The conference, which coincided with the Securities Experts Roundtable’s (SER) 26th annual membership meeting, met on Friday and Saturday, July 27 and 28, 2018.
The session was called to order by SER president Ross Tulman, Senior Partner of the Trade Investment Analysis Group. Mr. Tulman turned the "gavel" (there's an inside joke there) over to incoming President-Elect Gordon Yale, and, with the organization's business done, the SER then presented the membership with a series of workshops on a variety of topics of benefit to its membership, presented by a mix of experts, private and government attorneys and one law professor, as well as an opportunity for SER rank and file to make themselves heard.
Three Sessions Friday Afternoon
First up was a session on recent developments at FINRA, presented by Richard W. Berry, Esq., Executive Vice President and Director of Dispute Resolution at FINRA, and George H. Friedman, Esq. former Executive VP – Dispute Resolution at FINRA, now Chairman of the Board of Arbitration Resolution Services, Inc. and a SER member himself (ed: also, as a matter of full disclosure, Mr. Friedman is a Contributing Legal Editor to SAC and the SAA). Mr. Berry's presentation proceeded from a PowerPoint outline that we have included in our SAC Reference materials. The Friday session also featured two seminars on less savory subjects. Jordan Maglich, Esq., a senior associate at Wiand Guerra King and creator of the PonziTracker blog, and Stuart Ober, president of Securities Investigations, Inc. and SER member, discussed Ponzi Schemes and the obligations of broker-dealers and registered investment advisers to conduct due diligence. Wrapping up the educative portion of the day, Paul Pelletier, Esq., 27-year veteran prosecutor and former Deputy Chief of the Fraud Section at the U.S. Department of Justice, and Robertson Park, Esq., a former 20-year veteran of the Fraud Section and now a partner at Murphy & McGonigle, addressed the evolution of money laundering.
A Full Day on Saturday
A three-member panel of SER members – Mr. Tulman, who chaired the session; Peter E. Bulger and Stanley Meyerson, also of the Trade Investment Analysis Group, started off the Saturday morning session with a discussion of damage calculations in a variety of circumstances. For attorneys’ perspectives on what makes a good expert witness and how experts may tackle difficult circumstances they may face, the SER turned to Steve Crimmins, Esq. of Murphy & McGonigle and Paul Kisslinger, Esq., Assistant Chief Litigation Counsel for the Enforcement Division of the SEC. Next, Professor Arthur Laby, Esq., Co-Director of the Rutgers Center for Corporate Law and Governance, a nationally-recognized expert on fiduciaries, presented a two-part presentation (with an intermission for lunch) on the history of fiduciary standards and the SEC’s new proposals to expand brokers’ duties to act in their clients’ best interests.
Another three-member panel of SER members presented an open forum discussion regarding best practices with respect to engagement letters, written procedures, qualifications and practice management. It was comprised of moderator-expert Jerry DeNigris, former trading analyst and compliance officer at UBS, Alan J. Besnoff, founder of Securities Expert Witness & Litigation Support, LLC, and Bob Lawson, President of Barrington Financial Consulting Group, Inc. Rounding out the conference, SER President-Elect Gordon Yale of Yale Forensics opened up the floor to the membership, inviting them to tell their own “war stories” as a means of identifying issues that might arise in their expert practices.
Like what you see here?
Twice a week we present blog posts consisting of one write-up from each of our two flagship weekly online Alert services. Consider a subscription to these publications to receive the full array of coverage right on your desktop every week. Give it a try and sign up for a free trial to the Securities Arbitration Alert and the Securities Litigation Alert.