Please forward this email to your contacts and encourage them to subscribe. Non-members can subscribe here and receive future quarterly issues directly. You can also find this issue and all past issues on SER's Newsletter webpage.

Contributor: George H. Friedman ([email protected])

(ed: This column follows recent items of interest to securities experts and relating to arbitration practice. These items are drawn from recent editions of the Securities Arbitration Alert (updated where necessary) and appear here with the permission of the Alert’s publisher. This issue’s column is compiled by the SAA’s publisher and Editor-in-Chief, George H. Friedman. Note that all 2021, 2022, and 2023 back issues of the Alert can be downloaded free of charge here.)

CFPB PLANS TO ISSUE FINAL NONBANK REGISTRY RULE IN MARCH. The CFPB’s recently released Fall rulemaking agenda shows that the agency plans to issue in March its final rule on a registry for nonbanks. READ MORE

BATES GROUP DOES DEEP DIVE ON FINRA DR STATS. The Bates Group recently posted a report analyzing FINRA’s dispute resolution stats through the third quarter. READ MORE

TRICK OR TREAT: ON HALLOWEEN, DOL PROPOSES ERISA FIDUCIARY RULE. The Department of Labor's (“DOL”) Employee Benefits Security Administration has proposed: “a new rule that would protect workers' retirement savings by updating the regulation defining a fiduciary under the Employee Retirement Income Security Act (ERISA).” READ MORE

Contributor: George H. Friedman ([email protected])

(ed: By reading how courts and arbitrators value, view and utilize testifying experts or decide issues experts encounter on a regular basis, one can better serve the factfinder, more effectively help the client, and more likely avoid a bad experience. For selected court decisions, we draw again from the Securities Arbitration Alert (SAA), and other resources. Note that all 2021, 2022, and 2023 back issues of the Alert can be downloaded free of charge here.)

Coinbase v. Suski, No. 23-3. The Supreme Court has granted Certiorari in another arbitration-related case. Coinbase was one of the arbitration-centric cases at SCOTUS referenced in SAA 2023-36 (Sep. 21) and in our recent blog post, First Monday in October Coming Soon: Some Arbitration-Centric Cases Worth Following. READ MORE

Han v. J.P. Morgan Securities, LLC, FINRA ID No. 18-02978 (New York, NY, Jul. 7, 2023). In confirming the Award, the Court rejects a broker-dealer’s cross-petition to vacate the Award, which argued that a majority of the Panel manifestly disregarded the law. READ MORE 

Cordova Armijos v. Raymond James & Associates, Inc., FINRA ID No. 18-02934 (Miami, FL, Nov. 1, 2023). The three-member FINRA arbitration panel rejects liability against a clearing broker that allegedly facilitated trading in fraudulent securities. READ MORE

Contributor: Patti Koetting ([email protected]) 

(ed: SER’s Committees are composed of two Board Members, and most have one or more members at large. Our Committees and members are listed under the “About Us” button on our Home Page.)

JANUARY BOARD MEETING: SER's Board of Directors will meet for their regular winter meeting on Saturday January 20th. The Board meets at least twice annually, once in January and once mid-year, usually in combination with the Annual Conference. While Directors always enjoyed meeting in person, the Board decided to again meet via Zoom for the winter meeting. The time and costs saved is notable.

In addition to reviewing the financial status of the organization (previous year's Financials and approving a budget for the new year), the Board hears from each of the established Committees. Committee Chairs report on their past progress and their expectations for this year. Directors encourage all members to reach out any time with suggestions on how we can improve the membership experience. If you are interested in participating on a committee, please reach out to any Director, Committee Chair or Executive Director Patricia Koetting ([email protected]).

Contributor: Patti Koetting ([email protected])

SER member Tom Selman was a featured speaker for InvestorCOM's webcast: "Understanding SEC's 2024 Exam Priorities & Enforcement Agenda" in December 2023, and offered insightful perspective on the SEC's 2024 exam priorities and related enforcements.

SER member Jeffery Schaff co-authored an article published in the PIABA Bar Journal (Vol. 30, No.2), entitled "Document Discovery In RIA Cases." It delved into specific discovery issues in customer cases involving registered investment advisors.

MEET OUR NEWEST MEMBER! (Click on a name to view the full profile on SER's website, where you can also access their contact info and website. Better yet, reach out and connect to find out more about them.

David MacNair has over 30 years of experience as a financial crime compliance executive building anti-money Laundering (“AML”), due diligence and fraud management programs in the broker-dealer space. He specialized in the management of suspicious activity report (“SAR”) investigations covering potential money laundering, customer suitability, market manipulation, penny stock fraud, cybersecurity, cryptocurrency and high-risk products (i.e., private placements, cannabis issuers). David is available to assist with the preparation of complaints, responses, and expert reports utilized during settlement negotiations, and to testify as an Expert Witness.

If you have a potential member to nominate, please contact SER's Membership Chair Patrick Dennis ([email protected]) or visit our Become a Member page.

UPDATE ARBCHEK: This free report delivers summaries that link to securities arbitration Awards from all forums, including FINRA. As a licensed distributor of FINRA Awards, SAC obtains FINRA Awards within days of their issuance. With UPDATE: ARBchek (aka SAC’s Award Reporter), you can view the Awards as we get them! If you are not receiving this weekly email, contact Executive Director Patti Koetting @ [email protected].

To view Update ARBchek, click View this Week's Awards.

DISCOUNT ON SAC’S ARBITRATOR RANKING SERVICE: ARBchek is a powerful online search tool designed to streamline the Award review process during the critical arbitrator ranking phase. With ARBchek, you may search 65,000+ Award records, viewing the results in summarized formats. If you think an attorney would benefit from the ARBchek service when preparing to rank his/her arbitrators, you can benefit the client by obtaining for them a substantial discount for the ARBchek package. The benefit to you is that it builds good will with retaining counsel and gets you involved with the case process at an earlier point.

LOG IN AND CLICK ON THE BENEFITS TAB FOR MORE INFORMATION.

Contributor: Patti Koetting ([email protected])

Final Note: The Contributors are members of the SER Public Relations Committee. They have designed this newsletter for the membership and worked to gather material for this issue. Members can help by sending Contributors information and suggestions for content in future issues. Members should also visit SER's "Newsroom" section of the Website periodically, as many of the items that appear here will be first posted in the Newsroom.

Copyright 2024 Securities Experts Roundtable - publication appears three times a year and is available as a membership benefit to experts of the Securities Experts Roundtable. Comments - suggestions welcome. Email [email protected] with comments.

Mission Statement: SER provides continuing professional education and promotes ethics and integrity among its members while remaining dispute neutral as an organization.

Disclaimer: This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. The publisher is not engaged in rendering legal, accounting or other professional service or advice. If legal advice or other expert assistance is required, the services of a competent professional person should be sought.