Ulmer & Berne LLP | USA | 5 Nov 2018
Last year I wrote about FINRA’s effort to encourage firms to self-report their problems, pausing to wonder at the suggestion attributed to Jessica…
Ulmer & Berne LLP | USA | 3 May 2016
FINRA announced today that it entered into a settlement with MetLife Securities, Inc. in which MetLife agreed to pay FINRA a $20 million fine and its…
Kramer Levin Naftalis & Frankel LLP | USA | 10 Dec 2008
Plaintiffs’ attorneys hoping to find a way around the holding in Rosenberg v. MetLife, Inc., 8 N.Y.3d 359, 834 N.Y.S.2d 494 (2007), which gave employers an absolute privilege against defamation claims for the content of Form U5 filings, were recently dealt a blow by the New York State Supreme Court’s decision in Barclays Capital Inc. v. Shen, 857 N.Y.S.2d 873 (Sup. Ct. N.Y. County 2008).
Faegre Drinker Biddle & Reath LLP | USA | 17 Oct 2008
If you’re not careful, putting a black mark on someone’s form U-5 can be a very costly mistake.
Duane Morris LLP | USA | 24 Jul 2007
On June 14, 2007, the U.S. Court of Appeals for the Second Circuit affirmed the district court's determination that statements made on an NASD Form U-5 are subject to an "absolute privilege" and therefore do not give rise to liability in a defamation lawsuit.
Locke Lord LLP | USA | 12 Jun 2007
Two March decisions of the New York State Court of Appeals, New York's highest court, as well as a May decision by a lower New York Court, will undoubtedly have some impact in the insurance industry.
Kramer Levin Naftalis & Frankel LLP | USA | 30 Apr 2007
Resolving an issue of significance to employers in the financial services industry that has long divided New York state and federal courts, the New York State Court of Appeals definitively held that “[s]tatements made by an employer on a NASD employee termination notice [(Form U-5)] are subject to an absolute privilege in a suit for defamation.”
Venable LLP | USA | 25 Apr 2007
In a decision of great importance to employers in the financial services industry, the New York Court of Appeals recently held that statements made by a brokerage firm on a Uniform Termination Notice for Securities Industry Regulation form ("Form U-5") are subject to absolute immunity in a suit for defamation brought by a former employee.