Securities Litigation

Last week, in Jones v. Harris Associates, No. 08-586 (U.S. Mar. 30, 2010), the U.S. Supreme Court held that fees which investment advisers charge mutual funds may not be so high that they must have resulted from undue influence. More specifically, the Jones Court held that a mutual fund shareholder, in order to show that a mutual fund investment adviser breached the “fiduciary…Read More

A bill proposed in November 2009 by U.S. Senator Christopher Dodd (D-CT), the Restoring American Financial Stability Act of 2009, would require stock and insurance brokers to register as investment advisers with the Securities and Exchange Commission. The Senate bill would subject brokers to the Investment Advisers Act of 1940 (the “Investment Advisers Act”). The bill is linked here: http://banking.senate.gov/public/_files/AYO09D44_xml.pdf…Read More