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.
