BNA Publications Quote Partner Paul McCurdy on Financial Reform Law
July 28, 2010

Partner Paul F. McCurdy was quoted in a BNA article, "Practitioners Say Reform Law Will Affect Financial Institutions' Litigation Exposure." Mr. McCurdy addressed how studies and reports required by the new law could affect broker-dealers. The article noted the law requires the SEC to complete a study, which analyzes gaps in the current broker-dealer and investment adviser regulatory regimes and proposes rules to eliminate any gaps. Mr. McCurdy said that the law does not impose a new fiduciary standard on broker-dealers. However, the possibility exists for the SEC to impose a new standard in the future, and that additional studies could recommend similar, new regulations on existing products and services.

The article was included for publication in six BNA news sources: Daily Report for Executives, Banking Daily, Banking Report, Securities Law Daily, Securities Regulation and Law Report and the Alternative Investment Law Report.