August 2013

SEC Adds to and Amends Broker-Dealer Financial Responsibility and Investor Protection Rules

On July 30, 2013, the Securities and Exchange Commission (“SEC”) made two significant announcements affecting broker-dealers: the adoption of new rules designed to increase protections for investors whose money and securities are held by SEC-registered…

New Hampshire: A Leading Jurisdiction for Trust Companies

In another big step forward for New Hampshire in the area of trust company regulation, on June 4, 2013, Governor Maggie Hassan signed into law House Bill 560, eliminating the New Hampshire Board of Trust Company Incorporation (Trust Board) and transferring…

Other Advantages of New Hampshire Law

The elimination of the New Hampshire Board of Trust Company Incorporation, described in the main article, demonstrates the responsiveness of the state’s legislature, executive branch, and regulators in the regulation of trust companies. New Hampshire als…

The Modern Problem of Limitless Liability in Public Contracting Afforded by the Ancient Doctrine of Nullum Tempus Occurrit Regis

July 2013

SEC Lifts Ban on General Solicitation in Certain Private Securities Transactions, Disqualifies “Bad Actors” from Rule 506 Offerings

On July 10, 2013, the Securities and Exchange Commission (the “SEC”) adopted amendments to Rule 506 of Regulation D and Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”) that eliminate the long-standing prohibition on ge…

The Supreme Court’s Decision on DOMA and Its Impact on Employers

As a follow up to our earlier alert, on June 26 in United States v. Windsor, the Supreme Court struck down Section 3 of the federal Defense of Marriage Act ("DOMA"), which had defined "marriage" as a "legal union between a man and a woman," and "spouse" as…