The Supreme Court Weighs in on Arbitrability, But Questions Remain
1/31/19
By: Ted Peters
As reflected in a prior article, the United States Supreme Court recently agreed to take another look at the issue of arbitrability. In the case of Henry Schein, Inc. v. Archer & White Sales, Inc., …
9/14/18
By: Ted Peters
The question of arbitrability (i.e., Who decides whether a dispute is arbitrable? The court or the arbitrator(s)?) is as ageless as the conundrum of what came first, the chicken or the egg. In 2010, the Supreme …
Loss of SEC Commissioners Piwowar and Stein May Wreak Havoc on SEC’s Proposed Fiduciary Regulations
6/1/18
By: Ted Peters
On May 7, 2018, Republican SEC Commissioner Michael Piwowar announced that he will resign effective July 7, 2018. Piwowar’s five-year term expires on June 5, but SEC commissioners are permitted to remain in office for up to …
9th Circuit Holds Inadmissible Evidence May Support Class Cert
5/17/18
By: Ted Peters
Courts around the country are split over whether admissible evidence is needed to support a class certification. The Fifth Circuit requires it, and the Seventh and Third Circuits appear to be of the same opinion. In contrast, …
DOL Fiduciary Rule Suffers a Slow Death
5/15/18
By: Ted Peters
In 2016, the U.S. Department of Labor (“DOL”) promulgated a set of rules and regulations now infamously referred to as the “Fiduciary Rule.” After multiple criticism and legal challenges, the Fifth Circuit Court of Appeal struck down …
DOJ Fails to Challenge 5th Circuit Ruling Striking Fiduciary Rule
5/3/18
By: Theodore C. Peters
On March 15, 2018, the Fifth Circuit Court of Appeal stuck down the “fiduciary rule” proposed by the Department of Labor (DOL), which required brokers to act in the best interests of their clients in retirement …
Schiff Hardin Requests 5th Circuit To Dismiss Insurer's Malpractice Suit
4/25/18
By: Barry S. Brownstein
Schiff Hardin, LLP, asserting that it has immunity under Texas law, has appealed to the Fifth Circuit seeking to end a suit filed by Ironshore Europe DAC, alleging that the law firm’s bad advice in connection …
SEC Fiduciary Rules Proceeds on Split Vote
4/19/18
By: Theodore C. Peters
The Securities and Exchange Commission (“SEC”) conducted a public hearing on April 18, 2018 to address a series of SEC proposals governing securities professionals. Recall that the Department of Labor previously sought to promulgate a “fiduciary …
Has Fiduciary Rule Suffered a Fatal Blow?
4/4/18
The Employee Retirement Income Security Act of 1974 (“ERISA”) defined a “fiduciary” as someone who provides investment advice for a fee. The following year, the U.S. Department of Labor (“DOL”) promulgated regulations that provided a five-part …