Broker-Dealer Law and Regulation, Fifth Edition

Whether you represent brokerage firms and their employees or shareholders and investors, your clients depend on your informed counsel to help them thrive in today's securities markets. With Broker-Dealer Law and Regulation, Fifth Edition, the authoritative analysis and practical guidance you need to advise clients on their rights, duties, and liabilities under today's complex securities regulations is at your fingertips. Written by two of America's leading securities authorities, James A. Fanto and Jill I. Gross, Broker-Dealer Law and Regulation gives you reliable guidance on the latest federal and state law governing private litigation and arbitration between broker-dealers and their customers, as well as regulation by the SEC and Financial Industry Regulatory Authority (FINRA).

Broker-Dealer Law and Regulation has been completely revised, reorganized and expanded to provide a comprehensive guide to the regulation and compliance obligations and the legal rights, duties, and potential liabilities of broker-dealers and their associated persons. The new Fifth Edition includes:

• Revised chapters covering the securities industry, the structure of the securities markets, and SEC and FINRA regulation and enforcement
• A continued emphasis on regulation affecting broker-dealers and their compliance obligations, with particular attention to their supervisory responsibilities
• Enhanced attention to a broker-dealers’ compensation practices and mitigation of conflicts of interest     
• Straightforward discussion of a broker-dealer’s financial obligations, including the net capital rule and reserve requirements
• Analysis of the relationships between broker-dealers and other financial institutions
• Expanded coverage of broker-dealer registration and exemptions, recordkeeping and reporting requirements, anti-money laundering obligations and requirements to protect customer information, and more
• A new chapter on advertising regulation
• Expanded coverage of broker-dealers in capital raising, both public and private
• Updated and streamlined chapters on securities fraud, preemption of state law, damages, vicarious liability, and other related topics
• New insight into important securities law decisions of the Supreme Court and other courts relevant to both securities litigation and arbitration, as well as SEC and FINRA rules bearing on these matters
• Up-to-date guidance on the legal rights, duties, and potential liabilities of broker-dealers and their associated persons to their customers
• A completely reorganized Part addressing arbitration in the securities industry, the law governing arbitration agreements, and the FINRA arbitration and mediation process, with a separate chapter on judicial review of arbitral awards.

Previous Edition: Broker-Dealer Law and Regulation, Fourth Edition, ISBN 9780735567856

PART A INTRODUCTION AND REGULATORY BACKGROUND

1. Introduction to Broker-Dealers in the Securities Industry

2. Broker-Dealers Within Financial Conglomerates

3. Broker-Dealers in the Securities Markets

4. An Overview of the Regulatory System Affecting Broker-Dealers

5. SEC and SRO Enforcement and Disciplinary Proceedings Involving Broker-Dealers

6. Broker Compensation and Conflicts of Interest

PART B REGISTRATION, REGULATION AND COMPLIANCE

7. Broker-Dealer Registration and Exemptions

8. Broker-Dealer and Associated Person Registration Process

9. Broker Recordkeeping, Reporting, and Examinations

10. Financial Regulation of Broker-Dealers

11. Privacy and Anti-Money Laundering Regulation in Broker-Dealers

12. Broker-Dealer Advertising Regulation

13. The Broker-Dealer’s Duty to Supervise

14. Broker-Dealers in Public and Private Offerings

PART C BROKER-DEALER DUTIES AND CUSTOMER PRIVATE RIGHTS OF ACTION

15. Broker-Dealers’ Duties to Customers

16. The Suitability Doctrine

17. Liability of Broker-Dealers Under State Law

18. Federal Statutory Claims Against Broker-Dealers

19. Vicarious Liability

20. Common Defenses in Actions Against Broker-Dealers

PART D ARBITRATION OF SECURITIES DISPUTES

26. Arbitration in the Securities Industry

27. The Law Governing Arbitration Agreements

28. The FINRA Arbitration Process

30. Judicial Review of Arbitral Awards

Table of Cases

Table of Statutes, Rules and Other Sources

Index