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Senator Burr Sued for Insider Trading in Violation of the STOCK Act - Two days ago, North Carolina Senator Richard Burr was sued by a shareholder in Wyndham Hotels and Resorts in the United States District Court for the District of Columbia. In the complaint, the plaintiff alleged… ... Read More
Wake County Courts Postpone Cases in Response to Coronavirus - On Friday, March 13, 2020, officials of Wake County Superior Court announced that some but not all pending court cases will be postponed for at least 30 days. The Court's memorandum to members of the… ... Read More
FINRA Arbitration Claims Likely to Spike due to Current Market Crash - At present, the stock market appears to be in free-fall, with most major market indices down approximately 25% in the past two weeks. The extent of the current crash and the duration of the recovery… ... Read More Does Your Securities Broker or Investment Advisor have Errors and Omissions Insurance? - When shopping for an investment firm, or during your next meeting with your financial professional, ask whether the firm carries errors and omissions insurance. This type of insurance, also known and “E&O coverage,” insures against… ... Read More Federal Bar Association Rebukes Trump for Interferring in Roger Stone Case - The Federal Bar Association is the nation's oldest and most prestigious organization of attorneys and judges who share a common interest in the welfare of the federal court system. On February 19, 2020, in response… ... Read More Happy New Year! Federal Court Strikes Down North Carolina’s Racist Voter ID Law - In an order dated December 31, 2019, Judge Loretta C. Biggs ruled that North Carolina's racist voter identifcation law violates Section 2 of the Voting Rights Act and the Fourteenth and Fifteenth Amendments of the… ... Read More Edward Jones Twice Denied Injunction Requests Against Ex-Brokers - In two cases decided within the last 30 days, Edward Jones was denied requests for injunctions against former brokers it accused of stealing trade secrets and soliciting customers. Edward D. Jones & Co., L.P. v.… ... Read More NC is One of Two States Selected to Pilot a Program to Increase Reporting of Elder Financial Exploitation - North Carolina is one of two states that will implement a pilot program to facilitate the reporting of suspected cases of financial abuse of the elderly. A new federal grant has created a secure, unified… ... Read More
Andrew Whiteman Appointed to Grievance Committee - Andrew Whiteman has been appointed to serve on the Grievance Committee of the Tenth Judicial District Bar. The Tenth Judicial District Grievance Committee is made of attorneys and laypeople. This Committee receives referrals from the… ... Read More U.S. Supreme Court to Decide whether the SEC has the Authority to Order Disgorgement of Illegal Profits - On November 6, 2019, the United States Supreme Court agreed to decide a case that challenged the SEC’s power to seek disgorgement in court as a penalty for securities law violation. In the case of… ... Read More Investor Advocates Call on FINRA to Immediately Stop the Expungement of Customer Complaints - The Public Investor Arbitration Bar Association (known as PIABA) is a nationwide association of attorneys who advocate for investors through litigation and arbitration and regulatory reform. In a report prepared by The PIABA Foundation, titled… ... Read More Investment Adviser Permanently Barred over Conflicts of Interest, Failure to Disclose, and Violation of Best Execution Rules - I previously wrote about the SEC’s increased emphasis on the enforcement of an investment advisor’s obligation to provide its customers with the “best execution” of recommended securities trades. See SEC Announces Results of Share Class… ... Read More Raleigh Investment Adviser Stephen Condon Peters Sentenced to 40 Years In Prison for Operating a Ponzi Sheme - Stephen Condon Peters, a Raleigh investment advisor, was sentenced to 40 years in prison after being found guilty following a jury trial in the United States District Court for the Eastern District of North Carolina.… ... Read More State Attorneys General Sue the SEC to Nullify Regulation Best Interest - On September 9, 2019, seven states and the District of Columbia sued the United States Securities and Exchange Commission to invalidate Regulation Best Interest: The Broker-Dealer Standard of Conduct (“Regulation BI”). The Attorneys General of… ... Read More
HHS Office of Civil Rights Settles its First Medical Records Enforcement Case - Earlier this year, the Office for Civil Rights (“OCR”) of the U.S. Department of Health and Human Services (“HHS”) announced that it would vigorously enforce the Federal rights of patients to receive their medical records… ... Read More