This commentary is general information, not legal advice. Rules and their interpretations change; check the current rules or consult counsel before acting on anything here. FINRA announced on November 5, 2026, that it had accepted a Letter of Acceptance, Waiver, and Consent (AWC No. 2021073404901) with Webull Financial LLC (CRD […]
Author: Mark J. Astarita
FINRA Censures Apex Clearing and Fines Firm $250,000 Over Margin Supervision
By Mark J. Astarita, Esq. This commentary is general information, not legal advice. Rules and their interpretations change; check the current rules or consult counsel before acting on anything here. FINRA accepted a Letter of Acceptance, Waiver, and Consent (AWC) with Apex Clearing Corporation (CRD No. 13071) on November 3, […]
FINRA Arbitration Through September 2026: Customer Filings Up 16%
By Mark J. Astarita, Esq. This commentary is general information, not legal advice. Rules and their interpretations change; check the current rules or consult counsel before acting on anything here. FINRA’s latest Dispute Resolution Services statistics, through September 2026, show customer cases rising, industry cases falling, and cases taking slightly […]
Former Broker-Dealer Partner Pleads Guilty in SPAC Insider Trading Conspiracy: Lessons for Brokers
By Mark J. Astarita This commentary is general information, not legal advice. Rules and their interpretations change; check the current rules or consult counsel before acting on anything here. A former partner at a New Jersey broker-dealer has pleaded guilty to conspiracy to commit securities fraud in a SPAC insider […]
FINRA Suspends Broker Who Secretly Settled $139,000 in Customer Complaints
This post is for informational purposes only and is not legal advice. Every few months I see a version of this story, and it almost always starts with good intentions. A client is unhappy. The investments haven’t performed. The broker likes the client, feels responsible, and wants the problem to […]
Court Enters $3 Million Consent Judgment Against Former Western Asset Co-CIO Ken Leech: Cherry-Picking Allegations and the Lesson of Late Trade Allocations
This commentary is general information, not legal advice. Rules and their interpretations change; check the current rules or consult counsel before acting on anything here. By Mark J. Astarita, Esq. On October 6, 2026, the SEC moved in the Southern District of New York for entry of a final judgment […]
Flagged by an Algorithm? What AI Surveillance of Insider Trading Means If the SEC or FINRA Comes Calling
By Mark J. Astarita, Esq., Sallah Astarita & Cox, LLC This commentary is general information, not legal advice. Rules and their interpretations change; check the current rules or consult counsel before acting on anything here. A recent article on Mondaq, “Can The SEC Use AI To Detect Insider Trading? How […]
The End of the Pattern Day Trader Rule Is Not the End of Day-Trading Exposure: A Defense Lawyer’s View
FINRA’s 2026 intraday margin rule eliminated the pattern day trader designation and the $25,000 minimum, but FINRA Rules 2130 and 2270 remain in force. Securities attorney Mark J. Astarita discusses the supervisory, enforcement and arbitration exposure for broker-dealers and practical defense steps.
SEC Proposes to Scrap “Pay-to-Play” Rule for Investment Advisers
The SEC has proposed rescinding its 15-year-old rule that restricts investment advisers from doing paid work for government clients after making certain political donations.
Finder Registration – 2026 Update
As I discussed in the original article, and its updates, despite years of discussion and proposals, there has been no significant changes in the regulation of finders. The SEC’s 2020 proposal for a two-tier finder exemption was never finalized. Therefore, the traditional broker-registration analysis under Exchange Act Section 15(a) still […]
