Turbeville v. Department of Financial Services
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By Burton W. Wiand

That a state insurance agency relies, for revocation purposes, upon a sanction for refusing a FINRA Rule 8210 request,

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SEC v. Blockvest, LLC
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By Ben Suter

Proof of investors’ expectations in a company’s future business is insufficient to prove an “expectation of profits” required for an investment to be a “security” under securities laws.

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Federal Court Eschews Jurisdiction Over State Enforcement Proceeding: Enforcement Section of the Massachusetts Securities Division v. Scottrade, Inc.
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By Paul J. Dubow

*Under the federal ingredient doctrine, a well-pled complaint arises under the laws of the United States if a state law cause of action “requires resolution of a substantial question of federal law”

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Court Affirms SEC’s Rejection of Case That Court Previously Insisted Plaintiffs Bring to SEC: CBOE v. SEC
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By James L. Komie

The SEC’s decision that it does not have jurisdiction to hear a claim for damages filed by market makers against the CBOE and NASDAQ is not unreasonable and must be affirmed under the Chevron Deference Doctrine.

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Programmer Appropriates Inappropriately in a Tangible Transgression: People v. Aleynikov
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By Noah D. Sorkin

A defendant violates New York Penal Code §165.07 when he reproduces a company’s proprietary computer code in a tangible form with the intent to do so and without authorization,

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SCOTUS Scorns Appointments of SEC Administrative Law Judges in Enforcement Appeal: Lucia v. SEC
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By Ben Suter

The SEC’s administrative law judges are officers subject to the Appointments Clause.

Lucia vs.

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