Securities Law | Expert Legal Commentary
November 16, 2009
Florida Takes the Lead in Boosting State Securities Fraud Enforcement Rights
Florida Investor Protection Act of 2009
By
Josh Lawler and Joel B. Ginsberg of Zuber & Taillieu LLP
When Florida’s governor signed into law that state’s new Investor Protection Act, effective July 1, 2009, Florida took a new lead among states in enacting enhanced state rights to pursue, enforce, and regulate securities fraud within their geographic boundaries. While states have played a significant role in investor protection over the last 100 years, state regulators have complained that the federal government has slowly taken over and preempted states’ rights in the arena of securities regulation since about 1996. In the wake of the current market crisis, marked by securities fraud and highlighted by the Madoff Ponzi scheme, the preemption debate has never been hotter.
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About the Authors
Josh Lawler is a Partner of Zuber & Taillieu LLP, focusing on corporate law and securities and finance law.
Joel B. Ginsberg is an Associate of Zuber & Taillieu LLP, focusing on corporate law, and securities and finance law.
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