Follows SEC Lead in Upholding Rights to Due Process and Fundamental Fairness after 7 year delay in commencing proceedings. By Mark J. Astarita, Esq. Delays by regulators in bringing enforcement actions is a recurring problem for brokers and firms, as well as their defense counsel. As those of us who […]
Compliance
NAC Upholds Due Process
NASD Adjudicatory Council Strikes Case Because of Delays Follows SEC Lead in Upholding Rights to Due Process and Fundamental Fairness after 7-year delay in commencing proceedings. By Mark J. Astarita, Esq. Delays by regulators in bringing enforcement actions is a recurring problem for brokers and firms, as well as their […]
Finders Explained – Be Careful
A question I am often asked is what is the definition of a finder, or questions that lead to that question. The issue arises when an unregistered person or entity introduces investors to an issuer and seeks to obtain payment based on the investment made by the investor. The problem […]
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 […]
Email Pump and Dump Scams Revealed
SEC Cracks Down on Email Pump and Dumps Seven Actions Against 31 Defendants For Violations in Connection with Email and Website Stock Promotions By Mark J. Astarita, Esq. For those of you who are tempted to follow the “investment advice” that you receive in emails, or that you find on […]
Calling England
Foreign Countries Have Their Own Securities Regs, and You Have to Comply With Them Too. By Mark J. Astarita, Esq. Financial professionals who are looking to solicit foreign investors have more to consider than the United States securities laws. Just like the United States has an interest in protecting its citizens […]
Analyst Conflicts – Problems? Solutions?
The SEC Releases an Investor Alert on Analyst Conflicts and Suggests that Investors do their Own Research. By Mark J. Astarita, Esq. June 30, 2001 The SEC has posted an Investor Alert on Analyst Recommendations and Conflicts Tilted “Analyzing Analyst Recommendations”. According to the Commission, the Alert is intended to warn investors of […]
Misrepresentation in Securities Arbitration
MISREPRESENTATION IS ONE OF THE MOST used and abused claims in securities arbitration. A form of a fraud claim, misrepresentation involves knowingly making false statements that a listener will rely and act upon. Obviously, this violates a broker’s professional obligation to deal fairly with customers and breaches a customer’s […]
FINRA Enforcement
According to FINRA’s public statements, one of its top priorities is enforcing its rules and federal securities laws. FINRA investigates activity that it believes may indicate a securities law violation and files disciplinary proceedings against firms and their associated persons to address such violations. A FINRA investigation, which typically starts with a request […]
Guide to State Securities Administrators
Maintained by Mark J. Astarita, Esq. Last Updated March 2022 Introduction A complete listing of the contact information for the State Securities Commissions, who regulate securities transactions , in addition to the rules and regulations of the Securities and Exchange Commission . Here is a listing of the various state […]
