The Corporate Practice Group provides:
Our Practice includes the following:
Our corporate and broker-dealer group has been retained by Sandlapper Financial, a broker-dealer and investment advisor firm located in South Carolina, to represent it in the acquisition of a similar firm, also located in South Carolina. The firm to be acquired has over $250 million in assets under management. We are negotiating the acquisition terms, including cash and earn out provisions and assisting our client with regulatory filings with the SEC and FINRA. FINRA is the self regulatory authority for the broker-dealer industry. We have also assisted our client with legal due diligence on the selling firm. The selling firm is represented by the Atlanta office of Sutherland Asbill & Brennan LLP. We will continue to represent the combined firms. We are also assisting our client with investment banking transactions, including a public offering for one of their clients.
Richard Cahan and Brian Daughney assisted a client in creating a real estate investment fund in Naples Florida. The client was a special purpose vehicle created to raise funds in a private placement offering under Regulation D of the Securities and Exchange Commission rules, with the intended proceeds to be used to invest in real estate. Investors recently received a 200% return on their investment and the client is terminating the fund. Mr. Cahan and Mr. Daughney created an asset protection corporate structure of tiered limited liability companies in conjunction with an offshore asset protect trust in connection with the transaction.
Our team obtained a highly favorable resolution of a FINRA (Financial Industry Regulatory Authority) investigation into trade practices of our client, a leading financial service firm. FINRA had delivered a “Wells Notice” giving it one opportunity to make a submission why it should not be charged with violation of applicable FINRA rules and subject to substantial fines and other disciplinary action. FINRA was alleging significant trade reporting violations. Attorneys Robert Rabinowitz, Brian Daughney and Steven Glauberman working with the client prepared the submission to FINRA.
FINRA concluded not to pursue further proceedings against the client and instead issued a “minor rule violation” letter for resolution of the charges under consideration by FINRA. The fine imposed was limited to $2,500, substantially below those fines imposed in similar situations by FINRA’s Department of Market Regulation. Our client’s Chief Compliance Officer lauded the result and commented to the team working on this matter, “This is a very favorable outcome”.