Financial Adviser Legal Information Center

Featured Books

Securities Law in a Nutshell is an excellent introduction to the United States securities law.

Broker-Dealer Regulation in a Nutshell  is a similar introduction, and while the laws regulating broker-dealers are complex, this book provides an overview of the concepts and regulations.

Investment Adviser Regulation: A Step-by-Step Guide to Compliance and The Law  is an excellent starting point for understanding the regulation of investment advisers.


Recent Blog Posts

FINRA Reverses Hearing Panel Decision and Dismisses Complaint against Sallah Astarita & Cox client.

In an unusual reversal and dismissal, Mark Astarita of Sallah Astarita & Cox, LLC obtained a full reversal of a Hearing Panel decision in an enforcement proceeding which barred his client for life and ordered him to pay $250,000 in restitution, plus 6 years of interest. The case, which was filed by FINRA Enforcement only ...

Morgan Stanley Forcing You Back to the Office?

Maybe it is time to transition or to go independent.  Call the broker transition lawyers at Sallah Astarita & Cox for a free consultation.  212-509-6544  The Securities Law Blog is a service of SECLaw.com, and Mark Astarita, a national securities lawyer with the law firm of Sallah Astarita & Cox, LLC

Regulators Offer Free Resource to Securities Firms to Assist in Addressing Financial Exploitation of Seniors

In recognition of World Elder Abuse Awareness Day, the U.S. Securities and Exchange Commission (SEC), the North American Securities Administrators Association (NASAA), and the Financial Industry Regulatory Authority (FINRA) today announced a new resource… Read the Full Press Release Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544. The Securities Law Blog is a ...

Silicon Valley Insider Trading Ring Charged

The SEC has announced insider trading charges against a Silicon Valley trading ring whose members generated nearly $1.7 million in illegal profits and losses avoided by trading on the confidential earnings information of two local technology companies. According to the SEC’s complaint, Nathaniel Brown, who served as the revenue recognition manager for Infinera Corporation, repeatedly tipped ...

Regulators Offer Resources to Firms to Assist in Detection, Prevention and Reporting of Financial Exploitation of Seniors

In recognition of World Elder Abuse Awareness Day, the U.S. Securities and Exchange Commission (SEC), the North American Securities Administrators Association (NASAA), and the Financial Industry Regulatory Authority (FINRA) today announced a new resource intended to assist securities firms in implementing the training requirements of the Senior Safe Act. The training program, “Addressing and Reporting Financial ...

SEC Charges Issuer With Cybersecurity Disclosure Controls Failures

The Securities and Exchange Commission today announced settled charges against real estate settlement services company First American Financial Corporation for disclosure controls and procedures violations related to a cybersecurity vulnerability that… Read the Full Press Release Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544. The Securities Law Blog is a service of SECLaw.com, ...

Featured Articles

Customer Claims in Arbitration

I have been representing customers and brokers in securities arbitration matters since 1982. In those 35 years I have handled over 700 securities arbitration cases. Since securities arbitration is such ...

Expungement of Customer Complaints

You can remove derogatory reports from your CRD Report. Call 212-509-6544 to discuss the process with a securities law attorney. The problems associated with FINRA‘s CRD Disclosure System are well known ...

Insider Trading – The Legal and Illegal

Illegal insider trading is a serious securities law violation which carries potential civil and criminal penalties. Civilly, the penalties can be as large as three times the gross profit on ...

Introduction to State Securities (Blue Sky) Laws

Mark Astarita, Esq. is a nationally recognized securities attorney who represents investors, financial professionals, issuers and financial firms in a wide variety of matters involving federal and state securities laws. ...

Federal Securities Law, a Securities Lawyer Guide

The SEC, FINRA, the States, and much more Mark J. Astarita is a nationally known securities attorney with over 30 years of experience representing investors and financial professionals across the country ...

Securities Arbitration Hearing Overview

 Just What Happens at an Arbitration? By Mark J. Astarita, Esq. Past columns have touched on arbitration hearings, and have raised the question just what happens during an arbitration hearing. It seems ...

Finders Explained – Be Careful

A question I am often asked is what is the definition of a finder, or questions that lead to that question. The issue arises when an unregistered person or entity ...

Cold Calling Rules

Compliance with securities regulations is only the beginning By Mark J. Astarita, Esq. Introduction Cold calling is a method of marketing a service or product by calling prospective clients “cold” – that is, ...

Churned or Traded?

Mark J. Astarita is a nationally known securities attorney who represents investors and financial professionals in arbitration, compliance and regulatory matters. If you have a question, email him at mja@sallahlaw.com. Churning ...

Responding to an 8210 Request

By Mark J. Astarita, Esq. FINRA Rule 8210 FINRA Rule 8210 (Provision of Information and Testimony and Inspection and Copying of Books) is the starting point of virtually every FINRA Wells Notice ...

Introductory Materials

Introduction to the Federal Securities Laws – written by securities lawyer Mark Astarita, an overview of the federal regulatory scheme for the financial markets. Written for the non-lawyer, with links to more detailed information

Introduction to the Blue Sky Laws (State Securities Laws) – In addition to the Federal Securities Laws, each state has its own securities laws. Those laws vary from state to state, and require registration or notification of securities offerings, and registration of brokers and brokerage firms. Each state has a regulatory agency which administers the law, typically known as the state Securities Commissioner. This introduction provides an overview of the regulatory scheme. A list of state securities commissioners and their addresses is available in our Guide to State Securities Regulators.

Introduction to Securities Arbitration – In general, and in the securities industry, a party cannot be compelled to arbitrate a dispute unless he has contractually bound himself to do so. Registered representatives and their firms are contractually bound to arbitrate their disputes with their customers, even in the absence of a written contract with the customer. The contractual obligation arises, not from a customer agreement, but their registration with FINRA. For customers and financial professionals, an introduction to the process, from start to finish.

Introduction to the Initial Public Offering Process – in the Corporate Finance section, an introduction to the public offering process

Introduction to Private Placements – in addition to public offerings, many companies raise money by selling securities in a private offering. There are many restrictions and caveats to the process.

Introduction to Insider Trading – there is legal insider trading and illegal insider trading. When investors, regardless of their relationship to the company, trade on material, non-public information, there is a risk that the trading is illegal.

Registration of Investment Advisors – one of our featured articles, an introduction to becoming an investment adviser and what you need to know to start an advisory firm

Guide to Broker-Dealer Registration an updated version of the SEC’s original guide is now online.