Failing to Stop Wash Sales and Matched Orders Leads to Disciplinary Proceedings By John M. Baker, Esq. The U.S. Court of Appeals for the D.C. Circuit on Friday affirmed an SEC order finding a registered representative and her supervisor responsible for a customer’s improper trades. Graham v. SEC, No. 99- […]
Brokers
Commentary, news and links of interest to financial advisers.
Suitability and Whisper Numbers under Attack
New Proposals for a New Millennium – Suitability and Whisper Numbers Mark J. Astarita The end of the millennium has further demonstrated the changes that are in store for the brokerage industry in the start of the new millennium. Last month I took a look forward, but since writing that […]
Day Trading Rules for Firms that Promote Day Trading
And unfortunately, for those who don’t – NASD Rules 2360 and 2361 By Mark J. Astarita, Esq. The NASD has announced that as of October 16, 2000, any NASD member firm that is promoting a day-trading strategy will be required to furnish a risk disclosure statement to a non-institutional customer […]
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 […]
Death of a Salesman?
Securities law resources, including all rules, and regulations from the NASD, NYSE and SEC, with expert commentary from securities attorneys and legal professionals.
Liar, Liar?
Misrepresentation cases in securities arbitration By Mark J. Astarita, Esq. This is one of Mark’s original columns from September 1996 in Research Magazine. It has been updated since then, most recently in June of 2021. The reality is…not much has changed. Misrepresentation claims are one of the most common claims […]
