The Law of the Financial Markets from Top Securities Lawyers
Saturday, March 15, 2025
The SEC has taken action against Wells Fargo Clearing Services LLC and Wells Fargo Advisors Financial Network LLC (collectively referred to as Wells Fargo). The SEC has charged Wells Fargo for the excessive charging of over 10,900 investment advisory accounts, resulting in more than $26.8 million in undue advisory fees. […]
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 […]
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 […]
$74 Million dollar scheme, defrauded over 3,200 investors according to SEC By Mark J. Astarita, Esq. The Commission announced the promoter of a fraudulent prime bank scheme, which raised over $74 million from at least 3,200 U.S. and Canadian victims was sentenced to 30 years in prison. The promoter was […]
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 […]
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 […]
With only 15% of the cases using the alternatives, should the program be extended? NYSE PILOT ON ARB SELECTION: A two-year pilot program at the New York Stock Exchange is scheduled to expire on July 31, 2002. This program, which details three alternatives that parties may use, instead of the […]
Thirty Awards, Including a 9 Million Dollar Member-Member Award, and a Loss for a Customer in An Employee Stock Option Case Against Goldman NYSE AWARDS, 10/02: Among the 30 Awards released by the New York Stock Exchange’s Arbitration Department for the month of October 2002 were Awards depicting all types […]
Comments on the Perino Report and the California Court Decision NYSE STATEMENTS RE CALIFORNIA ARBITRATION: Posted on the NYSE Arbitration WebSite are two new statements, one of which responds to the Perino Report and the Nov. 12 federal court decision in California and the other of which offers three options […]
Twenty New Awards, Ten Awarding Damages to Customers Twenty Awards issued from the New York Stock Exchange’s Arbitration Department in February, ten of which awarded Claimants damages on their claims. Three of the losing Awards and one of the winners for customer-Claimants were the ML Media Opportunity Partners disputes that […]
