Jeffrey Blackwood has practiced in the Jackson office for over 22 years and has handled a variety of complex commercial litigation matters. He recently represented a private equity firm in a breach of contract matter during the pandemic that involved numerous hearing and over 25 depositions. He is actively representing broker-dealers and registered investment advisors in FINRA arbitrations and investigations before the Mississippi Secretary of State Securities Division. Jeffrey has successfully tried a case in Delaware Chancery Court representing a trust in litigation involving investment LLCs, where the client prevailed and was awarded attorneys’ fees, and he recently obtained dismissal of a putative class action in federal court in Mississippi representing a healthcare client. He routinely speaks and writes on topics related to securities regulatory and enforcement matters. He also has significant experience in representing life insurance companies and brokers in a variety of matters, including sales practice litigation, regulatory actions and professional negligence actions. View articles by Jeffrey.
In a highly anticipated decision, the United States Supreme Court ruled the practice employed for years by the Securities and Exchange Commission of choosing administrative law judges to hear SEC enforcement actions, violates the Appointments Clause of the Constitution. The Supreme Court, in Lucia v. Securities and Exchange Commission, held that administrative law judges (ALJs) … Continue Reading
The SEC announced a self-reporting initiative for investment advisors who admit violations of the federal securities laws relating to certain mutual fund share class election issues while promptly returning money to harmed investors. The initiative is entitled the “Share Class Selection Disclosure Initiative” and is focused on those advisors who have put clients into high-fee … Continue Reading
Tell the truth, the whole truth, and nothing but the truth: that’s the message to registered investment advisors from the Office of Compliance Inspections and Examinations (OCIE) in a recent risk alert about the SEC’s Advertising Rule (Rule 206(4)-1). The rule prohibits advisors from making untrue statements of material fact and from otherwise including misleading … Continue Reading
In a decision previewed in an earlier post, the United States Supreme Court ruled unanimously in Kokesh v. Securities and Exchange Commission that the five-year statute of limitations in 28 U.S.C. section 2462 applies to SEC enforcement actions seeking the remedy of disgorgement. Resolving a Circuit split, the Supreme Court ruled that disgorgement is a “penalty” … Continue Reading
The SEC recently approved FINRA’s proposed rule aimed at preventing fraud and abuse of senior investors. On March 30, FINRA issued Regulatory Notice 17-11, setting the effective date for the new rule as February 5, 2018. The notice provides for the adoption of new FINRA Rule 2165, which will permit members to place temporary holds … Continue Reading
How long does the Securities and Exchange Commission (SEC) have to bring a lawsuit asking for disgorgement of unlawful gains? The United States Supreme Court will decide that issue this term in Kokesh v. Securities and Exchange Commission. Under federal law, no “action, suit or proceeding for the enforcement of any civil fine, penalty, or … Continue Reading
Bradley’s Banking & Financial Services Team is pleased to announce a new blog series led by its Broker-Dealer and Investment Advisor Team. The series will focus on issues critical to assisting financial institutions and service providers in maintaining compliance, protecting their operations and developing their businesses while minimizing risk. Bradley’s Broker-Dealer & Investment Advisor Team … Continue Reading