Tarlow Breed Hart & Rodgers P.c.’s “super Six”

December 31st, 2008

As part of the Massachusetts Super Lawyers segment in its November 2008 issue, Boston Magazine recognized six attorneys from Boston-based Tarlow Breed Hart & Rodgers, P.C. (TBHR) as “Rising Stars”.  Those selected include:  Perry Ganz, a partner in the firm who resides in South Natick and who was previously named Rising Star in 2007, and five of the firm’s associates, Jennifer A. Civitella Hilario, of Somerville; John D. Finnegan, of Pelham, New Hampshire, previously named in 2005, 2006 and 2007; Karen L. McKenna, of Scituate, previously named in 2007; Terrence M. Schwab, of Natick; and Emily C. Shanahan, of Wellesley.

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A Federal Firearms License For Collectors - the Curios and Relics License (C&R FFL)

December 30th, 2008

If you’re an avid gun collector whose interests lie in older firearms, 50 years or older, there is a special type of federal firearms license that may be right for you. It’s known as the Collectors of Curios and Relics Firearms License - (C&R) FFL, also known as a type 3 license. The exact definition of these firearms is listed in 27 CFR 478.11, subpart B, and typically include most old military rifles such as those from WW1, and WW2.

One very important thing to note is that this is a collector license for specific firearms and not a dealer license. As such, you’re allowed to purchase firearms, not sell them as a dealer. You are however allowed to occasionally sell these firearms in the interest of your collection. For instance, if you’re looking to upgrade a gun in your current collection, you may sell the one you have.

The main advantage of having a C&R license is that it allows you to purchase firearms directly from a dealer. You’ll be able to order

from a catalog or online, and have it delivered directly to you without having it shipped to a dealer first. The benefit of this is that by eliminating this extra step you’ll typically pay less for your firearms.

Another added bonus of a C&R license is that it’s both the easiest to obtain and cheapest of any of the FFL licenses. The fee for a C&R license is $30.00, and is good for three years.

To get your C&R license you need to fill out 2 forms; ATF F 7FR (5310.16), and ATF form 5330.20. Both of these are available online at the ATF website. Once you’ve obtained the forms you’ll need to fill out 2 copies of 7FR. The first one is sent in with your payment of $30.00 to the BATF. The second one is sent to your local Chief Law Enforcement Officer. This will probably be your town’s chief of police, or the head of your local sheriffs department. If you’re unsure which one it is, call them and ask. The second for you need to fill out, AFT form 5330.20. This is the alien compliance form which basically establishes your residency.

Since a C&R license is geared towards collectors, there is very little paperwork involved. You’re only required to keep what’s known as a Bound Book. This is just a log of purchases and sales that you make after you’ve obtained your license. There are no background checks required if you sell a firearm, and you don’t have to fill out form 4473.

Finally, if in doubt, the ATF has a wealth of information listed on their website. They list the types of firearms that are covered by a C&R license, the detailed requirements for obtaining a license, and information about inspections that you may be subject to. As you can see the C&R FFL is geared specifically towards collectors, and has been designed to be relatively easy to obtain. So if you’re looking for a license to collect older firearms and ones that are specifically listed as being curios and relics, this is the license for you.

John R. Thompson has been an avid gun collector for the past 30 years. Having experienced firsthand the bureaucracy involved in obtaining a Federal Firearms License he decided to help others out by providing as much information as possible about the licensing process. Click here for more information and tips on how to obtain your Federal Firearms License

Read more

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Tarlow Breed Hart & Rodgers P.c.’s “super Six”

December 29th, 2008

As part of the Massachusetts Super Lawyers segment in its November 2008 issue, Boston Magazine recognized six attorneys from Boston-based Tarlow Breed Hart & Rodgers, P.C. (TBHR) as “Rising Stars”.  Those selected include:  Perry Ganz, a partner in the firm who resides in South Natick and who was previously named Rising Star in 2007, and five of the firm’s associates, Jennifer A. Civitella Hilario, of Somerville; John D. Finnegan, of Pelham, New Hampshire, previously named in 2005, 2006 and 2007; Karen L. McKenna, of Scituate, previously named in 2007; Terrence M. Schwab, of Natick; and Emily C. Shanahan, of Wellesley.

Read more

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A Federal Firearms License For Collectors - the Curios and Relics License (C&R FFL)

December 28th, 2008

If you’re an avid gun collector whose interests lie in older firearms, 50 years or older, there is a special type of federal firearms license that may be right for you. It’s known as the Collectors of Curios and Relics Firearms License - (C&R) FFL, also known as a type 3 license. The exact definition of these firearms is listed in 27 CFR 478.11, subpart B, and typically include most old military rifles such as those from WW1, and WW2.

One very important thing to note is that this is a collector license for specific firearms and not a dealer license. As such, you’re allowed to purchase firearms, not sell them as a dealer. You are however allowed to occasionally sell these firearms in the interest of your collection. For instance, if you’re looking to upgrade a gun in your current collection, you may sell the one you have.

The main advantage of having a C&R license is that it allows you to purchase firearms directly from a dealer. You’ll be able to order

from a catalog or online, and have it delivered directly to you without having it shipped to a dealer first. The benefit of this is that by eliminating this extra step you’ll typically pay less for your firearms.

Another added bonus of a C&R license is that it’s both the easiest to obtain and cheapest of any of the FFL licenses. The fee for a C&R license is $30.00, and is good for three years.

To get your C&R license you need to fill out 2 forms; ATF F 7FR (5310.16), and ATF form 5330.20. Both of these are available online at the ATF website. Once you’ve obtained the forms you’ll need to fill out 2 copies of 7FR. The first one is sent in with your payment of $30.00 to the BATF. The second one is sent to your local Chief Law Enforcement Officer. This will probably be your town’s chief of police, or the head of your local sheriffs department. If you’re unsure which one it is, call them and ask. The second for you need to fill out, AFT form 5330.20. This is the alien compliance form which basically establishes your residency.

Since a C&R license is geared towards collectors, there is very little paperwork involved. You’re only required to keep what’s known as a Bound Book. This is just a log of purchases and sales that you make after you’ve obtained your license. There are no background checks required if you sell a firearm, and you don’t have to fill out form 4473.

Finally, if in doubt, the ATF has a wealth of information listed on their website. They list the types of firearms that are covered by a C&R license, the detailed requirements for obtaining a license, and information about inspections that you may be subject to. As you can see the C&R FFL is geared specifically towards collectors, and has been designed to be relatively easy to obtain. So if you’re looking for a license to collect older firearms and ones that are specifically listed as being curios and relics, this is the license for you.

John R. Thompson has been an avid gun collector for the past 30 years. Having experienced firsthand the bureaucracy involved in obtaining a Federal Firearms License he decided to help others out by providing as much information as possible about the licensing process. Click here for more information and tips on how to obtain your Federal Firearms License

Read more

Posted in Regulatory Compliance Consulting | No Comments »

Tarlow Breed Hart & Rodgers P.c.’s “super Six”

December 27th, 2008

As part of the Massachusetts Super Lawyers segment in its November 2008 issue, Boston Magazine recognized six attorneys from Boston-based Tarlow Breed Hart & Rodgers, P.C. (TBHR) as “Rising Stars”.  Those selected include:  Perry Ganz, a partner in the firm who resides in South Natick and who was previously named Rising Star in 2007, and five of the firm’s associates, Jennifer A. Civitella Hilario, of Somerville; John D. Finnegan, of Pelham, New Hampshire, previously named in 2005, 2006 and 2007; Karen L. McKenna, of Scituate, previously named in 2007; Terrence M. Schwab, of Natick; and Emily C. Shanahan, of Wellesley.

Read more

Posted in Regulatory Compliance Consulting | No Comments »

A Federal Firearms License For Collectors - the Curios and Relics License (C&R FFL)

December 26th, 2008

If you’re an avid gun collector whose interests lie in older firearms, 50 years or older, there is a special type of federal firearms license that may be right for you. It’s known as the Collectors of Curios and Relics Firearms License - (C&R) FFL, also known as a type 3 license. The exact definition of these firearms is listed in 27 CFR 478.11, subpart B, and typically include most old military rifles such as those from WW1, and WW2.

One very important thing to note is that this is a collector license for specific firearms and not a dealer license. As such, you’re allowed to purchase firearms, not sell them as a dealer. You are however allowed to occasionally sell these firearms in the interest of your collection. For instance, if you’re looking to upgrade a gun in your current collection, you may sell the one you have.

The main advantage of having a C&R license is that it allows you to purchase firearms directly from a dealer. You’ll be able to order

from a catalog or online, and have it delivered directly to you without having it shipped to a dealer first. The benefit of this is that by eliminating this extra step you’ll typically pay less for your firearms.

Another added bonus of a C&R license is that it’s both the easiest to obtain and cheapest of any of the FFL licenses. The fee for a C&R license is $30.00, and is good for three years.

To get your C&R license you need to fill out 2 forms; ATF F 7FR (5310.16), and ATF form 5330.20. Both of these are available online at the ATF website. Once you’ve obtained the forms you’ll need to fill out 2 copies of 7FR. The first one is sent in with your payment of $30.00 to the BATF. The second one is sent to your local Chief Law Enforcement Officer. This will probably be your town’s chief of police, or the head of your local sheriffs department. If you’re unsure which one it is, call them and ask. The second for you need to fill out, AFT form 5330.20. This is the alien compliance form which basically establishes your residency.

Since a C&R license is geared towards collectors, there is very little paperwork involved. You’re only required to keep what’s known as a Bound Book. This is just a log of purchases and sales that you make after you’ve obtained your license. There are no background checks required if you sell a firearm, and you don’t have to fill out form 4473.

Finally, if in doubt, the ATF has a wealth of information listed on their website. They list the types of firearms that are covered by a C&R license, the detailed requirements for obtaining a license, and information about inspections that you may be subject to. As you can see the C&R FFL is geared specifically towards collectors, and has been designed to be relatively easy to obtain. So if you’re looking for a license to collect older firearms and ones that are specifically listed as being curios and relics, this is the license for you.

John R. Thompson has been an avid gun collector for the past 30 years. Having experienced firsthand the bureaucracy involved in obtaining a Federal Firearms License he decided to help others out by providing as much information as possible about the licensing process. Click here for more information and tips on how to obtain your Federal Firearms License

Read more

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Background Checks on Firearms Buyers

December 25th, 2008

Do you really need to pass background check before you buy a gun?

People feel safe if armed. According to some estimates and publications, roughly 50% of the US households currently own guns, but how big may be percentage of those who acquired their firearms legally or without intentional use of the law loopholes allowing them avoid background check they must normally go through as gun purchasers?

Virginia law contains no provisions obliging gun sellers who aren’t licensed dealers to conduct any sort of background check on buyers acquiring guns from them at open-air gun shows, even if the same law requires that background check is performed when they buy from gun dealers who are licensed. This obvious law loophole constitutes real threat making it possible for certain felons and/or mentally ill people to creep their way towards purchasing some firearms. Assault rifle can easily (and absolutely legally?) be bought at a gun show from an unlicensed gun dealer with no questions asked. Surely, the loophole needs to be closed so that all gun buyers at gun shows would submit to background check regardless of the type of dealers they buy firearms from.

The situation in some other randomly taken states, such as California, Arizona, Texas, or New Mexico, whose primary firearms market as of the end of 2008 is estimated to exceed impressive number of approximately 10,000 active licensed gun dealers, is not different. In these four states current firearms control laws contain only provisions for background check for buyers who would buy from licensed weapons dealers, but no background check is required for firearms sold and bought between private citizens. No criminal background check is required by the law if you buy at gun shows, over the Internet, or through classifieds.

But even in the states with stricter law provisions for background checks on gun buyers, quite surprisingly the further routing of the weapon very often can’t be traced. Say, in the state of Delaware, the authorities are obligated to destroy records of approved gun purchases not later than 60 days after the successful passing of background check by someone wishing to obtain a gun. This must be done to comply with another State law prohibiting state agencies maintain databases of gun owners. But you can still perform a basic free criminal background check on person over the Internet digging criminal records available online, but this will most likely take a big amount of your time if you are not using some kind of online investigative service and trying to do it all yourself and gather all that information at your own for your background investigation.

In the USA, where private citizens across the nation own at least 200 million guns, fears that firearms held in the hands of the Americans, are hardly being controlled effectively, seem to be valid. Whatever arguments against or in the favor of the right for private ownership of guns, one thing can hardly be disputed: legislature regulating background checks on gun buyers does need improvement. As we know, the same attitude is shared by Barack Obama, who, according to CNN.com, soon after the election proposed introduction of background checks for buyers at gun shows along with calling to impose a complete ban on private ownership for several types of military-style automatic and semiautomatic rifles that could be used by criminals.
 

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A Federal Firearms License For Collectors - the Curios and Relics License (C&R FFL)

December 24th, 2008

If you’re an avid gun collector whose interests lie in older firearms, 50 years or older, there is a special type of federal firearms license that may be right for you. It’s known as the Collectors of Curios and Relics Firearms License - (C&R) FFL, also known as a type 3 license. The exact definition of these firearms is listed in 27 CFR 478.11, subpart B, and typically include most old military rifles such as those from WW1, and WW2.

One very important thing to note is that this is a collector license for specific firearms and not a dealer license. As such, you’re allowed to purchase firearms, not sell them as a dealer. You are however allowed to occasionally sell these firearms in the interest of your collection. For instance, if you’re looking to upgrade a gun in your current collection, you may sell the one you have.

The main advantage of having a C&R license is that it allows you to purchase firearms directly from a dealer. You’ll be able to order

from a catalog or online, and have it delivered directly to you without having it shipped to a dealer first. The benefit of this is that by eliminating this extra step you’ll typically pay less for your firearms.

Another added bonus of a C&R license is that it’s both the easiest to obtain and cheapest of any of the FFL licenses. The fee for a C&R license is $30.00, and is good for three years.

To get your C&R license you need to fill out 2 forms; ATF F 7FR (5310.16), and ATF form 5330.20. Both of these are available online at the ATF website. Once you’ve obtained the forms you’ll need to fill out 2 copies of 7FR. The first one is sent in with your payment of $30.00 to the BATF. The second one is sent to your local Chief Law Enforcement Officer. This will probably be your town’s chief of police, or the head of your local sheriffs department. If you’re unsure which one it is, call them and ask. The second for you need to fill out, AFT form 5330.20. This is the alien compliance form which basically establishes your residency.

Since a C&R license is geared towards collectors, there is very little paperwork involved. You’re only required to keep what’s known as a Bound Book. This is just a log of purchases and sales that you make after you’ve obtained your license. There are no background checks required if you sell a firearm, and you don’t have to fill out form 4473.

Finally, if in doubt, the ATF has a wealth of information listed on their website. They list the types of firearms that are covered by a C&R license, the detailed requirements for obtaining a license, and information about inspections that you may be subject to. As you can see the C&R FFL is geared specifically towards collectors, and has been designed to be relatively easy to obtain. So if you’re looking for a license to collect older firearms and ones that are specifically listed as being curios and relics, this is the license for you.

John R. Thompson has been an avid gun collector for the past 30 years. Having experienced firsthand the bureaucracy involved in obtaining a Federal Firearms License he decided to help others out by providing as much information as possible about the licensing process. Click here for more information and tips on how to obtain your Federal Firearms License

Read more

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What are Hedge Funds and Starting Your Own Hedge Fund

December 23rd, 2008

In the securities world, the term “Hedge Fund” does not necessarily imply any use of “hedging” as commonly understood; for example where commodity traders use options to “hedge” a commodity position. Presently, in the securities world the term “hedge fund” refers to any type of Private Investment Company operating under certain exemptions from registration under the Securities Act of 1933 and the Investment Company Act of 1940. “Hedge Funds” are often referred to as “alternate investment vehicles” and are tailored to the needs of sophisticated, high net worth private investors. A Hedge Fund is generally structured as a limited partnership having a general partner responsible for the investment activities and day-to-day operation of the fund, and limited partners who are the investors supplying capital but not participating in trading or operations of the fund. The limited partners have limited liability. That is, their exposure to loss is limited to their investment. The General Partner has unlimited liability and is liable for the activities of the partnership. The General Partners principals limit their liability through the use of a corporation or limited liability company as the General Partner. (Of course, the principals cannot limit their liability from the application of the anti fraud provisions of the Federal Securities Laws.) All of the investors’ capital is pooled and is utilized by the General Partner or Investment Manager to implement its trading or investment strategy.

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What is the Nationwide Mortgage Licensing System?

December 22nd, 2008

For those of you located in states that have already transitioned onto the Nationwide Mortgage Licensing System (NMLS), you are probably already intimately familiar with the new NMLS.  However, if you are not licensed in one of the 23 states that have transitioned or are in the process of transitioning on to the NMLS, you may be asking yourself, “What exactly is the Nationwide Mortgage Licensing System?”

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