Tag Archives: Securities
Trust But Verify: The Legal Duties of Broker-Dealers in the Financial System, Part Two

In this second part series of columns about the legal duties of broker-dealers, Tamar Frankel, the Robert B. Kent Professor of Law at Boston University School of Law, considers the significance of specific words in the context of broker-dealers and their clients and discusses the legal consequences of using certain words over others. Specifically, Frankel clarifies that financial securities are not “products” and the servicers are not an “industry”; rather, brokers are agents providing services, and explains why broker-dealers should owe a fiduciary duty to their clients, who entrust their money—and sometimes their life’s savings—to them.

The Brokers’ War Against Fiduciary Duties

Boston University law professor Tamar Frankel comments on the current situation regarding federal regulation of securities brokers as having fiduciary duties to their clients. Frankel explains the arguments for and against such regulations and describes the possible consequences for retirees, young people, and the brokers themselves if the regulations are imposed.

The Rise of Robo-Advisers

Boston University law professor Tamar Frankel comments on the increased use in “robo-advisers”—machines that purport to offer investment advice and order the performance of their advice by securities trades. Frankel describes how the Securities and Exchange Commission has responded to the rise in robo-advisers and summarizes some of the legal challenges they present, particularly when used by brokers and by financial advisers.

Meet our Columnists
Vikram David Amar
Vikram David Amar

Vikram David Amar is a Distinguished Professor of Law at UC Davis School of Law and a Professor... more

Neil H. Buchanan
Neil H. Buchanan

Neil H. Buchanan, an economist and legal scholar, is a visiting professor at both Osgoode Hall... more

John Dean
John Dean

John Dean served as Counsel to the President of the United States from July 1970 to April 1973.... more

Michael C. Dorf
Michael C. Dorf

Michael C. Dorf is the Robert S. Stevens Professor of Law at Cornell University Law School. He... more

Samuel Estreicher
Samuel Estreicher

Samuel Estreicher is the Dwight D. Opperman Professor, Director, Center for Labor and Employment... more

Leslie C. Griffin
Leslie C. Griffin

Dr. Leslie C. Griffin is the William S. Boyd Professor of Law at the University of Nevada, Las... more

Joanna L. Grossman
Joanna L. Grossman

Joanna L. Grossman is the Ellen K. Solender Endowed Chair in Women and Law at SMU Dedman School... more

Marci A. Hamilton
Marci A. Hamilton

Professor Marci A. Hamilton is a Professor of Practice in Political Science at the University of... more

Joseph Margulies
Joseph Margulies

Mr. Margulies is a Professor of Government at Cornell University. He was Counsel of Record in... more

Austin Sarat
Austin Sarat

Austin Sarat is the William Nelson Cromwell Professor of Jurisprudence and Political Science at... more

Laurence H. Tribe
Laurence H. Tribe

Laurence H. Tribe is the Carl M. Loeb University Professor Emeritus at Harvard University and... more

Lesley Wexler
Lesley Wexler

Lesley Wexler is a Professor of Law at the University of Illinois College of Law. Immediately... more