NASD Needs Arbitrators Shortage of Arbitrators in Many Cities By Mark J. Astarita, Esq. The National Association of Securities Dealers has issued a call to arms of sorts – perhaps better called a call to arbs. They need arbitrators in many cities. Although the NASD did not offer an explanation […]
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URL-Y WARNINGS
URL-Y WARNINGS BY MARK J. ASTARITA, ESQ. Early last year, a broker at a major wirehouse posted a Web site providing general market information. The broker’s site was being visited by 1,000 potential customers a day. His firm’s reaction? They shut him down out of fear of the new technology […]
IARD For Investment Advisors Effective 1/1/01
Internet Based Filings, Disclosure, and Public Database Search Effective January 2001 By Mark J. Astarita, Esq. On September 12, 2000 the SEC</div><div class=glossaryItemBody>The United States Securities and Exchange Commission is the federal agency charged with the regulation and oversight of the securities markets, public companies and securities professionals.(…)</div>” href=”https://www.seclaw.com/glossary/sec/” data-gt-translate-attributes='[{“attribute”:”data-cmtooltip”, “format”:”html”}]’>SEC adopted new rules that creat electronic filing requirements for investment advisors. Beginning in January 2001, advisers registered with the Commission will submit their registration forms (and other filings) […]
Hedge Fund Creation, Regulation and Compliance
By Mark J. Astarita, Esq. In its most expansive definition, a seclaw.com/glossary/hedge-fund/” data-gt-translate-attributes='[{“attribute”:”data-cmtooltip”, “format”:”html”}]’>hedge fund is a private investment fund, usually structured as limited partnership, managed by the general partner who makes the investment decisions and collects a management and incentive fee. The investors in the fund are the limited partners, who […]
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 […]
Settling the Matter
More brokers and firms are being forced to settle customer claims, particularly where the claim is less than the total arbitration expense. Settling the Matter By Mark J. Astarita, Esq. In June, we addressed how to avoid customer disputes. This month, we jump ahead to how to resolve them, either […]
The Securities Law Letter
The Securities Law Letter is a monthly email newsletter, containing the latest news, commentary, rule proposals and amendments, as well as press releases and other web based information of interest to those who are interested in the United States Securities Laws. The Securities Law Letter is free, but we need […]
U-4 Arbitration Agreement Does Not Supercede Eariler, Broader Agreement
Bailey vs. Chase Securities, Inc., et al, 01-Civ-7222 (AGS), 2002 U.S. Dist. LEXIS 7788 (SDNY 5/1/02) Employment Discrimination * ADEA * SRO Rules (NASD Rule 10201) * Consolidation Issues (Bifurcation) * Arbitration Agreement (Form U-4) * Employment Agreement * Competing Agreements * Waiver * Prejudice to Party. The Form U-4 […]
Stay of Non Arbitrable Claims is Discretionary
Stay of Non-Arbitrable Claims is Discretionary Where Arbitrable Claims Exist Baggesen vs. American Skandia Life Assurance Corp. Baggesen v. American Skandia Life Assurance Corp. & Securities America, Inc., 2002 U.S. Dist. LEXIS 23411 (D. Mass, 12/5/02). FAA (§ 3) * Agreement to Arbitrate * Stay of Litigation * Scope of […]
SEC Approves Injunctive Relief Rule
New Mechanism for Resolution of Raiding Disputes Approved Rule 10335 makes permanent, with some significant modifications, a formal mechanism for the resolution of raiding disputes, under a NASD Rule approved by the Securities and Exchange Commission. Former Rule 10335, designed as a one-year pilot in 1996 and taken out of […]
