The Law of the Financial Markets from Top Securities Lawyers
Friday, December 8, 2023
The Securities and Exchange Commission charged Merrill Lynch, Pierce, Fenner & Smith with misleading customers about how it handled their orders. Merrill Lynch agreed to settle the charges, admit wrongdoing, and pay a $42 million penalty. According to the SEC’s order, Merrill Lynch falsely informed customers that it had executed […]
The SEC alleges that, starting in approximately 2010, Michael Scronic began to raise money from at least 42 friends and acquaintances, many of whom were from his suburban community, in order to invest in a risky options trading strategy. He allegedly lured investors by informing them that he had a long […]
URL-Y WARNINGS BY MARK J. ASTARITA, ESQ. In the late 1990s, a broker at a major wirehouse posted a Web site providing general market information. The broker’s site was being visited by 1,000 potential customers a day. His firm’s reaction? They shut him down out of fear of the new […]
According to FINRA’s public statements, one of its top priorities is enforcement of its rules, as well as the federal securities laws. FINRA investigates activity which is believes may indicate a securities law violation, and files disciplinary proceedings against firms and their associated persons to address such violations. A FINRA […]
By Mark J. Astarita, Esq. Introduction The Securities and Exchange Commission decided in May to test it’s new procedure – the one where they get to be the judge, jury and prosecutor, at the same time, and get to impose whatever sanctions they deem appropriate on a broker-dealer. When […]
Again. The Abuse of Power. The second part of the story is undoubted of more interest to securities lawyers, judges, and law professors, but the rest of you should continue reading. Government abuse is a topic that affects all of us and unfortunately happens too often. The abuse involves quests […]
The Securities and Exchange Commission announced that on September 14, 2000, it filed a civil lawsuit against 1stBuy.com, Inc. (1stBuy) and its founder and CFO, Roger D. Pringle. The SEC’s action pertains to a pre-ipo offering, an Internet stock offering conducted by 1stBuy during 1999 and early 2000 in which […]
