Well hello again, and Happy Valentine’s Day! Sorry for the long hiatus, but glad to be back with this piece from Nathan, who is too modest to call himself Mr. Crypto…but if the shoe fits…. Not saying I always understand what he says, but it’s nice to have him as an incredible resource for this
Nathan Lamb
Nathan focuses his practice on securities-related litigation, Financial Industry Regulatory Authority (FINRA), the United States Securities & Exchange Commission (SEC), and state securities commission regulatory investigations and disputes.
Nathan defends brokers, broker-dealers, and investment advisors in FINRA arbitrations, SEC actions, and FINRA enforcement actions. His practice also involves advising clients on how to navigate the complex financial services regulatory environment. Nathan has been listed as an Illinois Super Lawyer Rising Star.
Contact:Read more about Nathan Lamb
Correlation DOES NOT Equal Causation: PIABA’s Ongoing Quest to Sully the Reputation of Financial Advisors
By Nathan Lamb on
Posted in Arbitration, Expungement
Today, the Public Investors Arbitration Bar Association (PIABA) published another hit piece on the expungement process. For those of you interested, you can find it HERE. Again and again, PIABA issues press releases and reports contending that the expungement process is broken because expungement is granted at an “alarmingly high rate.” Let’s start with…
Quick Hits: That’s Right. The Hits Keep Coming for Registered Individuals
By Nathan Lamb on
A couple of events caught my attention this week and, since they are related, I thought I’d address them together.
On Monday, the SEC announced a proposed rule change to FINRA Rule 8312, the FINRA BrokerCheck Disclosure Rule. Rule 8312 permits FINRA to disclose certain information on BrokerCheck about registered individuals. As many of you…
Trying to Avoid Repaying a Forgivable Loan? No hiding in bankruptcy!
By Nathan Lamb on
Posted in Forgivable Loans, Note Claims
As an attorney that prosecutes non-payment of forgivable loan claims on behalf of BDs, I find these cases typically go one of two ways. In one case, the departed RR raises a series of frivolous counterclaims to try to get out from paying what is, on its face, usually a clear cut breach of contract…
Actions Speak Louder Than Words: The Regulation of Chief Compliance Officer (CCO) Conduct
By Nathan Lamb on
Yesterday, the SEC held its 2015 “National Compliance Outreach Program for Broker-Dealers.” The program was designed to “provide[] an open forum for regulators and industry professionals to share strong compliance practices and promote the exchange of ideas to develop an effective compliance structure.” In the spirit of this cooperation, SEC Chairwoman White opened the conference…
FINRA Got It Right – The New Definition of a Non-Public Arbitrator
By Nathan Lamb on
Posted in Arbitration, FINRA
By now, it should be clear, we are oft to criticize FINRA in this blog. Much of that criticism is self-inflicted by, in our view, their unfair or unreasonable decisions. But, in a departure from the norm, I want to recognize an instance when FINRA is getting something right.
Effective this Friday, there will be…
Why are Senior Investors so Special? (Part 2)
By Nathan Lamb on
In a recent blog post, I wrote about the challenge a rapidly deteriorating change in mental capacity can cause BDs and RRs alike. Often, we are asked to speak to groups and firms, and this subject is a popular one. In my view, there are a couple of reasons for this development.
First, FINRA has…
SEC Advises Investment Companies and Registered Advisers to Formulate and Implement a Cybersecurity Plan
By Nathan Lamb on
Obviously, given the name of this blog, the focus is on broker-dealers, but we also have a robust practice advising RIAs and investment management companies. In that vein, a group of attorneys working in our Cleveland office published a Client Alert today that discusses a recent Investment Management Guidance Update published by the SEC.
The…
Why are Senior Investors so Special? (Part 1)
By Nathan Lamb on
Over the last few months and years, securities regulators have repeatedly emphasized the special care and attention senior investors[1] should be afforded by broker-dealers and their associated persons. As part of that focus, on April 15, 2015, FINRA and the SEC Staff published their National Senior Investor Initiative Report. The report highlighted recent…