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Full-Text Articles in Law
Management's Liability For Defamation In Proxy Statements, Morton L. Berg
Management's Liability For Defamation In Proxy Statements, Morton L. Berg
Cleveland State Law Review
The Securities Exchange Act of 1934 specifically provides for a dual system of regulation over securities and persons by both state securities commissions and the SEC, provided that the state authority does not conflict with the Exchange Act or consequent rules and regulations. However, there is no direction given in the Act or its rules as to whether federal pre-emption will be applied when a Commission rule attempts to abrogate the state's common law of defamation.
Broker-Dealer Disclosure Of Corporate Inside Information, James K. Weeks, Jeffrey V. Mccormick
Broker-Dealer Disclosure Of Corporate Inside Information, James K. Weeks, Jeffrey V. Mccormick
Cleveland State Law Review
The recent decisions in the field of securities transactions do not significantly change the legal standards, but they do create an increased awareness of the problems and the limits imposed upon the financial community. It is well established now that a broker's duties to the investing public take precedence over any conflicting duties to his customers or advisees to whom he only owes a duty not to defraud them or profit at their expense. The broker further has a duty to prevent his clients from profiting at the expense of the uninformed public.