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Lack of Due Diligence Can Turn Broker into Underwriter: World Trade Financial Corp. v. SEC
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No. 12-70681 (9th Cir., 1/16/14). Enforcement Practice/Procedure * Product/Practice Issues (Unlegended Stock) * Capital Formation (Reverse mergers) * 1933 Act (§§4(4), 5 & Public Offerings) * Fiduciary Standards (Brokers) * Duty of Inquiry * Standard of Review (Substantial Evidence;

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FINRA Rule Changes Approved in 2013
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So many changes were being made to the Arbitration (and Mediation) Codes by FINRA Dispute Resolution, at one time it was hard to keep up.

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FINRA Stats, 2013
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FINRA has released its statistical report on arbitration and mediation activities for the month of December 2013, giving us the opportunity to take a statistical look at the year as a whole.

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FINRA Releases 2014 Regulatory and Exam Priorities – Arbitration Not Explicitly On the List, But It’s There If You Look Hard Enough
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FINRA last week announced its 2014 regulatory and exam priorities, chief among them suitability and bad brokers, in a January 2nd press release that included a link to an 11-page open letter to the securities industry.

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Fraud and Contract Breaches are Two Wholly Different Things: Mashreqbank, PSC v. ING Group N.V.
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No. 13 Civ. 2318 (S.D. N.Y., 10/25/13). FRCP (Rule 8 “Fair Notice,” 12(b)(6) “Claim for Relief”) * Timeliness Issues (Contractual Limitations) * Sales Practice/Product Issues (Collateralized Debt Obligations) * Misrepresentations/Omissions * Pleading Requirements/Issues * Remedies (Punitive Damages).

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