Morgan Stanley could do little but watch as a team of advisers overseeing $2.2 billion in assets quit last month to start their own shop, the latest in a string of departures that have shifted billions of dollars in assets away from big Wall Street banks.After months of secret and […]
Mark J. Astarita
Congress Still Trading On Non-Public Information?
Even a looming scandal wouldn’t deter some of Congress’ most eager stock traders.” This article from Politico details the outrageous trading patterns of some members of Congress, who despite the STOCK Act, continue to trade in the securities of companies who are the influenced by their investigations and legislation. The […]
Brokers Can Win Promissory Note Cases
We all know that defending promissory note cases for brokers is difficult. After all, those notes have been written, revised, rehashed and reworked by brokerage firm attorneys for years.As I have noted in the past, and in my near daily telephone consultations with brokers with promissory note issues, this does […]
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Everyone Does It Defense Falls Short
Even coupled with the ever popular “I didn’t know it was a crime” defense, an Investment Advisor loses. Lessons in securities regulation for the self-help minded. By Mark J. Astarita, Esq. Too often I hear clients, or more appropriately, potential clients, explain to me that they did not use an […]
Who regulates the stock market in the US?
The stock market has many different regulators. The primary regulator is the Securities and Exchange Commission. The stock exchanges are governed by their own organizations, under the direction of the SEC. Stock brokers and brokerage firms are regulated by the Financial Industry Regulatory Authority (FINRA) which was formerly known as […]
Millennials Are a ‘Generation Lost’ for Financial Matters
Millennials are a “generation lost,” according to a new study, and are in for a tough time when they finally reach retirement, thanks to a lack of understanding of financial matters as much as a lack of interest.The study, titled “Generation Lost: Engaging Millennials with Retirement Saving,” from BNY Mellon […]
The Securities Law Letter
The Securities Law Letter is a monthly email newsletter, containing the latest news, commentary, rule proposals and amendments, as well as press releases and other web based information of interest to those who are interested in the United States Securities Laws. The Securities Law Letter is free, but we need […]
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FINRA Fines Morgan Stanley $2 Million for Short Interest Reporting and Short Sale Rule Violations | FINRA.org
The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Morgan Stanley & Co. LLC $2 million for short interest reporting and short sale rule violations that spanned a period of more than six years, and for failing to implement a supervisory system reasonably designed to detect and […]
