The stock market has many different regulators. The primary regulator is the Securities and Exchange Commission. The stock exchanges are governed by their own organizations, under the direction of the SEC. Stock brokers and brokerage firms are regulated by the Financial Industry Regulatory Authority (FINRA) which was formerly known as […]
Law
This archive contains all of the articles, posts and links at the site in the Law category.
Investment Advisers Act of 1940
The Investment Adviser Act of 1940 is the statute that provides the regulations for the registration and oversight of individuals and corporations who are not brokers or dealers, but who provide investment advice to the public. Need more information? The Investment Advisers Act of 1940 Rules and Regulations under the […]
Federal Securities Law, a Securities Lawyer Guide
Introduction to 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. He can be reached at mja@sallahlaw.com. The state securities laws and the regulatory scheme has not changed much since 2001 […]
Securities Law Information Center
Welcome to the Securities Law Information Center, where we bring together our articles and commentary with relevant links to the rules, regulations, and statutes that comprise the United States Securities laws. Curated by Mark J. Astarita, Esq. Featured Securities Law Books: The Securities Enforcement Manual, Second Edition: Tactics and Strategies […]
Customer Not Beneficiary of Clearing Agreement
Customer Not Beneficiary of Clearing Agreement Hossain vs. Rauscher Pierce Refsnes Hossain v. Rauscher Pierce Refsnes, Inc., Case No. 97-1380 (D. Kan., 5/15/00): A customer of an introducing broker is not a third party beneficiary of a clearing agreement between an introducing and clearing broker. Hossain claimed to be a […]
Outsiders as RICO conspirators
Archives Securities Case Briefs: Outsiders as RICO conspirators Brouwer vs. Raffensperger, Hughes & Co. Brouwer v. Raffensperger, Hughes & Co., 199 F.3d 961 (7th Cir., 1/13/00): This case concerns the limitations under the federal RICO statute on liability of an underwriter and a law firm that assisted in note financings […]
Qualified Immunity for NASD
Federal Court Finds Immunity for NASD Staff and State Investigators Tretiak v. Del Papa, No. 00-17248, 2001 U.S. App. LEXIS 24738 (9th Cir., 11/13/01). Enforcement Practice/Procedure – Privileges & Immunities (Absolute Immunity; Qualified Immunity) – Representation Issues – Timeliness Issues (Statutes of Limitations). Regulators have qualified immunity against claims based […]
Manifest Disregard of the Law Again
Failure to Provide Citations in Award Explanation Is Not Evidence of Manifest Disregard of the Law BUNZL DISTRIBUTION v. DEWBERRY, No. 00-2325 (8th Cir., 6/11/01): Claims of manifest disregard, based upon an alleged failure to apply applicable law, will not be presumed by an omission to cite the law. The […]
Manifest Disregard Requires Knowledge and Decision to Ignore
Manifest Disregard Means Knowledge of, and Decision to Ignore, the Law Rosenbaum vs. Imperial Capital, LLC and Rich, 2001 US Dist. LEXIS 17577 (D. Md., 10/29/01) Rosenbaum was a customer of Imperial, a broker-dealer. Rich, an RR at Imperial handled the account. In September of 1997, Rich solicited the purchase […]
