Florida Bar Addresses Rapoport Limits
Rule Amendments Proposed to Insure Out-of-State Attorneys Continued Representation in Arbitration
FLORIDA BAR ADDRESSING RAPOPORT LIMITS:
The Florida Supreme Courts decision (e.g., SAA 03-13) enjoining an out-of-state attorney from representing parties in securities arbitration has caused considerable disruption, but a resolution of the dilemma may be forming.
According to Brad D. Kaufmann, Greenberg & Traurig, West Palm Beach, FL, who spoke earlier this week at the SIAs Compliance & Legal Division Conference in Orlando, FL, some rule amendments have been articulated for consideration by the Florida Bar.
The proposals, which will need to go through a series of comment and approval stages between now and the end of 2003, call for specific procedures to be followed regarding in-state arbitration practice by out-of-state attorneys: (1) a letter or form containing information about the attorneys state of admission and disciplinary history (or lack thereof); (2) submission to the Rules of Florida Practice; (3) payment of a fee to the Bar of $250 for each representation; and (4) a limit of three representations within any 365-day period.
We have not seen the details of these proposals, but understand that they are recommendations of a commission that will be presented to and considered by a board of the Florida Bar and, when ready, will be released for public comment.
The Florida Supreme Court will be the last stop before the procedures become binding rules; until then, out-of-state attorneys will need to decide for themselves the appropriate course to follow.
Copyright 2003 Securities Arbitration Commentator, Inc. P.O. Box 112, Maplewood, NJ 07040; t: 973-761-5880 f: 973-761-1504. Materials denoted with a SAC Reference No. (e.g. SAC Ref. No. 99-01-001) are on hand at SAC and may be obtained by calling the Securities Arbitration Commentator, or by email to firstname.lastname@example.org. The Securities Arbitration Commentator is the leading publication for securities arbitration news and information, and maintains the most complete database of arbitration awards availalble anywhere. For more information regarding their services, visit their website at www.sacarbitration.com
Nothing herein is intended as legal or financial advice. The law is different in different jurisdictions, and the facts of a particular matter can change the application of the law. Please consult an attorney or your financial advisor before acting upon the information contained in this article.