Briggs and Morgan Fourth Annual Securities Forum a Success

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July 12, 2013

The Financial Markets Group’s fourth annual Upper Midwest Securities Litigation and Enforcement Forum was a great success and received high praise from attendees: “Outstanding forum!” “Informative, interesting, and useful in practice;” were some of the comments received. The June 14th event took place in downtown Minneapolis and attracted more than 75 attendees from the area’s top financial companies. Joining Briggs and Morgan attorneys were distinguished panel members from the SEC, FINRA, Minnesota Department of Commerce, U.S. Attorney’s Office, the University of Minnesota Law School, as well as executives from national financial services companies.

The full-day agenda featured six panels, with a general theme of the future of interest rates and what can happen when they rise. Industry experts shed insight on the historical fluctuation of interest rates and opined on what the future may hold. Not more than a week later, Federal Reserve Chairman Ben Bernanke announced that the Fed would slow bond buying starting in 2014, which indeed caused interest rates to creep up.

Panelists also analyzed current trends in insurance products, how low interest rates and changes in state and federal governance are currently reshaping the industry, and how insurers are developing new products to meet consumers’ needs. Industry regulators and advisors then discussed current trends in enforcement and their priorities for the next 12 months, including Minnesota’s rules on registering investment advisors.

Additionally, current and former federal prosecutors and SEC enforcement attorneys provided insight in working with federal officials during investigations, and discussed the SEC’s new whistleblower program. Seasoned compliance professionals explored why some financial advisors turn to selling away when the market is in flux, and shared tips and practices on supervision. The day concluded with an update on recent securities case law, including the impact of SEC regulation of attorneys’ work, the impact of Dodd-Frank on the broker-dealer landscape, and recent decisions from the U.S. Supreme Court upholding the enforcement of arbitration agreements under federal law.

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