Hinshaw & Culbertson LLP is pleased to announce it has bolstered its Commercial Litigation and Commercial Transactions practice groups with the addition of Jason E. Rosen as a partner in the firm’s Miami office.

Peter J. Kaiser has joined Hinshaw as a Business & Commercial Transactions Practice Group partner in the Minneapolis office.

The U.S. law firm of Hinshaw & Culbertson LLP is pleased to announce that Andrew May, a seasoned securities and commodities attorney, has joined the firm as a partner in the Chicago office. Formerly a principal at Chuhak & Tecson, May has two decades of futures and securities law experience and provides a powerful combination of industry-specific knowledge and personal investment in his clients' success.

Hinshaw attorneys Tim Sullivan, Kyle Fonjemie, and Anthony Zeoli contributed chapters in the new 2024 Edition of the Illinois Institute for Continuing Legal Education (IICLE) handbook “Business Law: Miscellaneous Operating Issues, 2024 Edition.” Founded in 1961, the IICLE publishes a comprehensive set of handbooks designed by and for Illinois attorneys.

Hinshaw's Tim Sullivan and Mike Morehead authored an article titled "Federal Reserve Revises its Small Bank Holding Company Policy Statement." It was published by the Community Bankers Association of Illinois in the November issue of its Banknotes magazine.

The implementation date for FINRA’s new, more strict expungement rules has been set for October 16, 2023. The new rules make it much harder for registered representatives to expunge negative customer-related complaints, arbitrations, and litigation. Therefore, to be grandfathered into the more friendly, existing rules, arbitrations must be filed on or before October 15, 2023, approximately forty (40) days from now. For a complete breakdown of the new rules, see the Hinshaw Alert titled "SEC Approves FINRA Rule Changes That Make Expungement of Customer Complaints More Difficult," authored by partner Andrew May.

Recently, the Securities and Exchange Commission (SEC) approved the Financial Industry Regulatory Authority's (FINRA) latest attempt to make expungement of customer disputes harder. The latest changes will make successful expungement more difficult, but FINRA has not yet announced when the new expungement rules will go into effect.

The Financial Industry National Regulatory Authority (FINRA) announced its 2021 report on FINRA's examination and risk monitoring program on February 1, 2021. According to FINRA, the report combines and replaces two of their previously published annual reports: the report on examination findings and observations and the risk monitoring and examination program priorities letter. Below, we highlight what you need to know from this year's report.

On November 9, 2010, the Federal Deposit Insurance Corporation (FDIC) (as mandated by Section 343 of the Dodd-Frank Wall Street Reform and Consumer Protection Act – the “Dodd-Frank Act”) adopted rules providing for unlimited deposit insurance for noninterest-bearing transaction accounts from January 1, 2010, through December 31, 2012. These rules are effective December 31, 2010. This coverage is in addition to the $250,000 coverage available to depositors under the FDIC’s general deposit insurance rules. The term “noninterest-bearing transaction account” includes traditional checking accounts or demand deposit accounts on which no interest is paid. It does not include such accounts if they earn interest; nor does it include NOW accounts, money-market deposit accounts (MMDAs), and Interest on Lawyers Trust Accounts (IOLTAs).In addition, the rules impose three notice and disclosure requirements on insured depository institutions (IDIs). Under the rules, IDIs: