You still remember the discussion of needs versus wants. In fact, that financial discussion set you in the direction of a career in finance that now has you sitting through discussions and consultations about intellectual property law, securities class actions, and corporate compliance programs. And while these terms may have been foreign words to you a decade ago, you are now in meetings every day that talk about the best financial investment options for both your current and potential clients.
And while you work with your specific clients and share your insight on needs versus wants, the topic that has been a guiding principle in your life, you also understand the importance of the legal staff at work to make sure that you are fairly and accurately advising your clients. The work of the legal team, in fact, strives to keep you current on the latest securities class actions so that you never lose a client because they have found themselves in need of legal advice because of poor financial decisions.
The week that you, a coworker, and a supervisor were able to attend the annual incentive meeting in Orlando, where you were recognized by an industry organization that honors internationally performers for their standard of excellence in the financial services business served as a motivating factor for you to make sure that you were serving your customers efficiently and legally.
Consider some of these guidelines that the financial industry must adhere to when they are serving their clients:
- 90% of all Chapter 11 debtors have less than $10 million in assets or liabilities, less than $10 million in annual revenues, and have 50 or fewer employees.
- 40% of Americans are worried about both outdoor and indoor air quality, tropospheric ozone, carbon emissions, particulate matter, sulfur oxides, volatile organic compounds, refrigerants, radon, and methane emission.
- Back in the year In 1962, 11.5% of federal civil cases went to trial.
- Today, experts say only 1% of civil cases actually reach trial in the Federal courts. This change is partly because of the efforts of experienced securities class actions arbitrators.
- Class actions will be handled by FedArb Arbitrators or Panels in the same manner as they are handled under FRCP 23, with the exception of modifications by the involved parties. These standards include certification, settlement, and notice.