Indiana Secretary of State Recognizes Taft Attorney, Philip L. McCool
INDIANAPOLIS, IN (July 24, 2008) – Indiana Secretary of State Todd Rokita recognized Philip L. McCool, partner at Taft Stettinius & Hollister LLP, for his service on the Indiana Uniform Securities Act Advisory Committee, which drafted Indiana’s new Uniform Securities Act. Mr. Rokita visited Taft’s downtown Indianapolis office on July 23rd to formally recognize Mr. McCool for his contribution. The Act went into effect on July 1, 2008.
Mr. McCool was part of a team selected to revamp the Indiana Securities Act, which had not been updated since 1961. In recognition of his contribution, Mr. Rokita presented Mr. McCool with the highest honor available through the Secretary of State’s office—Honorary Secretary of State.
The Indiana Uniform Securities Act was passed during the 2007 General Assembly Session. “Phil played an important role on the advisory committee with his experience as a former Chief Deputy Securities Commissioner,” said Rokita. “It was a tremendous accomplishment to pass an act of this magnitude in just one session of the general assembly.”
"Phil has long been the dean of Indiana Securities Law,” said James Strain, partner and co-chair of the business group at Taft Stettinius & Hollister LLP. “It is fitting that he is recognized for his efforts with these revisions. Clarity in our statutes helps not only the citizens of Indiana, but also our clients because the guidance is then clear and the enforcement uniform and sensible. It takes someone with Phil's experience, first as a regulator, and then for the past 20 plus years as a private practitioner, to understand the importance of both the protection and guidance aspects of our state securities laws."
Mr. McCool is a partner in the firm’s business and finance group and focuses his practice on federal and state securities law, mergers and acquisitions and general corporate law. From 1980 to 1988, Mr. McCool was Chief Deputy Securities Commissioner for the State of Indiana. He was a member of the Indiana State Bar Association committee that drafted the Indiana Business Flexibility Act, the act creating limited liability companies. He earned his undergraduate degree from the University of Michigan in 1975 and his juris doctorate from Indiana University School of Law—Bloomington in 1978.
Securities regulation exists to prevent fraudulent sales of securities to investors. The new Indiana Uniform Securities Act was passed by Indiana legislature in 2007. Indiana is one of fifteen states to enact a version of the 2002 Uniform Securities Act. The principal purpose of the 2002 Uniform Securities Act was to reconcile, and achieve better coordination of, federal and state securities regulation. Another objective was bringing state securities law up to date with the vast changes in securities markets over recent years.
About Taft
Taft Stettinius & Hollister LLP is a full-service law firm with offices in Cincinnati, Columbus, Cleveland, and Dayton, Ohio; Indianapolis, Indiana; Northern Kentucky; Phoenix, Arizona; and Beijing, China. With more than 320 attorneys, the firm provides a broad range of legal services to businesses and individuals, including litigation, corporate and business law, securities and municipal financing, tax and estate planning, labor and employment law, real estate and environmental, health care, intellectual property and unfair competition and antitrust law.
July 24, 2008
INDIANAPOLIS, IN (July 24, 2008) – Indiana Secretary of State Todd Rokita recognized Philip L. McCool, partner at Taft Stettinius & Hollister LLP, for his service on the Indiana Uniform Securities Act Advisory Committee, which drafted Indiana’s new Uniform Securities Act. Mr. Rokita visited Taft’s downtown Indianapolis office on July 23rd to formally recognize Mr. McCool for his contribution. The Act went into effect on July 1, 2008.
Mr. McCool was part of a team selected to revamp the Indiana Securities Act, which had not been updated since 1961. In recognition of his contribution, Mr. Rokita presented Mr. McCool with the highest honor available through the Secretary of State’s office—Honorary Secretary of State.
The Indiana Uniform Securities Act was passed during the 2007 General Assembly Session. “Phil played an important role on the advisory committee with his experience as a former Chief Deputy Securities Commissioner,” said Rokita. “It was a tremendous accomplishment to pass an act of this magnitude in just one session of the general assembly.”
"Phil has long been the dean of Indiana Securities Law,” said James Strain, partner and co-chair of the business group at Taft Stettinius & Hollister LLP. “It is fitting that he is recognized for his efforts with these revisions. Clarity in our statutes helps not only the citizens of Indiana, but also our clients because the guidance is then clear and the enforcement uniform and sensible. It takes someone with Phil's experience, first as a regulator, and then for the past 20 plus years as a private practitioner, to understand the importance of both the protection and guidance aspects of our state securities laws."
Mr. McCool is a partner in the firm’s business and finance group and focuses his practice on federal and state securities law, mergers and acquisitions and general corporate law. From 1980 to 1988, Mr. McCool was Chief Deputy Securities Commissioner for the State of Indiana. He was a member of the Indiana State Bar Association committee that drafted the Indiana Business Flexibility Act, the act creating limited liability companies. He earned his undergraduate degree from the University of Michigan in 1975 and his juris doctorate from Indiana University School of Law—Bloomington in 1978.
Securities regulation exists to prevent fraudulent sales of securities to investors. The new Indiana Uniform Securities Act was passed by Indiana legislature in 2007. Indiana is one of fifteen states to enact a version of the 2002 Uniform Securities Act. The principal purpose of the 2002 Uniform Securities Act was to reconcile, and achieve better coordination of, federal and state securities regulation. Another objective was bringing state securities law up to date with the vast changes in securities markets over recent years.
About Taft
Taft Stettinius & Hollister LLP is a full-service law firm with offices in Cincinnati, Columbus, Cleveland, and Dayton, Ohio; Indianapolis, Indiana; Northern Kentucky; Phoenix, Arizona; and Beijing, China. With more than 320 attorneys, the firm provides a broad range of legal services to businesses and individuals, including litigation, corporate and business law, securities and municipal financing, tax and estate planning, labor and employment law, real estate and environmental, health care, intellectual property and unfair competition and antitrust law.
