Broker-dealers (“BDs”) should be aware that, on June 5, 2019, the SEC adopted “Regulation Best Interest” (“Reg BI”), which requires BDs and their registered representatives (“RRs”) to “act in the best interest of the retail customer,” when “making a recommendation” regarding “a securities transaction or investment strategy.” In addition, the SEC’s new rules require BDs to deliver Form CRS relationship summaries (“Form CRS”) to retail customers. BDs will need to be in compliance with Reg BI and Form CRS, which were accompanied by more than ...
On June 19, 2019, the New York State Senate and Assembly passed legislation that would, if signed into law, broaden the scope of last year’s ban on clauses requiring employees to arbitrate sexual harassment claims so as to prohibit such clauses with respect to all types of discrimination claims. As reported on this blog, this ban on mandatory arbitration clauses was deemed invalid, as contrary to federal law, by the June 26, 2019 decision of the U.S. District Court for the Southern District of New York in Latif v. Morgan Stanley & Co. LLC, et al. (S.D.N.Y. No. 18-11528). It is too early ...
Recent Updates
- Powerful Tool, but Not an Attorney: Massachusetts Court Rejects Work Product Protection for AI-Generated Documents
- SCOTUS: Venue in White-Collar Case Tied to Proscribed Conduct, Not Intended Effects
- Washington Arbitration Agreements Are Failing Employers in Wage and Hour Cases
- New York’s AVOID Act: Strict Deadlines for Third-Party Practice
- Watch: DOJ’s New Self-Disclosure Rules: Decide Fast or Lose the Credit – Speaking of Litigation