Home Page


Immigration Daily

Archives

Processing times

Immigration forms

Discussion board

Resources

Blogs

Twitter feed

Immigrant Nation

Attorney2Attorney

CLE Workshops

Immigration books

Advertise on ILW

VIP Network

EB-5

移民日报

About ILW.COM

Connect to us

Make us Homepage

Questions/Comments


SUBSCRIBE





The leading
immigration law
publisher - over
50000 pages of
free information!
Copyright
© 1995-
ILW.COM,
American
Immigration LLC.

  • July 03 - EB5 Is A Security

    Comment: EB5 Is A Security

    In SEC vs. Hui Feng and Law Offices of Feng & Associates PC, the US District Court for the Central District of California decided several matters of particular importance in EB5 cases, and broadly, to the immigration bar also. We summarize some of the key findings of the court, and also set forth what it means to immigration attorneys other than those who practice EB5.

    The court said that EB5 investments are securities “even where ... made primarily for other reasons in addition to profit” (p. 9); and further said that “evidence demonstrating [investors] were also motivated to make EB5 investments to obtain permanent residency in the [US] does not preclude a determination that the EB5 investments involved an expectation of profits and are therefore securities” (p. 10); and held that “although it is undisputed EB5 investors are also motivated to make investments to obtain permanent residency in the [US], the EB5 regulations require, and the terms of the EB5 investments demonstrate capital contributions were made by [investors] for the purpose of generating a return. Accordingly, the Court finds the EB5 investments are investment contracts and therefore securities governed by federal securities laws and regulations” (p. 11). The court also found “Defendants were brokers subject to registration requirements under Section 15(a) of the [Investment Advisers Act of 1940]” (p. 15). The court found that “Defendants violated Sections 17(a) and 10b-5 based on a scheme to defraud clients and regional centers”. See the court’s opinion and order below.

    EB5 investments are securities – and bar members should not partake of contingent compensation for their placement (apart from legal fees) either directly or indirectly, unless they have securities licenses from FINRA. Bar associations should also be careful about ensuring that contingent compensation improperly received by their members for placing securities does not compromise the associations in as much as these members may be involved in making representations on behalf of the associations involved. The facts on the matters are such that these two admonitions have, for the last several years, been followed more in the breach than in observance.

    Article: Musings on Standing for Employment Based Petition Beneficiaries in AC21 Portability Cases By Joseph P. Whalen

    Blogging: Supreme Court will not consider evidence of religious discrimination in its travel ban decision By Nolan Rappaport

    Blogging: Trump Faces Lawsuits From Both Sides of Immigration Divide: Will His Agenda End, Not With a Ban But a Fizzle? By Roger Algase

    Blogging: Five Reasons Why the Supreme Court's Decision in Kleindienst v. Mandel Should Not Be Followed as a Precedent in the Muslim Ban Lawsuit By Roger Algase

    News: USCIS Performance Data on DACA Applications for FY2012 through FY2017

    News: DOS FAQs on Executive Order 13780

    Focus: Hot Off The Presses: The EB-5 Book 2016-17 Edition; Editors: Matt Gordon and Sarah A. Schroeder Shipping Now!

    • Specific focus on Enforcement and Compliance.
    • 8 Brand New articles and 3 articles updated from previous edition to cover cutting-edge current developments.
    • Articles by Shae Armstrong, Jeanne Calderon, Michael T. Clark, Laura Danielson, Michael Dunn, L. Batya Schwartz Ehrens, Gary Friedland, Robert P. Gaffney, Adam Gale, Steve Ganis, Sherman Golden, Douglas Hauer, Jennifer Hermansky (Jen), Parisa K. Karaahmet, Mark Katzoff, Lily Li, Brandon Meyer, John Neill, Angelo A. Paparelli, Chun Yun ("Elizabeth") Peng, John Roth, Paul Ruby, Reid Thomas, Robert S. Winner, and Ben Zou.

    Buy Now!

    Online: http://www.ilw.com/books/TheEB5Book.shtm
    or Fax: http://www.ilw.com/books/theeb5book.pdf

    Headline: On citizenship, the Constitution reigns supreme Click here
    Headline: How US Lawmakers Get Involved in Immigration Cases Click here
    Headline: Trump Immigration Ban Meets Law of Unintended Consequences Click here
    Headline: Trump Administration Targets Parents in New Immigration Crackdown Click here
    Headline: Shaw: Greens hadn't thought through immigration policy announcement Click here

    Help Wanted: Junior Associate Attorney
    Melville, NY – Small growing law firm (20 years) in Melville, NY seeks to hire a full-time Junior Associate Attorney. We are considering applications from attorneys recently admitted to bar or with less than one year experience. Please submit a cover letter, resume, and writing sample. Only resumes emailed to admin@lawpg.com will be considered. Do not contact the firm directly. Duties: Compile and file routine and complex immigration applications and petitions under senior attorney supervision (H-1B, L-1, O, PERM, family-based processes, etc.), Compose letters to clients, Draft legal memoranda and articles, Support clients in immigration program management and compliance, Attend client interviews, participate in and conduct meetings with clients, Other relevant duties as may be assigned The ideal Associate will have the following: JD required, Member of State Bar Association (NY or NJ preferred), Some business immigration experience preferred, Spanish language fluency required, Fast-learner, strong analytical and problem-solving skills, excellent written and verbal communication skills, and demonstrated attention to detail, Must be able to multi-task in a fast-paced environment with competing demands when required, Must be comfortable working in a small firm environment, Must be residing within driving distance of Melville, NY. Please send resume to admin@lawpg.com. Only resumes emailed to admin@lawpg.com will be considered. Do not contact the firm directly.

    Help Wanted: Immigration Attorney
    Florida - A Florida based Regional Center having done several EB5 projects is seeking to team up with an experienced Immigration Attorney for I-526,I-829, I-924, I-924A filings. The Immigration Attorney must have filed successful 526 and 829 cases, should have prompt availability and be ready to travel internationally at a short notice. Boutique law firms and individuals working with larger firms willing to branch out on their own are ok. Interested attorneys please write to: flrc2017@outlook.com.

    Help Wanted: Immigration Attorney
    Miami, FL – We are seeking an immigration attorney (Bilingual) with minimum 4 years' experience in Immigration & Deportation. Essential duties include: Attending court hearings; Handling client intake interviews; Traveling within the U.S. and abroad; Legal research, attending, preparing and filing appeals at USCIS and EOIR; Completing applications with USCIS; Answering client related phone calls, keep notes, update calendar for court, prepare briefs and appeals and all other daily activities within an Immigration Law Firm; Experience with Employment Based Visas a PLUS! Minimum work hours are Monday-Friday from 9:00 a.m.-5:30 p.m. and/or early court hearings, occasional weekends when necessary. Paid Vacations, Legal Holidays. Salary depending on work experience. Please send resume to officemanager@gelfmanassociates.com.

    Letters of the Week

    ComingsNGoings: Immigration Reading
    International Marriages and Marital Citizenship: Southeast Asian Women on the Move (Studies in Migration and Diaspora) by Asuncion Fresnoza-Flot and Gwénola Ricordeau - Routledge, 224 pages ISBN: 978-1138214286, $149.95 https://www.amazon.com/gp/product/1138214280


    An Important disclaimer! The information provided on this page is not legal advice. Transmission of this information is not intended to create, and receipt by you does not constitute, an attorney-client relationship. Readers must not act upon any information without first seeking advice from a qualified attorney. Copyright 1995-2017 American Immigration LLC, ILW.COM. Send correspondence and articles to editor@ilw.com. Letters and articles may be edited and may be published and otherwise used in any medium. The views expressed in letters and articles do not necessarily represent the views of ILW.COM.
    Publisher: Sam Udani ISSN: 1930-062X
    Advisory Board: Jason Dzubow, Rami Fakhoury, Matthew Kolken, Chris Musillo, Lory Rosenberg, Greg Siskind, Joel Stewart, Margaret Wong
Put Free Immigration Law Headlines On Your Website

Immigration Daily: the news source for legal professionals. Free! Join 35000+ readers Enter your email address here: