Sep 14, 2020

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
Sep 8, 2020

Enforcement of Massachusetts Fiduciary Rule Just Kicked In

By Derek C. Anderson

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”
Sep 3, 2020

SEC Expands Definition of “Accredited Investor”

By Michael Schwartzberg

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
Sep 1, 2020

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
Aug 27, 2020

FINRA Amends Its Suitability, Capital Acquisition Broker Suitability and Non-Cash Compensation Rules to Comply with Sec’s Regulation Best Interest

By Derek C. Anderson

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
Aug 24, 2020

FINRA Issues New Regulatory Notice Regarding Private Placement Communications with the Public

By Denis Dice

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

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