Partner
Norton Rose Fulbright US LLP
Steven Lofchie is a Partner based in New York. He advises financial institutions and corporate clients on the securities laws and the Commodity Exchange Act, with particular focus on the regulation of broker-dealers, swap dealers, investment funds and other market intermediaries. Steven's transactional practice focuses on securities credit and derivative transactions.
Recent Articles & Comments
See also yesterday's story: .
One question that needs to be answered is whether it is appropriate for the government to step in and establish prices, as opposed to allowing them to be set by market forces. Or is it the case that market forces can not work here because consumers are the injured third party in the fee dispute and they are not well positioned to enforce their preferences; e.g, by moving their accounts to another bank which charges lower fees? If the government does establish a fee schedule, what is the…
Interesting thing about this matter is that the broker's misconduct had nothing to do with securities.
The respective statements of the Texas and New Jersey State Securities Commissions mirror, to a somewhat remarkable degree, the contrasting approaches taken by the Trump Administration and the Biden Administration to the uses of new technologies, such as AI. (See, e.g., .") One approach is about "eliminating any possible risks, while preserving the status quo," while the other is about getting better.
Although the NJ Commission statement implies that the use of data…