The Law of the Financial Markets from Top Securities Lawyers
Sunday, December 8, 2024
Commentary, news and links of interest to financial advisers.
Every securities broker is required, by law, to file a report of any suspicious transaction relevant to a possible violation of law or regulation. A transaction requires reporting if it involves or aggregates funds or other assets of at least $5,000, and the broker-dealer knows, suspects, or has reason to suspect that […]
Compliance with Regulation Best Interest (Regulation BI) and Form CRS is due on June 30, 2020 for all registered broker-dealers and investment advisers. See Introduction to Regulation Best Interest Regulation Best Interest at FINRA Regulation Best Interest (BI) information at the SEC website
SEC Regulation Best Interest In June of 2019 the SEC approved Regulation Best Interest, which requires broker-dealers to act in the best interest of their retail customers when making recommendations as to securities or investment strategies. In adopting the regulation, the SEC stated that the regulation “enhances the broker-dealer standard […]
False CRD Disclosures can ruin your practice, if not your career. Call Sallah Astarita & Cox, LLC today at 212-509-6544 to learn if your complaints and termination disclosures can be permanently removed from your CRD report, and BrokerCheck. We have been helping brokers across the country to remove false reports […]
The Zoom videoconferencing app has become almost as pervasive as the virus itself; millions of workers, friends and family members now use it daily to communicate in as close to in-person fashion as we can get under the social distancing regime. However, like all technology, there can be some risk. […]
The IRS and its Criminal Investigation Division have seen a wave of new and evolving phishing schemes against taxpayers. In most cases, the IRS will deposit economic impact payments into the direct deposit account taxpayers previously provided on tax returns. Those taxpayers who have previously filed but not provided direct […]
The SEC is providing additional temporary regulatory relief to market participants in response to the effects of the Coronavirus Disease 2019 (COVID-19). The actions announced today involve (1) parties needing to gain access to make filings on the EDGAR system, (2) certain company filing obligations under Regulation A and Regulation […]
A former star broker for UBS Financial Services Inc. who was repeatedly called a “bitch” by her boss won a $1.6 million discrimination arbitration award last month. According to InvestmentNews.com, the broker, Chrisine Carona, worked for UBS in Boston from March 2009 through July 2017 and currently is employed by Morgan Stanley. She was […]
CRD, Your Permanent Record, and Your Future By Mark J. Astarita, Esq. Note: CRD disclosures can be removed in limited circumstances. To learn more, read Expungement of Customer Complaints, and call Sallah Astarita & Cox, LLC at 212-509-6544 When you were young and in high school, a big threat from […]
When changing firms, and moving between two firms that are part of the Broker Recruiting Protocol, can the broker take client account numbers with her. We get that question a lot. Under the Protocol a broker may take only the client name, address, phone number, email address, and account title […]
