Seeking TROs to stop transfers to be banned By John M. Baker, Esq. May 22, 2001 – NASD Regulation today posted a request for comment on a proposal to prohibit NASD member actions interfering with the transfer of customer accounts. NASD Notice to Members 01-36 (June 2001). As discussed in […]
Brokers
Commentary, news and links of interest to financial advisers.
LAW REVIEW: Liar, Liar?
Form u-4 and form u-5 are two of the most oppressive and abused securities industry documents. recent changes were approved without a single comment from the industry. The SEC‘s Bad Form By Mark J. Astarita, Esq. On July 5, 1996, the Securities and Exchange Commission (SEC) announced it had approved […]
Fight Back Revisited
A recurring problem in civil litigation is the filing of claims by plaintiffs which lack merit, or are which are filed for purposes other than to address a grievance or a wrong. The problem is particularly acute in the securities arbitration arena, where in addition to the cost, expense and […]
Expungement of Customer Complaints
You can remove derogatory reports from your CRD Report. Call 212-509-6544 to discuss the process with a securities law attorney. The problems associated with FINRA‘s CRD Disclosure System are well known to visitors to SECLaw.com, as we have written about the issue a number of times. The concept of disclosing […]
Spring Street Paves the Way – Internet Offerings
IN JULY’S COLUMN, WE ADDRESSED THE “INTERNET OFFERING,” a public securities offering on the Internet usually conducted by the issuer without using an underwriter. Since then, broker/dealers and issuers have begun using the Internet in connection with Regulation A offerings as well as traditional IPOs. In the past few months, no […]
SEC’s Cheap Shot at Martha Stewart
Again. The Abuse of Power. The second part of the story is undoubted of more interest to securities lawyers, judges, and law professors, but the rest of you should continue reading. Government abuse is a topic that affects all of us and unfortunately happens too often. The abuse involves quests […]
Rogue Customers
Customers who abuse the system, and harm their brokers. By Mark J. Astarita, Esq. These days, it seems that every major publication, and every television news show, has done, or is doing, a story on “rogue brokers” – brokers who care nothing about their customers, or their firms, or the […]
Guide to Broker-Dealer Registration
By Mark J. Astarita, Esq. The following article has been adopted from an article distributed by the SEC‘s Division of Market Regulation. The article was originally posted in December 2005. It’s last update by securities attorney Mark Astarita, for SECLaw.com was in September 2006 Table of Contents Introduction Who Is […]
Promissory Note Fraud
NASDR Warns Investors and Brokers of Promissory Note Fraud Schemes. Investors Beware. By Mark J. Astarita, Esq. The NASD has issued a regulatory alert to broker-dealers regarding the significant number of fraudulent promissory note schemes that have been offered to investors and to remind members and registered persons of the […]
Who Needs to Register
By Mark J. Astarita, Esq. I am often asked by readers and visitors to my web site whether particular people have to register with the NASD. The question is not so easy to answer, and, like most things regulatory, often changes. So, while I attempt to discuss the categories of […]
