By Mark J. Astarita, Esq. On August 1, 2000, the SEC approved rule changes proposed by the NASD that amend the NASD Code of Procedure (the Code) and other provisions. The changes include provisions to: set forth more clearly the Department of Market Regulation’s role in disciplinary proceedings; clarify the […]
Brokers
Commentary, news and links of interest to financial advisers.
NASD Release on Unregistered Persons and Client Contact
NTM 00-50 Drops 1998 Proposal, Re-affirms NTM 88-50 By John M. Baker, Esq. The NASD posted a Notice to Members concerning marketing activities and supervision of unregistered persons. NASD Notice to Members 00-50 (August 2000). The Notice withdraws a pending rule proposal and provides guidance on the activities of unregistered […]
Internet Touting – SEC Seeks Cease and Desist Order
Cease and Desist Order Sought Against Internet Investor Relations Firm and its President On February 24, 1999 the SEC issued an order to institute cease-and-desist proceedings against a Minnesota-based investor relations company, alleging that it and its president violated the anti-touting provision of the Securities Act of 1933 by publishing […]
SEC Files Complaint against Internet Newsletter
By Mark J. Astarita, Esq. October 27, 1998 – The SEC announced the filing of a complaint in the U.S. District Court for the Northern District of Texas seeking a permanent injunction and civil penalty against the author of an investment newsletter which was published on the Internet. The complaint […]
Forms in Need of Reform
Proposed NASD Rules Will Allow Allegations Against Brokers to be Made Public By Mark J. Astarita, Esq. Some of you may recall my column from October, 1996, “The SEC’s Bad Form”, which addressed changes that the NASD proposed, and SEC approved, to Forms U-4 and U-5. The changes caused serious […]
