Just about every securities broker is aware of the existence of the Protocol for Broker Recruiting (the “Broker Protocol”). Unfortunately, too many brokers think they understand the Protocol, and move forward with a transition without the assistance of experienced counsel. That leads to a motion for an injunction in court, with a […]
Brokers
Commentary, news and links of interest to financial advisers.
Enhancing Investor Education and Protection in World Investor Week 2023
Introduction The Securities and Exchange Commission (SEC) has announced its commitment to emphasizing the significance of investor education and protection during the World Investor Week (WIW) 2023, which is scheduled from October 2nd to October 8th. The ever-evolving landscape of technologies and digital tools has revolutionized the investment landscape, making […]
Hire a Securities Defense Attorney to Respond to an SEC Subpoena
By Mark J. Astarita, Esq. For individuals and businesses involved in securities-related matters, facing a subpoena can be daunting. These investigations can be lengthy, detailed, and quite intense. The SEC wields substantial authority to investigate potential violations of securities laws, and responding to a subpoena demands a keen understanding of […]
SEC Proposes Rule Amendments to the Broker-Dealer Customer Protection Rule
July 12, 2023 —The SEC has proposed amendments to Rule 15c3-3 (the Customer Protection Rule) to require certain broker-dealers to increase the frequency with which they perform computations of the net cash they owe to customers and other broker-dealers (known as PAB account holders) from weekly to daily. Net cash […]
JPMorgan, Ex-Broker Agree to Non-Solicit Truce in TRO Battle
Less than a week after it filed for a temporary restraining order against a broker who jumped to Morgan Stanley, JPMorgan Chase & Co. and the broker have agreed to a stipulated injunction, according to a court filing earlier this week. As part of the order, Brett A. Jacobson agreed […]
SEC Subpoenas – Tips for Responding – 2023
How you respond to an SEC subpoena makes a difference. Tips from an experienced securities attorney.
Whistleblowers Need Lawyers
By Mark J. Astarita, Esq. Navigate the SEC whistleblower process with our comprehensive guide. Learn how to report financial misconduct confidently and protect your identity. A detailed walkthrough ensures you understand each stage, empowering you to play a crucial role in maintaining integrity in the financial sector. The SEC whistleblower […]
Securities Arbitration Overview-2023 Update
Securities Arbitration is not like any other proceeding Background Arbitration is a dispute resolution process, which is an alternative to the traditional lawsuit in court. Rather than have a matter decided by a judge and jury, participants to an arbitration proceeding have their dispute resolved by an impartial panel […]
SEC Proposes Enhanced Safeguarding Rule for Registered Investment Advisers
On February 15th, 2023, the Securities and Exchange Commission (SEC) announced its proposed rule changes to enhance protections for customer assets managed by registered investment advisers. If adopted, the changes would amend and redesignate rule 206(4)-2, the Commission’s custody rule, under the Investment Advisers Act of 1940, and amend certain […]
Issues with Self-Directed IRAs
Self-Directed IRAs: A Gateway to Financial Empowerment? Many investors believe that using a self-directed IRA will give them greater control over their retirement savings and greater potential profits. As financial professionals are aware, unlike traditional IRAs, self-directed IRAs empower account holders to diversify their investment portfolios by venturing beyond the […]