May 2007 Monthly Luncheon

 

Speaker Lori Martin
Partner, WilmerHale

 

Presentation: 

 

Ms. Lori Martin, a Partner at WilmerHale, along with Mr. Michael Udoff, Vice-President and Associate General Counsel of the Securities Industry and Financial Markets Association spoke on issues regarding fee-based brokerage accounts. This presentation was especially timely in light of the D.C. Circuit Court's recent decision in Financial Planning Association v. SEC, in which the court ruled that the SEC exceeded its authority under the Investment Advisers Act when it promulgated Rule 202 (a)(11)-1 exempting certain broker-dealers providing fee-based brokerage accounts from registering as investment advisers.