Alex Sabo, a Principal in the firm’s Miami, Florida office, will serve as Chairperson of the Legislative Committee of the Florida Securities Dealers Association (FSDA) for 2021. The FSDA is the nation’s oldest securities association, dating back to 1933. Through its Legislative Committee, the FSDA monitors regulatory, legislative and judicial developments, communicates with regulators and legislators regarding those developments and other issues of importance to its membership, and proposes and advocates for changes to regulations and legislations.
Bressler’s affiliation with FDSA dates back to 2004 when Mr. Sabo and others opened Bressler’s first office in Florida. Mr. Sabo twice has served as the President of FSDA.
The FSDA was instrumental in the adoption of Section 517.34 of the Florida Statutes, which became effective on July 1, 2020. This provision, a report and hold statute, allows securities dealers and investment advisers to place a hold on a transaction in, or distribution from, the account of a specified adult, including persons who are 65 or older, if the securities firm or investment adviser reasonably believes that the transaction or distribution is the product of financial exploitation.