Changes for the New Century By Mark J. Astarita, Esq. Last year was the last of something of an incredible century for the world, and no less so than for the financial markets. The changes in the financial markets over the last 100 years have obviously been significant, but it […]
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Damage Control
IN 12 OR SO YEARS OF REPRESENTING securities professionals in arbitrations, I have heard a near-constant refrain from my clients and other members of the financial community: The arbitration process is not fair. The general complaints are that arbitrators are biased in favor of customers, particularly those who are sympathetic; […]
Court Upholds Prehearing Dismissal of Clearing Broker
“Clearing firms are generally not responsible to customers for the actions of an introducing broker” Warren v. Tacher, C.A. No. 3:99-CV-806-R (W.D. Ky., 6/2/00): We mentioned this recent ruling in this well-known arbitration case in last weeks Arbitration Alert (00-26). The Award under challenge in this proceeding constituted the largest […]
Banking Regulators Propose Regulation of Insurance Products Sold by Banks
New Rules under Gramm-Leach-Bliley Act By John M. Baker, Esq. On August 21, 2000, the federal banking regulators (Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, and Office of Thrift Supervision) released proposed regulations implementing consumer protection provisions of […]
Internet Touting – SEC Seeks Cease and Desist Order
Cease and Desist Order Sought Against Internet Investor Relations Firm and its President On February 24, 1999 the SEC issued an order to institute cease-and-desist proceedings against a Minnesota-based investor relations company, alleging that it and its president violated the anti-touting provision of the Securities Act of 1933 by publishing […]
SEC Files Complaint against Internet Newsletter
By Mark J. Astarita, Esq. October 27, 1998 – The SEC announced the filing of a complaint in the U.S. District Court for the Northern District of Texas seeking a permanent injunction and civil penalty against the author of an investment newsletter which was published on the Internet. The complaint […]
Death of a Salesman?
Securities law resources, including all rules, and regulations from the NASD, NYSE and SEC, with expert commentary from securities attorneys and legal professionals.
Liar, Liar?
Misrepresentation cases in securities arbitration By Mark J. Astarita, Esq. This is one of Mark’s original columns from September 1996 in Research Magazine. It has been updated since then, most recently in June of 2021. The reality is…not much has changed. Misrepresentation claims are one of the most common claims […]