Author: Mark J. Astarita

News

SEC Proposes Enhancements to Open-End Fund Liquidity Framework

The Securities and Exchange Commission today voted to propose amendments to better prepare open-end funds for stressed conditions and to mitigate dilution of shareholders’ interests. The rule and form amendments would enhance how funds manage their… Read the Full Press Release Have a securities law question? Call New York Securities […]

News

The Collapse of FTX Explained

There is an excellent overview of the FTX collapse at MSNBC, at https://www.msnbc.com/opinion/msnbc-opinion/ftx-collapse-sam-bankman-frieds-crypto-rcna57263—– Visit The Securities Lawyer at www.securitieslawyer.us

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Brokers

December 7 Deadline to Comment on New Expungement Proposal

With only 4% of customer complaints being expunged, FINRA is bowing to pressure, presumably from the customer attorneys’ bar, to again make it more difficult to remove false claims from a broker’s public record. FINRA’s recent proposed amendment seeks to make expungement an even more extraordinary remedy by preventing anyone […]

Brokers Enforcement Investors

SEC Charges Unregistered Brokers that Facilitated more than $1.2 Billion in Primarily Penny Stock Trades

Nov. 17, 2022 — The Securities and Exchange Commission today charged Jeffrey K. Galvani, Stuart A. Jeffery, and two New York-based entities they controlled with operating as unregistered broker-dealers that facilitated more than $1.2 billion of securities trading, primarily in penny stocks. The SEC’s complaint alleges that Galvani and Jeffery […]