Last week, I had the pleasure of speaking to members of the Financial Planning Association of Long Island. The topic was the duties of financial advisors — registered investment advisors and brokers — to their clients. The SEC has recently issued a new regulation imposing a “Best Interest” standard on registered representatives or brokers. That still leaves different standards governing registered investment advisors and traditional brokers, though it brings the standards closer. The presentation summarizes the relevant standards, including the FINRA “suitability” standard. We also discussed some recent regulatory changes designed to allow financial advisory firms to take action if the reasonably believe elder exploitation may be taking place.
The presentation slides are available at the link below and provide a good summary. If you have any questions, just reach out.
Financial Advisor Duties
Statement on U.S. border policy from New York State Bar Association President Michael Miller
“The current policy of separating minor migrant children from their parents as part of U.S. border policy is cruel and heartless child abuse, it is inhumane, and it is un-American.
“Many of these children have already suffered and this policy imposes a completely avoidable trauma. Additionally, the forced separation of the children from their parents deprives both parent and child of reasonable due process and is a gross departure from the norms of a civilized society.
“The American Academy of Pediatrics has pointed out that by forcefully removing children from a parent or parents on whom they have relied throughout an arduous journey to the border, the U.S. government is engaging in child abuse that can result in irreparable harm with lifelong consequences.
“The American Medical Association has adopted a resolution opposing the practice of separating migrating children from their caregivers in the absence of immediate physical or emotional threats to the child’s well-being.
“The United Nations High Commissioner for Human Rights has severely criticized the U.S. border policy of separating migrant minor children from their parents, calling such actions ‘unconscionable.’
“The New York State Bar Association calls upon the Trump administration to immediately cease this dangerous and inappropriate policy, which denies the children and their parents basic due process and potentially exposes the children to serious long-term harm.
“We also call upon our members to contact their representatives in the U.S. House and Senate with a simple message: Immediately enact legislation prohibiting the separation of children from their parents at the border, absent physical or emotional threats to the children’s well-being.”
Welcome! I am lawyer, I love the law, and I have great faith that it can help and protect people. I love to talk and I love to write. So I’ve decided to start this blog to discuss legal issues that may be of interest and could possibly be helpful. Why am I doing this?
Leaving aside that I like to talk and write about the law, after more than 2o years of working at large law firms handling complex legal matters and working thousands of hours a year, I’ve decided to work on my own and practice law in a way that makes me happier and I hope will help people too. In that spirit, I thought this blog would help me by having you get to know me and would help others by providing some useful information. I hope it does both.
I’ll be updating periodically with whatever I think is interesting. Check back and let me know what you think.