The Law of the Financial Markets from Top Securities Lawyers
Wednesday, April 24, 2024
SEC Judgment Against Momentum Stock Picking Site By Mark J. Astarita, Esq. The SEC announced that on May 25, 2001, the U.S. District Court in Eugene, Oregon entered judgments against Jared R. Leisek and his brother, Byron J. Leisek. According to the SEC, its complaint, filed on March 1, 2001, […]
Proposed MSRB Interpretations Interpretation of Dealer’s Affirmative Disclosure Obligations Released By John M. Baker, Esq. Feb. 12, 2002 – The Securities and Exchange Commission this week published comment notices for two Municipal Securities Rulemaking Board notices on the responsibilities of dealers to municipal securities customers. The notice published today proposes […]
Sales Practices, solicitations, advertising regulations adopted By John M. Baker, Esq. The Office of the Comptroller of the Currency has posted the final version of consumer-protection regulations adopted by the OCC, FDIC, OTS, and Federal Reserve under the Gramm-Leach-Bliley Act. The regulations apply to retail sales practices, solicitations, advertising, and […]
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 […]
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 […]
What they are, how they work, and when they do not work. By Mark J. Astarita, Esq. 10b5-1 Plans- Insider Trading Defense As executive compensation becomes increasingly based on stock options, more and more executives find themselves in an insider trading quagmire when they attempt to sell their securities for […]
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 […]
Soft Dollar Arrangements are agreements between broker-dealers and their clients where the broker-dealer provides, in addition to other services, research to the client, in addition to execution services. The research, which includes reports, access to analysts, or third party reports is provided to the client by the broker-dealer at the […]
Panel awards Fidelity Brokerage Full Damages on Mistaken ACAT Transfer FIDELITY BROKERAGE SERVICES, INC. v. LaVALLIE, NASD ID # 99-03918 (New York, 8/22/03). A customer who wrongly retained an over delivery of securities is held liable for the consequences, in spite of the broker-dealer’s error. Fidelity made a mistake when […]
Ratifies Unauthorized Transactions by Failure to Object John Dawson & Associates, NDIll Bankruptcy Court John Dawson & Assoc., Inc., In Re, Adversary No. 99 A 00536 (N.D. Ill. Bankr., 1/16/03). Bankruptcy/Insolvency Issues * Ratification * Unauthorized Trading * Statutory Definitions (“Conversion”) * SIPA. SIPC claim is disallowed due to ratification […]
