Fifth Circuit
On September 10, the U.S. Court of Appeals for the Fifth Circuit affirmed a trial court victory in a legal malpractice case obtained by WSSLLP Houston Managing Partner Martin Schexnayder. The case, which involved issues of conflict of interest and breach of fiduciary duty against a national employment law firm, was tried before Hon. Al […] More
Enforcement of Massachusetts Fiduciary Rule Just Kicked In
On September 1, 2020, Massachusetts’ new fiduciary conduct standard went into effect. In March 2020, Massachusetts became the first state in the country to fully adopt this heightened standard for broker-dealers. The regulations are the result of consumer-oriented Massachusetts Secretary of State Bill Galvin’s opinion that the SEC’s Regulation Best Interest (Reg BI) is insufficient […] More
SEC Expands Definition of “Accredited Investor”
On August 26, 2020, the Securities and Exchange Commission adopted amendments to its definition of “accredited investor”, one of the primary prerequisites to participating in private capital markets. Historically, “accredited investors” were defined solely by an investor’s income and/or net worth, without regard to the investor’s acumen or sophistication. Thus, even sophisticated and experienced investors […] More
WSSLLP Pro Bono Efforts Secure Victory for Victim of False Arrest
Winget, Spadafora & Schwartzberg, LLP encourages pro bono efforts for those in need of effective representation who cannot otherwise afford representation. Recently, in New Jersey, one of our attorneys secured a victory on an appeal of a conviction where the State failed to disclose exculpatory evidence. On August 26, 2020, Allison J. Beatty, an attorney […] More
FINRA Amends Its Suitability, Capital Acquisition Broker Suitability and Non-Cash Compensation Rules to Comply with Sec’s Regulation Best Interest
On June 19, 2020, FINRA issued Regulatory Notice 20-18, noting changes to FINRA’s suitability rule, Capital Acquisition Broker (“CAB”) suitability rule and rules governing non-cash compensation consistent with the requirements of the SEC’s Regulation Best Interest (“Reg BI”). The changes were approved by the SEC and became effective on June 30, 2020, the compliance date […] More
FINRA Issues New Regulatory Notice Regarding Private Placement Communications with the Public
FINRA has issued Regulatory Notice 20-21 which provides guidance to its member firms to help them comply with FINRA Rule 2201 pertaining to retail communications concerning private placement offerings. FINRA Rule 2201 requires that all member firm communications be fair, balanced and not misleading. Communications must disclose risks and be accurate in order to provide […] More
