The Law of the Financial Markets from Top Securities Lawyers
Saturday, October 18, 2025
Securities arbitrations, in fact, all arbitrations, are conducted in the same manner that a court trial is held, without some of the formalities. There are opening statements, first by the attorney for the claimant (typically a customer) and then by the respondents (the broker and/or his firm). The openings are […]
The Supreme Court ruled [June 5, 2017] that claims for disgorgement brought by the SEC are governed by a five-year statute of limitations. The Court’s unanimous opinion in Kokesh v. SEC, No. 16-529, slip op. at 5 (U.S. June 5, 2017) (Sotomayor, J.), held that disgorgement, as it is applied […]
Major stock indexes swung lower Tuesday after President Donald Trump‘s son released an e-mail exchange that showed him setting up a meeting with a Russian lawyer to obtain damaging information about Hillary Clinton. Source: See Markets React to Donald Trump Jr. E-Mails in 6 Charts – MoneyBeat – WSJ Get […]
Arbitrator selection has always been one of the most important parts of the arbitration process, and FINRA has strived over the years to make the process fair. Unfortunately, it is not as transparent as it might otherwise be. FINRA’s arbitrator appointment process uses the Neutral List Selection System which FINRA […]
A Symptom of Wall Street Revenue Dip One bond trader says he’s been slipping out early to watch his kids play sports. A fund manager says his office just staged a golf retreat. A trading supervisor at another bank confides he’s swiping through a lot of profiles on Tinder, the […]
Receiving a subpoena from the SEC, or an 8210 Request from FINRA can be the start of a long investigative process while can ultimately lead to a Wells Notice, and an enforcement proceeding. How you handle that process can dictate the end result, and you need to retain competent securities […]
Churning is excessive trading in a customer’s account by a broker taken in the context of the customer’s financial situation and investment objectives. While no one test is available to determine if an account has been churned, churning requires three elements, first, excessive trading, and second, control of the account […]
FINRA is following many states in pressing forward with a rule that aims to give advisers more tools to combat elder abuse, a large and growing problem that many financial professionals are struggling to address. FINRA has developed a rule that aims to better protect elderly clients and also give […]
Becoming a millionaire can seem like a pretty lofty goal — or even just a fantasy — but according to financial adviser David Bach in his book “Smart Couples Finish Rich,” all it takes is a little planning.It might seem impossible, but starting off saving just $2 a day when you’re […]
Goldman Sachs Group Inc. sued two former vice presidents in the bank’s private wealth management unit in Chicago, claiming they poached clients for their own new investment advisory business. The two men, Jeffrey Friedstein and Joseph Page, gave notice on Friday they were quitting, Goldman Sachs said in a complaint […]
