Latest Case: United States v. Almonte (Criminal Law)

Which Laws Apply to Broker-Dealers? Federal Laws? State Laws? Both? General Principles Leading to an Answer

TAMAR FRANKEL

BU Law emerita professor Tamar Frankel explains the law of preemption as it pertains to broker-dealers and their investor clients. She predicts, among other things, that either the clients will demand that broker-dealers adhere to a fiduciary duty, or else that states will impose that duty on them.

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United States v. Almonte

Docket: 18-3769

Opinion Date: March 5, 2020

Judge: Per Curiam

Areas of Law: Criminal Law

The Second Circuit affirmed defendant's conviction and sentence on five counts related to sex trafficiking. The court held that the fact that there has been no suggestion that defendant's false testimony warrants a sentencing guidelines adjustment does not impede the court's consideration of that false testimony in determining an appropriate sentence in accordance with 18 U.S.C. 3553(a). The court also held that defendant's sentence was substantively reasonable and the evidence was sufficient to support her conviction on one count.