]]> Home | Message Board Home Search Arbitration Investors Brokers Finance Law Compliance Archives NYSE Awards of Note – 02/03 ML Media Cases, Broker Cross Claims against Settling BD and more NYSE AWARDS, 2/03: 24 of the 28 Awards issued by the Exchange in this monthly period were […]
Tag: Compliance
NASD Arbitration Award Vacature Statistics
NASD Vacature Statistics Reveal Surprises More attempts to vacate, higher success rate revealed As a consequence of NASDs efforts to track payment of the arbitration Awards it issues, statistics are now available that indicate the incidence with which Awards favoring customers are challenged and how often those challenges meet with […]
NASD Proposal Regarding Unpaid Awards
Membership approval will include review of unpaid awards, and more. A Rule proposal regulating the membership application process will make it more difficult for brokerage firms and associated persons to avoid paying arbitration Awards through the camouflage of reorganization. The transfer of assets from one brokerage firm to […]
New Broker Disclosure
New NASD Proposal will require more disclosures by retail brokers. The war on analysts is now threatening brokers. In proposing heightened disclosures from analysts, the NASDR has included retail brokers as well. The July proposal, NASD Notice to Members 01-45, broadens disclosure obligations for public appearances by analysts and brokers […]
Analyst Disclosure Issues
Analyst Disclosure Issue Would Snag Brokers New NASD Proposal will require more disclosures by retail brokers. The war on analysts is now threatening brokers. In proposing heightened disclosures from analysts, the NASDR has included retail brokers as well. The July proposal, NASD Notice to Members 01-45, broadens disclosure obligations for […]
Perrino Report
NASD FILES PERINO REPORT AMENDMENTS: Responding to the Perino Report, NASD seeks revisions on arbitrator disclosure and removal standards, plus it is narrowing its public and non-public arbitrator classifications. The amendments NASD proposes to Rules 10308 and 10312 parallel those we described in last weeks report on NYSEs rule changes […]
Prime Bank Fraud Action by SEC
Another Prime Bank Fraud Action Commenced by SEC December 20, 2000. The SEC announced today that it filed an action against Phillip Ezell, a resident of Fort Wayne, Indiana, for offering fictitious “prime bank” instruments over the Internet from March 1998 to August 2000. The Commission alleges that Ezell, doing […]
Internet Promoters Settle Anti-Touting Case
By Mark J. Astarita, Esq. On July 17, 2000 the SEC announced that it filed a civil complaint against an internet company and its officer. In addition to fraud charges, the SEC alleged that the defendants engaged in scalping for selling the security they were recommending while making the recommendation […]