Highlighting the fact that financial services is the top contributor to the
Massachusetts Gross State Product (MassInsight)
and one of the key pillars of the state's economy, the Boston Bar Association
(BBA) today announced the creation of its new Financial Services Section.
Co-Chaired by Kevin
Handly, partner at Pierce Atwood and Cornelius
Hurley, Director of the Banking Law Program at Boston University Law School,
the Financial Services Section will address a broad array of matters of interest
to banks and other financial institutions, focusing in particular on relevant
legislative and regulatory developments.
"In a period of tremendous turmoil in the financial economy, there is
significant need for technical 'get up to speed' training for new lawyers
entering the sector, and 'stay up to date' continuing professional education for
established practitioners," said Handly. "Our Section will focus on converging
regulatory frameworks for financial services, the legislative and regulatory
schemes governing financial services in Massachusetts, and professional
educational programs aimed at maintaining high professional standards for
lawyers working in the financial services sector."
Composed of the Consumer Finance, Insurance Law and Investment Companies
& Advisers committees, the Financial Services Section will serve a broad
base of practitioners. The Section will consist of lawyers, educators, and other
professionals serving clients in the regulated financial sector, including, but
not limited to, banks, mortgage companies, investment companies and advisers,
credit unions, insurance agents, consumer finance companies, money services
businesses, securities brokers and hedge, private equity and venture capital
funds."
"The Financial Services Section will focus on maintaining, expanding and
improving the governmental, educational and business services structure required
to support a growing financial services sector in Boston," said Hurley. "We hope
to be a communication bridge and provide opportunity for cross-fertilization
between different segments of the financial services industry."
The Section expects to present on these and other
issues:
-Consumer Financial Protection Bureau
-Fiduciary
duties of broker dealers
-Executive compensation standards
-The impact of
enhanced prudential standards on local firms
-Privacy and customer
information security
-Structured financial products
-Ethical issues in the
representation of financial institutions
For more information on the Financial Services section or to get on their
mailing list, contact Sara Mackey at 617-778-1982 or smackey@bostonbar.org.