Which Laws Apply to Broker-Dealers? Federal Laws? State Laws? Both? General Principles Leading to an Answer

TAMAR FRANKEL

BU Law emerita professor Tamar Frankel explains the law of preemption as it pertains to broker-dealers and their investor clients. She predicts, among other things, that either the clients will demand that broker-dealers adhere to a fiduciary duty, or else that states will impose that duty on them.

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Seldin v. Estate of Silverman

Citation: 305 Neb. 185

Opinion Date: March 6, 2020

Judge: Michael G. Heavican

Areas of Law: Arbitration & Mediation

The Supreme Court affirmed as modified the district court's confirmation of an arbitration award of almost $3 million under the Federal Arbitration Act (FAA) and awarding attorney fees as a sanction under Neb. Rev. Stat. 25-824, holding that no grounds existed for vacating or modifying the award, and therefore, the parties were bound by their agreement to arbitrate and the arbitrator's construction of that agreement. The Supreme Court affirmed the district court's confirmation of the arbitration award and the denial of Appellants' motions to vacate and/or modify the award, holding (1) the district court did not err in confirming the arbitration award and denying the motions to vacate and/or modify the award; (2) the district court did not err by denying a motion to supplement the record; (3) the district court did not abuse its discretion in awarding attorney fees; and (4) the court did not err in awarding sanctions.

State v. Gomez

Citation: 305 Neb. 222

Opinion Date: March 6, 2020

Judge: Papik

Areas of Law: Criminal Law

The Supreme Court affirmed Defendant's conviction for violating a domestic abuse protection order, holding that there was sufficient evidence that Defendant was personally served with the protection order. On appeal, Defendant argued that his conviction must be reversed because the service return the State introduced at trial did not specifically state that Defendant was served with the protection order he allegedly violated. The Supreme Court affirmed, holding (1) in cases alleging a violation of Neb. Rev. Stat. 42-924(4), in which the defendant does not receive the notice described in Neb. Rev. Stat. 42-926(2), the State must demonstrate that the defendant was personally served with the protection order; (2) the State in this case was required to demonstrate that Defendant was personally served with the order affirming the protection order; and (3) there was sufficient evidence of such service.

Sabino v. Ozuna

Citation: 305 Neb. 176

Opinion Date: March 6, 2020

Judge: Michael G. Heavican

Areas of Law: Family Law

The Supreme Court reversed the decision of the district court declining to make specific findings of fact for purposes of special immigrant juvenile (SIJ) status under federal law after rendering judgment dissolving the marriage of Mother and Father and awarding full custody of the parties' child to Mother, holding that the court had the authority to make these findings. After the court made an oral pronouncement granting the parties' divorce and awarding custody to Mother, it signed a decree that included findings sought regarding abuse, neglect, or abandonment and best interests of the child. The court, however, struck through those findings and therefore did not make the findings requested by Mother, concluding that it lacked the authority to make the requested findings. The Supreme Court reversed, holding that the district court erred in not making the findings of fact requested by Mother because the court had the jurisdiction to make an initial child custody determination and to make the requested findings.