Washington – Sutherland Asbill & Brennan LLP announces that partner Brian L. Rubin and associate Christian J. Cannon have won the 2006 Burton Award for Legal Achievement for their article, entitled "The House That the Regulators Built: An Analysis of Whether Respondents Should Litigate Against NASD," published in BNA's Securities Regulation & Litigation Report last May.
The Burton Award is a national program run in association with the Library of Congress and dedicated to refining and enriching legal writing by lawyers and law school students. Now in its seventh year, the competition is open to the top 1,000 law firms and only 30 entries were named award winners.
"Brian and Chris' article is noteworthy for its scope and insights, because it examined all of the disciplinary proceedings brought by NASD from 2000 through 2004 (215 trial decisions and 75 appeals) in analyzing whether it is worthwhile to litigate against NASD," said Mark D. Wasserman, Sutherland's Managing Partner. "Yet, it also boiled the cases down to a few surprising conclusions and conveyed them in a simple, straightforward and entertaining way, which is the essence of what this award honors."
Mr. Rubin (a former Deputy Chief Counsel with NASD's Enforcement Department) and Mr. Cannon (a former NASD registered representative) reviewed five years of disciplinary proceedings and found that when fraud was alleged, for example, respondents won more than twice as often than when fraud was not an issue. In addition, respondents who were represented by counsel were successful in getting lower monetary sanctions 60% of the time. The article and its findings were cited in several other publications including Ignites.com, BD Week, Institutional Investor Daily, Registered Rep, On Wall Street, Mutual Fund Daily, Chicago Lawyer and Investment News.
BNA's Securities Regulation & Litigation Report has published an updated analysis by Mr. Rubin and Mr. Cannon, which reviews 2005 NASD disciplinary proceedings and compares those results with prior years. Please click here to read the full article.
Mr. Rubin and Mr. Cannon are part of Sutherland's securities regulatory, enforcement and white collar practice group, which is one of the nation's top practices in this field. Its attorneys include former senior attorneys of the U.S. Securities and Exchange Commission, NASD, the Department of Justice and financial service providers. The Sutherland team provides a full range of services, from advice and support during compliance and regulatory examinations, to internal investigations, to defense and guidance during civil and/or criminal investigations, and to vigorous litigation in self-regulatory, administrative, civil, and criminal enforcement proceedings, trial, and, if necessary, appeals.
SUTHERLAND ASBILL & BRENNAN LLP
Sutherland Asbill & Brennan LLP is a national law firm known for solving challenging business problems and resolving unique legal issues for many of the world's largest companies. Founded in 1924, the firm has grown to more than 425 lawyers with offices in Atlanta, Austin, Houston, New York, Tallahassee and Washington. For further information about the firm, please visit www.sutherland.com.