Print Page   |   Sign In   |   Register
Community Search
Sign In

Latest News
Featured Members
Derek M. DanielsMcCumber Daniels Buntz Hartig & Puig Tampa, Florida
Ernest Koschineg IIICipriani & Werner, P.C., Blue Bell, PA

Committees: Financial Professionals

Financial Professionals

Committee Chair

Committee Co-Vice Chair




Gary R. Shendell, Esq.

Shendell & Pollock, P.A.
2700 N. Military Trail
Suite 150
Boca Raton, FL  33431

Eris Bryan Paul, Esq.

Huie Fernambucq & Stewart, LLP
2802 Hwy. 280 South
Suite 200
Birmingham, AL  35223

Overview of the Committee’s Focus:

PLDF's Financial Professionals Liability Committee encompasses accounting and investment professionals, and the E&O claims they may face in performing work for clients and others.


Professional liability claims against accountants have experienced notoriety with the failures of Enron and WorldCom, headline-making Ponzi schemes, and passage of the accounting regulations established by the federal Sarbanes-Oxley Act. Lawyers bringing accounting malpractice cases representing the accountant’s client, or lenders and investors involved in a transaction, may criticize the accountant’s:

• Tax Planning Advice

• Audit Performance

• Estate Planning Advice

• Investment Due Diligence efforts

• Internal Financial Controls Attentiveness

• Loan Due Diligence Efforts

In addition to breach of the common law standard of care allegations, claims may be asserted by lawyers for purported misrepresentation, as well as federal and state statutory and regulatory counts that may or may not apply.

The Professional Liability Defense Federation’s™ Accounting Claims Committee makes information available to members in defense of these claims that may include, for example, these subjects:

• The Role of Engagement Letters

• GAAP and GAAS Duties Updates

• Ethics (e.g., Conflict of Interest) Rules Developments

• E-Discovery Strategies

• Expert Witness Recruitment

• Advocacy Tips to Render Tax and Finance Complexity Understandable to Juries

• Verification Proof of Client Asset/Liability Representations

• Third Party Duty Arguments

Investment Professionals

Errors and omissions and breach of fiduciary duty claims involving financial planners, investment advisors, trustees, stockbrokers, wealth managers and other retirement asset counselors in FINRA proceedings and other venues are a specialty of claim handlers and defense counsel working in this field. 

Factual allegations made by claimant counsel offered in support of the claims may include criticisms of:

• Investment Suitability

• Conflicts of Interest Recognition

• Portfolio Churning or Unauthorized Trading

• Trade Request Execution

• Portfolio Allocation Oversight

• Due Diligence Adequacy

• Nondisclosure of Facts or Advice of Risks

• Tax Advice Propriety

• High Commission Product Preferences

• Diversification Management


Common law, statutory and regulatory principles that may or may not affect these claims and the current state of the defense art are the special focus of the Professional Liability Defense Federation’s™ Investment Claims Committee. Keeping members informed of federal and state securities regulatory developments affecting investment sellers and managers, e-discovery abuse controls, other investment client privacy protection controls, class action controls, intelligence involving plaintiff expert witnesses, and trial presentation approaches to simplify statistical and financial data are among the charges of this PLDF committee.

Committee members are asked to contribute to article publication, to monitor the PLDF news and respond to member inquiries for assistance, and to assist in annual meeting seminar presentation planning.

Group Feed
Martin W. Terpstra joined the group Committees: Financial Professionals.
Posted Tuesday, January 16, 2018
Matthew A. Tornincasa, Shendell & Pollock joined the group Committees: Accountant Claims.
Posted Tuesday, October 24, 2017
Erin K. Higgins joined the group Committees: Accountant Claims.
Posted Monday, October 9, 2017
Thomas D. Jensen posted a new entry in the Accountant Claims Blog blog in the group Committees: Accountant Claims.
Posted Friday, August 4, 2017
Thomas D. Jensen posted a new entry in the Accountant Claims Blog blog in the group Committees: Accountant Claims.
Posted Tuesday, June 6, 2017
 More »

Recently Updated Profiles
Derek M. Daniels, Christopher J. Carey, Alan J. Taylor, Donald C. Partridge, Matthew A. Tornincasa, Shendell & Pollock


PLDF © 2013 | 1350 AT&T Tower | 901 Marquette Avenue South | Minneapolis, MN 55402 | 612-481-4169 |