Washington D.C., Jan. 16, 2024 – The Securities and Exchange Commission (SEC) has taken action against J.P. Morgan Securities LLC for their alleged hindrance of clients from reporting potential securities law violations. SEC Charges J.P. Morgan The SEC has officially charged J.P. Morgan with impeding numerous advisory clients and brokerage […]
Brokers
Commentary, news and links of interest to financial advisers.
Forms in Need of Reform
Proposed NASD Rules Will Allow Allegations Against Brokers to be Made Public By Mark J. Astarita, Esq. Note: This column was originally published in 1997 in Research Magazine. Unfortunately, nothing changed, and in fact, the situation has gotten worse. If you have questions about your U-4 or U-5 filings, please […]
Still Think Settling with the SEC is the Right Move?
By: Mark J. Astarita, Esq. In the article linked below, the authors believe that the landscape of SEC enforcement is changing. According to this article, entities and individuals facing SEC actions are winning, or not losing as much. Of course, the examples in the article are purely anecdotal, and there […]
9 Proven Strategies for Defending an SEC Investigation
Defending an SEC Investigaton Facing an SEC investigation can be a daunting challenge for any individual or organization and defending an SEC investigation takes experience and knowledge. The SEC is a formidable regulatory body with the authority to scrutinize financial activities, and being prepared for such an inquiry is crucial. […]
Defending FINRA Investigations
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 enforcement proceeding, as it gives FINRA the authority to request documents and testimony from firms, registered persons and, in FINRA’s […]
SEC 2024 Examination Priorities for Broker-Dealers
The SEC‘s Division of Examinations prioritizes examinations of certain practices, products, and services that it believes present potentially heightened risks to investors or the integrity of the U.S. capital markets. They have announced the 2024 examination priorities. Here is a summary of the Broker-Dealer priorities for 2024. We summarized the […]
Attorney for Broker Transitions – The Recruiting Protocol
Just about every securities broker is aware of the existence of the Protocol for Broker Recruiting (the “Broker Protocol”). Unfortunately, too many brokers think they understand the Protocol, and move forward with a transition without the assistance of experienced counsel. That leads to a motion for an injunction in court, with a […]
Enhancing Investor Education and Protection in World Investor Week 2023
Introduction The Securities and Exchange Commission (SEC) has announced its commitment to emphasizing the significance of investor education and protection during the World Investor Week (WIW) 2023, which is scheduled from October 2nd to October 8th. The ever-evolving landscape of technologies and digital tools has revolutionized the investment landscape, making […]
Hire a Securities Defense Attorney to Respond to an SEC Subpoena
Facing a subpoena can be a daunting experience for individuals and businesses involved in securities-related matters. The SEC wields substantial authority to investigate potential violations of securities laws, and responding to a subpoena demands a keen understanding of the legal process and regulations. However, I often see individuals who decide […]
SEC Proposes Rule Amendments to the Broker-Dealer Customer Protection Rule
July 12, 2023 —The SEC has proposed amendments to Rule 15c3-3 (the Customer Protection Rule) to require certain broker-dealers to increase the frequency with which they perform computations of the net cash they owe to customers and other broker-dealers (known as PAB account holders) from weekly to daily. Net cash […]