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Taken From: Source Last week, the Financial Industry Regulatory Authority censured and fined J.P. Morgan Securities $200,000 for failing to reasonably supervise Evan Schottenstein when the former registered representative made a series of unsuitable trades in the account of his widowed, 88-year-old grandmother. The decision shined a spotlight on the unending plague of financial elder abuse, an …

How advisers can stop family members from fleecing elderly relatives Read More »

Over the past several decades, the fees and costs associated with litigating FLSA cases has dramatically increased. A recent court decision may begin to change that landscape. Set out below is an excellent article regarding that  decision and the potential implications: Taken From: https: Source Since the Eleventh Circuit decided Lynn’s Food Stores, Inc. v. United States, …

Decision by Federal Court in Pennsylvania Questions Prevailing View that Judicial Approval is a Prerequisite to Settling Individual FLSA Claims Read More »

Taken From: Source The Corporate Transparency Act (CTA) will not only dramatically change the way that founders and investors in privately held companies — including law firms — interact with each other, but also require companies to file beneficial ownership reports with the Financial Crimes Enforcement Network that set out detailed background information about shareholders, …

The Corporate Transparency Act: Augmented Federal Anti-Money Laundering Legislation Brings New Reporting Requirements of Company Ownership Read More »

Taken From: Source By: Jeff Benjamin A Finra arbitration board has ordered hedge fund giant D.E. Shaw & Co. to pay a former star fund manager $52 million, which represents one of the largest defamation fines in at least a decade. The fine is a fraction of the $600 million sought by Daniel Michalow, who was …

Finra arbitration orders D.E. Shaw to pay former manager $52 million in defamation suit Read More »

Taken from: Source By: AdvisorHub Staff   The Financial Industry Regulatory Authority showed little sympathy for a 36-year industry veteran in Michigan who it alleged falsely identified a deceased customer as having authorized disbursements from a trust. The regulator issued a $7,500 fine and two-month suspension against Paul C. DeMark, a former Morgan Stanley broker who …

Finra Raps Ex-Morgan Stanley Broker Who Said Deceased Client Had Authorized Distributions Read More »

Taken from: Original By: Miriam Rozen   A crackdown on clandestine messaging by traders and dealmakers on Wall Street appears to coincide with a string of WhatsApp enforcement actions in the brokerage industry from the Financial Industry Regulatory Authority. Finra this year alone has sought sanctions three times–against a brokerage, and two brokers at separate firms–because of …

Finra Increases Scrutiny of Brokers’ WhatsApp Use Read More »

LLC Member Pays the Price For Not Sticking to Deadlock-Breaking Script by Peter Mahler  |  Farrell Fritz, P.C. When the management of a closely held business is controlled equally by two owners, it’s wise both to anticipate possible deadlock over major decisions and to provide in the constitutive documents a deadlock breaking mechanism. One such mechanism is …

LLC Member Pays the Price For Not Sticking to Deadlock-Breaking Script Read More »

Force Majeure as an affirmative defense What does the Southern District of Florida have to say?   Force Majeure as a defense in the context of the current Coronavirus Pandemic will be an important issue in business and corporate litigation. Set forth below is a recent case from Judge Middlebrooks that provides a good roadmap …

Force Majeure As An Affirmative Defense Read More »

Matthew L. Jones, Esq. Jones & Adams, P.A. 999 Ponce de Leon Blvd., Suite 925 Coral Gables, FL 33134 o: 305.270.8858 e: matthew@jones-adams.com The COVID-19 pandemic has taken commercial landlords and tenants into dark waters. The pandemic has caused them operational and payment issues that have never been contemplated. Just how long this business interruption …

Commercial Landlords and Force Majeure Clauses – Issues and Strategies Read More »

Coverage and Corona – What to expect from your Insurance Company Matthew L. Jones, Esq. JONES & ADAMS, P.A. 999 Ponce De Leon Blvd., Suite 925 Coral Gables, FL 33134 o: 305.270.8858 e: matthew@jones-adams.com In this new “coronavirus climate”, it is important to keep up-to-date regarding how courts are dealing with business issues that relate …

Coverage and Corona Read More »