Hiring a securities lawyer, whether you are an investor or a financial professional, is the most important decisions in recovering losses, or in defending against claims and investigations. However, the tag lines used by securities law firms in their advertising is not the way to go about finding a securities lawyer. […]
Tag: Securities Lawyer
Promoter Settles SEC Anti-Touting Action
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 […]
Hedge Fund Creation, Regulation and Compliance
By Mark J. Astarita, Esq. In its most expansive definition, a hedge fund is a private investment fund, usually structured as limited partnership, managed by the general partner who makes the investment decisions and collects a management and incentive fee. The investors in the fund are the limited partners, who […]
A Look Inside a Securities Arbitration Hearing 2023
Just What Happens at an Arbitration? By Mark J. Astarita, Esq. Past columns have touched on arbitration hearings, and have raised the question of just what happens during an arbitration hearing. There is apparently significant misconceptions about the hearing process. Hopefully I can clear some of this up, and provide […]
SIA Opposes New Expungement Rule Proposal
Cites “Dangerous and unmistakable message that…arbitration panels cannot be trusted” SIA COMMENTS ON NTM 01-65: The Securities Industry Association responded, in a letter dated December 31, 2001, to NASD’s request for comment on a proposal to revise its rules and policies on expungement. The letter, signed by SIA SVP and […]
Broad Arbitration Agreement Covers All Accounts by Owner
White v. Salomon Smith Barney, Inc., 2001 Cal. App. LEXIS 2844 (Cal. App., 1Dist., 11/30/01) A broad arbitration provision covering one account of a client may be construed to cover disputes arising in other accounts. The Whites opened ten brokerage accounts with SSB and subsequently brought suit against SSB with […]
Clearing Firm’s Arbitration Agreement Includes Claims Against Introducing Firm
Hirshenson v. Spaccio, Case No. 5D00-2145 (Fla. App., 11/30/01). Appealability – Arbitrability ? Breadth of Agreement ? Scope of Agreement – State Statutes Interpreted (Fla. Stats. Ch. 517) ? State Law, Applicability of. Customer’s fraud claims against introducing broker, including claims under Florida Securities Act, are subject to arbitration under […]
NASD Online Arbitration Filings for Analyst Cases
Analyst Conflict Cases Set for Online Filings at NASD Arbitration Introduction on online system moved up to accomodate analyst cases. [Ed. This was originally posted in 2003 and is presented for historical reference] NASD has submitted a rule revision to the SEC which would amend its claim filing rules to […]
Proposed MSRB Interpretations
Proposed MSRB Interpretations Interpretation of Dealer’s Affirmative Disclosure Obligations Released By John M. Baker, Esq. Feb. 12, 2002 – The Securities and Exchange Commission this week published comment notices for two Municipal Securities Rulemaking Board notices on the responsibilities of dealers to municipal securities customers. The notice published today proposes […]
Court Strikes Confidentiality Provision in Customer Settlement Agreement
Clause preventing customer from speaking to regulators is void as against public policy By John M. Baker, Esq. California Court Rules Confidentiality Clause Invalid In a decision that will surprise few securities lawyers, a California appellate court has refused to enforce a confidentiality clause in a settlement agreement that […]
