Brooklyn Bar Association offers CLE on legal ethics and banking for new members
After taking a brief hiatus for the summer, the Brooklyn Bar Association was back in the swing of things on Monday, Sept. 11 when immediate past president Richard Klass was on hand for a new-member CLE at the historic BBA building in Brooklyn Heights.
The gathering included a Continuing Legal Education seminar led by Paul Foxhoven and Shawn Garrick from Esquire Bank.
The session, aimed at educating new members, was graciously offered free of charge. This magnanimous gesture allowed budding legal professionals an opportunity not only to expand their knowledge but also to meet esteemed figures such as Klass himself and various committee chairs.
Anthony Vaughn Jr., the dynamic president-elect of the association, served as the moderator. After delivering preliminary remarks, Vaughn took to introducing the distinguished speakers, highlighting their achievements and contributions to the industry.
Paul Foxhoven, heading the Settlement Services Division at Esquire Bank, delved deep into the subject of deposits. His session, sparked by pertinent questions, covered a range of topics including Qualified Settlement Funds (QSF), the role of an administrator in settlements and the intricacies of FDIC insurance in the context of attorney trust accounts.
Foxhoven’s vast experience, especially his previous role as director of QSF Operations for Archer Systems, allowed him to provide invaluable insights.
The conversation on deposits flowed seamlessly into a discussion on lending, helmed by Shawn Garrick. As a senior managing director and relationship manager in the Sales and Lending Division of Esquire Bank, Garrick’s expertise in lending facilities and relationship management shone brightly.
He addressed queries about Esquire Bank’s unique approach, the challenges posed by rising interest rates and the essence of “smart money.” Before his tenure at Esquire Bank, Garrick served as a business banking area manager for JPMorgan Chase, lending an added layer of depth to his insights.
As the event progressed, a noteworthy discussion emerged around the Rules of Professional Conduct, focusing on Rule 1.15, which pertains to the fiduciary responsibilities of attorneys regarding client funds and properties, and Rule 1.17, which discusses the sale of law practices.
An engaging Q&A session concluded the event, where attendees had the chance to delve deeper into topics of interest, ensuring a conversational atmosphere throughout.
CLE, or Continuing Legal Education, refers to post-admission professional education for lawyers. Its purpose is to keep attorneys updated with recent legal developments, improve their skills and uphold ethical standards.
While the exact requirements vary by jurisdiction, many U.S. states require attorneys to complete specific CLE hours periodically to maintain their law license. In New York, attorneys are required to complete 24 credits every two years.
Attending CLE not only ensures lawyers remain current and effective in their practice but is also often necessary for license retention and professional growth.
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