The stock market has many different regulators. The primary regulator is the Securities and Exchange Commission. The stock exchanges are governed by their own organizations, under the direction of the SEC. Stock brokers and brokerage firms are regulated by the Financial Industry Regulatory Authority (FINRA) which was formerly known as […]
Investors
Millennials Are a ‘Generation Lost’ for Financial Matters
Millennials are a “generation lost,” according to a new study, and are in for a tough time when they finally reach retirement, thanks to a lack of understanding of financial matters as much as a lack of interest.The study, titled “Generation Lost: Engaging Millennials with Retirement Saving,” from BNY Mellon […]
For The Record
Note: Mark Astarita was the legal columnist for Research Magazine from 1995 to 2000. This column was the first in of 5 years of monthly articles. BY MARK J. ASTARITA, ESQ. By now, you’re probably aware of Spring Street Brewing’s successful initial public offering completed last year. The company conducted […]
10b5-1 Plans Under Attack –
Who is watching your plan? By Mark J. Astarita, Esq. Recently the media has caught on to the newest regulatory trend – the investigation and review of 10b5-1 plans. These plans, created by the SEC when it adopted Rule 10b5-1 are used by hundreds, if not thousands of executives, and […]
Mutual Fund Legal Information Center
Sponsored by Mark J. Astarita, Esq. Featured Books: Mutual Funds For Dummies, 6th edition – “With straightforward advice and a plethora of specific up-to-date fund recommendations, personal finance expert Eric Tyson helps you avoid fund-investing pitfalls and maximize your chances of success. This revised edition features expanded coverage of ETFs, […]
Regulatory Analyst Settlement and Arbitration Impact, $1.4 billion
Expectations have been raised by the media, claimants’ counsel and other pundits that a flood of arbitration filings will follow the conclusion of the $1.4 billion regulatory settlement regarding analyst conflicts. RESEARCH SETTLEMENT & ARBITRATION IMPACT: Expectations have been raised by media, Claimant’s counsel and other pundits that a flood […]
Selling Away Claims Denied in Arbitration
Firm Still Must Pay $32,000 In Forum and Related Fees ROBINSON v. FIRST ALLIED SECURITIES, INC., NASD ID #99-04441 (Pittsburgh, 9/25/01): This “selling away” case involved thirteen separately filed arbitrations that were consolidated for pre-hearing and hearing purposes. By the time of the hearing, the broker had declared bankruptcy, leaving […]
Qualified Immunity for NASD
Federal Court Finds Immunity for NASD Staff and State Investigators Tretiak v. Del Papa, No. 00-17248, 2001 U.S. App. LEXIS 24738 (9th Cir., 11/13/01). Enforcement Practice/Procedure – Privileges & Immunities (Absolute Immunity; Qualified Immunity) – Representation Issues – Timeliness Issues (Statutes of Limitations). Regulators have qualified immunity against claims based […]
NASD Approves Customer Transfer Interpretation
NASD Approves Customer Transfer Interpretation Freezing accounts when broker transfers firms no longer an option Approved by the SEC on January 4, 2002, this new policy will assure that customers will be able to transfer accounts without restriction to follow a departing broker. The full text of IM 2110-7 states […]
Analyst Disclosure Issue Would Snag Brokers
New NASD Proposal will require more disclosures by retail brokers. The war on analysts is now threatening brokers. In proposing heightened disclosures from analysts, the NASDR has included retail brokers as well. The July proposal, NASD Notice to Members 01-45, broadens disclosure obligations for public appearances by analysts and brokers […]
