Frank Taylor is a partner in the Minneapolis office. Frank has more than 40 years of experience in complex financial markets litigation, class actions, regulatory investigations, enforcement proceedings and market conduct examinations. He has defended clients in some of the financial services industry's most significant cases. To date, he has served as lead trial counsel in more than 135 class actions and has tried more than 350 matters to verdict, judgment or award in 42 states before federal, state and arbitration forums. Frank focuses his practice in counseling and representation of firms in various financial markets; complex litigation and arbitration in the financial markets; alternative dispute resolution; class action defense; regulatory investigations, enforcement proceedings and market conduct examinations; antitrust; and complex business disputes.
Frank is widely respected among major financial, investment and insurance companies throughout the United States. He has solid experience representing firms and individuals in enforcement proceedings brought by regulatory, self-regulatory and various state bodies; judicial actions brought by state attorneys general; and legislative actions. His clients include manufacturers of insurance products and annuities, registrants, fund managers, registered investment advisors, broker/dealers, futures commission merchants (FCMs), hedge funds, issuers of collateralized mortgage obligations (CMOs), and manufacturers and issuers of financial instruments.
Frank has extensive experience defending claims against manufacturers of annuities and life insurance. These matters include the successful defense, upheld on appeal, of a putative class action involving the use of shadow insurance, the successful defense of a putative class action challenging the use of home equity to purchase equity indexed variable annuities, successful defense of putative class actions involving the sales of annuities to suspect classes and the successful representation in attendant state and multi-state investigations.
Frank has handled many complex financial services litigations. These include: class actions involving shadow insurance, use of home equity proceeds to purchase equity indexed annuities, sales of annuities and insurance contracts to suspect classes, class actions defending registrants or underwriters in price drop, cooked book and misrepresentation of transactions, cases of first impression in arbitrability of disputes, short swing profit disputes under Section 16, breach of contract in purchasing company shares, hedge fund and direct investment issues, sales by unregistered individuals, suitability issues related to the sale of insurance products, breakdown or lack of compliance controls within a firm, theft by officers, insider trading, front-running, Ponzi schemes, and ERISA.
Consequently, he has been influential in a number of "firsts" in this area, including assisting in the creation of the first derivatives program and the first investment advisory program offered by a Wall Street firm. He later successfully defended both firms in the first class actions and enforcement proceedings related to these programs. Frank was also the lead in the first roll-up of limited partnership interests into a master limited partnership, and the first registration of the conversion of limited partnership interests into publicly traded common stock.
Frank is regularly called upon to advise companies with respect to insider trading matters, insider-trading policies and the disposition of surplus funds held as paid-in capital.