Topic
client funds
150 published works
Legal Profession Blog
Less Than Disbarment For Attorney Who Took Funds To “Satisfy Personal Desires”
The Illinois Review Board has proposed a one-year suspension of an attorney who failed to safeguard funds.A sanction less less than disbarment was appropriate becauseWe agree with the Hearing Board…
Legal Profession Blog
Sum Uncertain
The Michigan Attorney Disciplinary Board affirmed the imposition of a 180-day suspension by consent without requiring restitution.The formal complaint alleged that, in 2007, Dr. Poss transferred nearly $22 million to…
Legal Profession Blog
As Pennsylvania Goes So Goes New Jersey
Reciprocal disbarment has been imposed by the New Jersey Supreme Court of an attorney suspended for five years in Pennsylvania,As the Disciplinary Review Board explainedIn his brief to us, respondent…
Legal Profession Blog
That’s Not Entertainment
A two-year suspension of an entertainment law attorney has been imposed by the New York Appellate Division for the First Judicial Department.Respondent focuses her practice on corporate transactions, with an…
Legal Profession Blog
Gift Cards And Basketball Tix
Disbarment but not permament disbarment should be imposed on an attorney, according to a recent report and recommndation of a Louisiana Hearing Committee.The problems began with her employerIn January of…
Legal Profession Blog
No Notice Of Theft Charges: No License Revocation
The Iowa Supreme Court rejected the license revocation recommendation of its Attorney Discipline Board and suspended an intellectual property attorney for not less than six months. The court concluded that the…
Elder Law Prof Blog
Pennsylvania’s New Pro Rep Rules Target Financial Accountability for Lawyers, Including Restrictions re Sales of “Investment Products”
New rules supplementing Pennsylvania's Rules for Professional Conduct, adopted by the Pennsylvania Supreme Court in late 2014, are intended to require greater accountability by lawyers for handling of client funds, including sums temporarily…
Legal Profession Blog
Attorney Absolved Of Theft Charges; Majority Cites Pleading Defect
The recommendation of an Illinois Hearing Board is summarized belowThe Administrator filed a one-count complaint against Respondent, alleging that she failed to deposit her client's settlement funds into her client…
Legal Profession Blog
Theft Enabler Gets Suspended
The Indiana Supreme Court ordered a suspension of not less than six months without automatic reinstatement of an attorney's whose failure to register a trust account facilitated another lawyer's thefts.Respondent…
Corporate & Financial Weekly Digest
CFTC Issues 30.7 Customer Funds No-Action Relief and Interpretation
By Kevin M. Foley, James M. Brady
The Division of Swap Dealer and Intermediary Oversight (DSIO) of the Commodity Futures Trading Commission has issued no-action relief and interpretive guidance for futures commission merchants (FCMs) with customers that…