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Notice Of Appeal Filed In New York Broker Registration Case

As reported previously, several retail suppliers in New York  filed an appeal of a state Supreme Court decision in June, which partially granted their request for the courts to modify the New York’s PSC implementation of a new broker licensing and compliance regime. Although the petitioners were successful in getting the courts to reverse the NY PSC decision to disallow surety bonds from being used as financial collateral for brokers and consultant applications, the petitioners seek a judicial determination “to permanently enjoin the Commission from arbitrarily and unfairly discriminating against 1099 workers and declare that both W-2 and 1099 workers who work for registered brokers or ESCOs are covered by their employers’ registrations.”