The Law of the Financial Markets from Top Securities Lawyers
Saturday, December 6, 2025
Commentary, news and links of interest to financial advisers.
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 […]
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 […]
There are thousands of complaints filed every year, and they fall into categories. UPDATED November 19, 2021. The trial of customer arbitration claims is a large part of my legal practice. I have been representing customers and brokers in securities arbitration matters since 1982. In those 35 years, I have […]
Compliance with securities regulations is only the beginning By Mark J. Astarita, Esq. Introduction Cold calling is a method of marketing a service or product by calling prospective clients “cold” – that is, without an introduction, to determine if the potential client has a need for, or interest in, the […]
You can take steps to avoid being sued by your customers. By Mark J. Astarita, Esq. Introduction Since the United States Supreme Court Decision in MacMahon v. Shearson American Express, arbitration has been the preferred method of resolving customer disputes. In fact, today nearly every brokerage firm in the country […]
You may need a court order to enforce an arbitrator’s award By Mark J. Astarita, Esq. Arbitration awards are not, by themselves, enforceable in a court of law. The prevailing party must have the award “confirmed” by a court. The procedure is relatively simple and is governed by state and […]
For many years, all claims that a registered representative had against a broker/dealer was subject to mandatory arbitration, by virtue of the representative’s association with the National Association of Securities Dealers, Inc. However, on January 1, 1999, the NASD changed the Rule 10201 (Required Submission), relating to the arbitration of […]
Internet Promoters Enjoined by SEC The SEC has been pursuing those who illegally tout stocks on the Internet for over 20 years, but the conduct continues. The typical case ends in a series of fines, and the entry of a permanent injunction against the promoter who failed to follow the […]
By Mark J. Astarita, Esq. SEC FILES LAWSUIT AGAINST HOUSTON INTERNET STOCK PROMOTION FIRM On August 18, 2000, the SEC announced that it filed a civil complaint against an Internet company and its owners, alleging that the company distributed press releases and other communications via the Internet touting numerous OTC […]
Is a Hedge Fund the Way Out of the Regulatory Nightmare? By Mark J. Astarita, Esq. One of my personal market indicators is what I call the “Hedge Fund Indicator”, and is based on the number of inquiries I receive from non-financial professionals who want to start a hedge fund […]
