January 1, 2006 Regular News New MJP rules launched January 1 New MJP rules launched January 1 Three new rules that deal with multijuristictional practice in Florida became effective January 1.They include Rule 2.061 of the Florida Rules of Judicial Administration and its counterpart, Rule 1-3.10 of the Rules Regulating The Florida Bar and Bar Rule 1-3.11. The first two deal with out-of-state lawyers who wish to appear in a Florida case pro hac vice. Rule 1-3.11 deals with out-of-state lawyers who wish to appear in a Florida arbitration proceeding. All three are the result of recent amendments to Rule 4-5.5, regarding the multijurisdictional practice of law.The pro hac vice rules require the movant to send a copy of the motion filed with the appropriate court to The Florida Bar, along with a $250 fee, according to Lori Holcomb, the Bar’s UPL counsel. The rules also require the use of a form motion. The form motion is available on the Bar’s Web site at floridabar.org. On the right hand side of the home page, click on “Member Tools,” then “Applications.” and look for the link: “see the forms needed to comply” for the form motion.Holcomb said Rule 1-3.11 requires an out-of-state lawyer wishing to appear in an arbitration proceeding in Florida to submit a verified statement and $250 fee to The Florida Bar. A form verified statement is available on the Bar’s Web site at the “Member Tools” application. There are exceptions to submitting the verified statement. Rules 1-3.11 and 4-5.5 should be consulted for the exceptions. Those rules are also available on the Web site.To better understand the rules, here are some common questions and answers. Q — When do the rules take effect? A — All rules except Rule 2.061 of the Florida Rules of Judicial Administration and Bar Rules 1-3.10 and 1-3.11 took effect on September 14, 2005. Rule 2.061 of the Florida Rules of Judicial Administration and Bar Rules 1-3.10 and 1-3.11 took effect January 1. Q – Rule 2.061 of the Florida Rules of Judicial Administration and Bar Rule 1-3.10 allow an attorney to be granted permission to appear via a Motion to Appear Pro Hac Vice three times in a 365 day period. If attorney X had a motion granted in 2005, would that case count as one of the three cases? A – No, it would not. As the rules do not take effect until January 1, counting does not begin until that date. Q – What if attorney X has a motion granted in 1999 but the case is still pending? Would that count as one of the three? A – No, it would not. Q – What if attorney X had a motion granted in 2003, 2004, and 2005? All of those cases are still pending. Would attorney X be able to file a Motion to Appear Pro Hac Vice in 2006? A – Yes, attorney X would be able to file the motion as the three prior motions were filed before January 1, 2006. Q – What if attorney X filed a motion on January 1, 2006, and the motion was denied? Would that count as one of the three? A – No, it would not. Only motions that are granted count for purposes of the rules. Q – Suppose a case was filed on December 29, 2005, and on January 4, the client retains an out-of-state lawyer to act as co-counsel in the case. Would the motion filed by the out-of-state lawyer count as one of the three? A – Yes, the case would count as one of the three. As the motion was filed after January 1 the rules would apply, so the attorney would have to send a copy of the motion and the fee to The Florida Bar. Q – What if the case was filed on December 29, 2005, and the attorney filed the motion on December 29, 2005, but the judge hasn’t ruled on it yet? Would the attorney have to send a copy to the Bar and would it count as one of the three? A – No, the attorney would not have to send a copy and it would not count as the motion was filed before January 1, 2006. Q – What if a case and motion was filed on January 3 and a hearing was held in that case on February 1, March 3, and April 21? Would the hearings count as part of the three? A – No, what is counted are the motions that are granted, not the number of times the attorney is in court on that case. Q – Do cases filed in federal court count? A – No. The rules only apply to cases filed in Florida state courts. Q – Rule 1-3.11 is similar to the pro hac vice rules but applies to certain arbitration proceedings. Would the answers to the above questions about the number of appearances be the same? A – Yes, the answers would be the same. Q – Let’s say the arbitration was filed in New York but was sent to Florida for the hearings, etc. Would rule 1-3.11 apply? A – Yes, it would apply as the arbitration proceeding is taking place in Florida. Q – What if a case has not been filed yet? May an out-of-state attorney engage in presuit negotiations on a case that would be filed in Florida? A – Yes, as long as the services are in or reasonably related to a pending or potential proceeding before a tribunal in this or another jurisdiction and the lawyer or a person the lawyer is assisting is authorized by law or order to appear in such proceeding or reasonably expects to be so authorized. Q – Do presuit negotiations require the filing of a Motion to Appear and a fee to The Florida Bar? A – No, the motion and fee is required only if the attorney wishes to make an appearance in court. Q – I have a mediation scheduled for February 2, and an out-of-state attorney has said that he is going to be representing the opposing party in the mediation. Is this allowed? A – Yes, as long as the services are performed for a client who resides in or has an office in the lawyer’s home state or the services arise out of or are reasonably related to the lawyer’s practice in a jurisdiction in which the lawyer is admitted to practice. Q – If an attorney comes to Florida and engages in an authorized activity, can the attorney be subject to discipline? A – Yes, if the conduct relates to the authorized activity. Rule 3-4.1 states that “[e]very member of The Florida Bar and every attorney of another state or foreign country who provides or offers to provide any legal services in this state is within the jurisdiction and subject to the disciplinary authority of this court and its agencies under this rule and is charged with notice and held to know the provisions of this rule and the standards of ethical and professional conduct prescribed by this court. Jurisdiction over an attorney of another state who is not a member of The Florida Bar shall be limited to conduct as an attorney in relation to the business for which the attorney was permitted to practice in this state and the privilege in the future to practice law in the state of Florida.” Q – Where do I send the $250 pro hac vice fee? A– Send the check to The Florida Bar, PHV Admission, 651 E. Jefferson St. Tallahassee 32399-2333. Questions regarding the rules should be directed to the Unlicensed Practice of Law Department of The Florida Bar, 651 East Jefferson Street, Tallahassee 32399-2300, (850) 561-5840.
Over the years, financial institutions have gained confidence in the modeling software they rely on to guide asset-liability management, but there is still significant room for improvement. Validations of credit union ALM models from 2012 through 2015 indicate that 52 percent are still ranked as average and 24 percent of models are ranked below average.Here are 10 areas that we have encountered in our work with financial institutions where modeling can be improved:1. Data inputs/current contractual positionThe precision of an interest-rate risk simulation model depends on the quality of the input data and the category designs that capture the data. The adage “garbage in, garbage out” applies here. Financial analysts should regularly review cash flow and other model inputs. In addition, regulatory guidance is clear about the critical importance of rigorous data quality assessment and documentation. Through regular audits, internal and external data inputs must be continually verified to be accurate, complete and consistent with the model purpose and design.Balancing the model to the general ledger is only the first step of the review process. It is also necessary to review maturity and repricing schedules and rates for accuracy. For example, ask: Do variable or adjustable rate balances reprice appropriately? continue reading » 11SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr