Legal Terms and Concepts

Actual Delivery – South Florida Precious Metals Fraud and Misrepresentation Litigation and Arbitration Attorney

Published on: August 27, 2013 | By Russell L. Forkey, P.A.

Florida Precious Metals (Gold, Silver, Platinum, Palladium and Copper) Fraud and Misrepresentation Federal and State Litigation and Arbitration Attorney:

On December 14, 2011, the Commodity Futures Trading Commission (“Commission”) issued in the Federal Register an interpretation regarding the meaning of the term “actual delivery,” as set forth in the Commodity Exchange Act. Recently, the Commission determined to clarify its interpretation, which is reflected in the attached link.

This interpretation is important from the prospective of both sellers and buyers of precious metals using leverage. From a sellers standpoint, failure to comply with the actual delivery provisions, discussed in the interpretation could led to adverse consequences from an enforcement action brought by the Commission or in a civil action brought by a purchaser. CFTC Interpretive Release – Actual Delivery

Notice of Adoption of Final Rule for Broker – Dealers Engaging in a Retail Forex Business – South Florida Retail Forex FINRA and NFA Arbitration Attorney

Published on: July 16, 2013 | By Russell L. Forkey, P.A.

Adoption of Final Rule for Broker-Dealers Engaging in a Retail Forex Business

The Securities and Exchange Commission (Commission) recently announced the adoption of a final rule (Rule 15b12-1) to permit a registered broker-dealer to engage in a retail forex business, provided that the broker-dealer complies with the Securities Exchange Act of 1934, the rules and regulations thereunder, and the rules of the self-regulatory organization(s) of which the broker-dealer is a member insofar as they are applicable to retail forex transactions. The Commission is adopting Rule 15b12-1 substantially in the form previously adopted as an interim final temporary rule and is providing that the rule will expire on July 31, 2016.

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Bond Discount – Florida Bond Investment Breach of Fiduciary Duty FINRA Arbitration and Litigation Attorney

Published on: May 31, 2013 | By Russell L. Forkey, P.A.

Bond Discount – Florida Bond Investment Breach of Fiduciary Duty, Breach of Contract and Negligence FINRA Arbitration and State and Federal Litigation Attorney:

A bond discount is the amount by which the market price of a bond is lower than its face value. Outstanding bonds with fixed coupons go to discounts when market interest rates rise. Discounts are also caused when supply exceeds demand and when a bond’s credit rating is reduced. When opposite conditions exist and market price is higher than face value, the difference is termed a bond premium. Premiums also occur when a bond issue with a call feature is redeemed prior to maturity and the condholder is compensated for lost interest.

Please keep in mind that the information provided in this post is for educational purposes only. It is not designed to be complete in all material respects. Thus, it should not be relied upon as legal or investment advice. If the reader has any questions concerning the contents of this post, you should contact a qualified professional.

Negligent Misrepresentation – Florida Commercial, Business and Tort State and Federal Litigation Attorney

Published on: May 29, 2013 | By Russell L. Forkey, P.A.

Negligent Misrepresentation – Florida Commercial, Business and Tort – State and Federal Court Litigation and AAA Arbitration Attorney:

In order to allege a viable cause of action for negligent misrepresentation a plaintiff must allege in his complaint that: (1) the defendant made a misrepresentation of material fact that he believed to be true but which was in fact false; (2) the defendant was negligent in making the statement because he should have known the representation was false; (3) the defendant intended to induce the plaintiff to rely on the misrepresentation; and (4) injury resulted to the plaintiff acting in justifiable reliance upon the misrepresentation.

Please keep in mind that the information contained in this post is for educational purposes only. It is not designed to be complete in all material respects. Thus, it should not be relied upon as legal advice. If you have any questions concerning the contents of this post, the reader should consult a qualified professional.

Professional Negligence (Malpractice) Claims Against Accountants (CPA), Engineers, Surveyors, Architects and Others – Florida State and Federal Court Litigation and AAA Arbitration Attorney

Published on: May 29, 2013 | By Russell L. Forkey, P.A.

Professional Negligence Claims Against Accountants, Engineers, Surveyors, Architects and Others – Florida State and Federal Litigation and AAA Arbitration Attorney:

In Florida, professional negligence claims require four elements: (1) existence of a legal duty, (2) breach of the duty, (3) proximate causation, and (4) actual loss. Generally, this duty of care only exists between parties who are in privity of contract with one another. The contractual relationship of the accountant, engineers and others and their clients gives rise to tort liability for professional negligence.

In limited circumstances, however, a professional can be liable to non-contractual third parties for economic damages arising from professional negligence. The Florida Supreme Court adopted Restatement (Second) of Torts § 552 to determine an accountant’s liability for negligent misrepresentation. It provides in pertinent part:

Affinity Fraud: Beware of Con-Artists Who Claim Loyalty to Your Group – South Florida Affinity Fraud and Misrepresentation FINRA Arbitration and Litigation Attorney

Published on: December 25, 2010 | By Russell L. Forkey, P.A.

South Florida, including Boca Raton, West Palm Beach, Stuart and Jupiter, Affinity Fraud and Misrepresentation , Especially in the Area of Elder Abuse, FINRA Arbitration and Litigation Attorney:

Affinity Fraud:

State securities regulators are warning investors, especially elder people, to be on guard against a rise in affinity group fraud. What is affinity fraud? It`s simple, but the causes that give rise to it are often more complex.

Seniors Beware: What you Should Know About Life Settlements – Florida Senior and Elder Financial Abuse Fraud, Misrepresentation and Breach of Fiduciary Duty Litigation and Arbitration Attorney

Published on: December 15, 2010 | By Russell L. Forkey, P.A.

Seniors Beware: What you Should Know About Life Settlements – South Florida Senior and Elder Financial Abuse Fraud, Misrepresentation and Breach of Fiduciary Duty Litigation and FINRA Arbitration Attorney:

Life Settlements:

Lately, more and more seniors are hearing about opportunities to sell their existing life insurance for cash in transactions known as life settlements. A life settlement, or senior settlement, as they are sometimes called, involves selling an existing life insurance policy to a third party-a person or an entity other than the company that issued the policy-for more than the policy’s cash surrender value, but less than the net death benefit.

FAQ’s – What Constitutes A Security? Florida Securities Fraud and Misrepresentation Litigation and Arbitration Attorney

Published on: December 8, 2010 | By Russell L. Forkey, P.A.

South Florida, including Dade, Broward, Palm Beach and Martin County, Securities and Investment Broker/Dealer, Investment Advisor and Private Fraud, Mismanagement and Misrepresentation Arbitration and Litigation Attorney

What Constitutes a Security:

What initially comes to most people’s minds when the word security is mentioned is a stock or bond. Yet, from a legal standpoint, the word security has a much more expansive meaning. For example, in the State of Florida the word “security” is defined in Florida Statute 517.021(21). The word “security” includes a note, stock, treasury stock, a bond, a debenture, an evidence of indebtedness, a certificate of deposit, a certificate of deposit for a security, a certificate of interest or participation, a whiskey warehouse receipt or other commodity warehouse receipt, a certificate of interest in a profit-sharing agreement or the right to participate therein, a certificate of interest in an oil, gas, petroleum, mineral, or mining title or lease or the right to participate therein, a collateral trust certificate, a reorganization certificate, a preorganization subscription, any transferable share, an investment contract, a beneficial interest in title to property, profits, or earnings, an interest in or under a profit-sharing or participation agreement or scheme, any option contract which entitles the holder to purchase or sell a given amount of the underlying security at a fixed price within a specified period of time, any other instrument commonly known as a security, including an interim or temporary bond, debenture, note, or certificate, and receipt for a security, or for subscription to a security, or any right to subscribe to or purchase any security or a viatical settlement investment. Wow!

FAQ’s – The Federal Securities Laws – South Florida Securities Litigation and FINRA Arbitration Lawyer

Published on: December 8, 2010 | By Russell L. Forkey, P.A.

The Securities Act of 1933 and The Securities and Exchange Act of 1934 – South Florida, Fort Lauderdale, Hollywood, Davie, Boynton Beach, Boca Raton, Lake Worth and West Palm Beach, Federal and State Court Litigation and Arbitration Attorney:

The Federal Securities Laws:

The purpose of this post is to provide the reader with general information concerning the Securities Act of 1933 and the Securities and Exchange Act of 1934. This information is being provided for educational purposes only. It is not designed to be complete in all material respects. Thus, it should not be relied upon for legal or investment advice. If you have any questions concerning the contents of this post, you should contact a qualified legal or investment professional.