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
Removing Customer Complaints and Firm Disputes from BrokerCheck
False CRD Disclosures can ruin your practice, if not your career. Call Sallah Astarita & Cox, LLC today at 212-509-6544 to learn if your complaints and termination disclosures can be permanently removed from your CRD report, and BrokerCheck. We have been helping brokers across the country to remove false reports for years. Call now before ...
Can I Take My Client Information When I Leave My Firm?
When changing firms, and moving between two firms that are part of the Broker Recruiting Protocol, can the broker take client account numbers with her.
We get that question a lot. Under the Protocol a broker may take only the client name, address, phone number, email address, and account title of the clients that she serviced ...
SEC Subpoenas – Tips for Responding
How you respond to an SEC
subpoena makes a difference. Tips from an experienced securities attorney.
UBS YES Losses?
Investors who lost money in UBS’ Yield Enhancement Strategy (YES) may be able to recover their losses
Recover GPB Capital Losses
After inquiries by the SEC, FINRA
and the FBI, GPB Capital has announced significant losses in the value of its investment funds. Two of its funds, GPB Holdings II and GPB Automotive Portfolio, have reported losses of 25.4% and 39%, respectively according to InvestmentNews.com
GPB Capital Holdings is a New York based alternative asset management firm with approximately ...
Regulation Best Interest (Regulation BI) Compliance Due June 30, 2020
Compliance with Regulation Best Interest (Regulation BI) and Form CRS is due on June 30, 2020 for all registered broker-dealers and investment advisers.
See Introduction to Regulation Best Interest
Regulation Best Interest at FINRA
Regulation Best Interest (BI) information at the SEC website
Lessons in Zoom meeting safety: Useful tips for advisors and clients during the coronavirus pandemic
The Zoom videoconferencing app has become almost as pervasive as the virus itself; millions of workers, friends and family members now use it daily to communicate in as close to in-person fashion as we can get under the social distancing regime. However, like all technology, there can be some risk. Here are a few simple ...
DOJ Closes Its Senator Insider Trading Investigation, Except for Burr
As we posted last week, the FBI was apparently investigating Senators Loeffler, Feinstein, Inhofe and Burr for possible insider trading
Yesterday it announced that it was closing the investigation of all except Burr. It is important to note that there were probably two investigations going on, one by the FBI and one by the SEC. The ...
Another Whistleblower Award – $18 Million to Whistleblower
The SEC awarded more than $18 million to a whistleblower whose significant information prompted an examination that resulted in an important enforcement action.
The SEC has awarded over $448 million to 81 individuals since issuing its first award in 2012. Whistleblowers may be eligible for an award when they voluntarily provide the SEC with original, timely, ...
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.
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 email@example.com.
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
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.