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How Banks Are Losing Clients to Their Own Employees – Bloomberg
Morgan Stanley could do little but watch as a team of advisers overseeing $2.2 billion in assets quit last month to start their own shop, the latest in a string of departures that have shifted billions of dollars in assets away from big Wall Street banks.After months of secret and […]
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SECLaw.com Media Kit
Media Kit Site Overview SECLaw.com is the Internet’s top site for securities law, commentary, news and discussion forums. The site is targeted to financial professionals, investors and attorneys, and receives 25,000 page views a month from over 10,000 unique visitors. The site contains approximately 50,000 pages of information, articles, commentary […]
Message Board Poster Settles SEC Case
By Mark J. Astarita, Esq. The SEC announced that it had accepted an offer of settlement from a 15 year old defendant who the Commission accused of manipulating the price of 9 different securities, generating profits of $272,000 for himself, using his custodial brokerage account. According to the SEC, the […]
SEC Sues Newsletter Publisher
Violations of 17(b) Alleged for Failing to Disclose Compensation By Mark J. Astarita, Esq. September 24, 1998 – the SEC announced the filing of a civil action involving a fraudulent touting scheme engaged in by individuals and the corporate publisher of a Newsletter. The Complaint alleges that the individuals […]
Promoter Settles SEC Anti-Touting Action
By Mark J. Astarita, Esq. SEC FILES LAWSUIT AGAINST HOUSTON INTERNET STOCK PROMOTION FIRM On August 18, 2000, the SEC announced that it filed a civil complaint against an Internet company and its owners, alleging that the company distributed press releases and other communications via the Internet touting numerous OTC […]
NASD NAC Upholds Due Process 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 defense counsel. As those of us who […]
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 […]
Brewing Trouble?
Internet public offerings the new rage? By Mark J. Astarita, Esq. [Ed. Note: This article was originally published in the July 1996 issue of Research Magazine.] By now, you’re probably aware of Spring Street Brewing’s successful initial public offering completed last year. The company conducted a self-underwriting almost entirely on […]
