The Securities and Exchange Commission today announced charges against Virginia-based Boon.Tech and its chief executive officer Rajesh Pavithran for fraud and registration violations in connection with a $5 million initial coin offering (ICO) of digital asset securities. According to the SEC’s order, from November 2017 to January 2018, Boon.Tech and […]
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FINRA Postpones All Arbitrations
FINRA has decided to administratively postpone all in-person arbitration and mediation proceedings scheduled through May 1, 2020. If you have an in-person hearing or mediation session that is postponed as a result of this decision, you will be contacted by FINRA staff to reschedule or discuss remote scheduling options. Please […]
New SEC Whistleblower Awards
The SEC whistleblower program has generated significant awards to individuals who provide original information that leads to successful SEC enforcement actions with total monetary sanctions exceeding $1 million. The program has resulted in more than $2 billion in financial penalties, and awards in excess of $300 million. The SEC just […]
$63 Million for Investors in Real Estate Investment Fraud
Robert C. Morgan, a New York residential and commercial real estate developer, and two of his entities, Morgan Mezzanine Fund Manager LLC and Morgan Acquisitions LLC, engaged in a fraudulent real estate investment scheme. As alleged, Morgan financed his real estate development projects through, among other ways, the sales of […]
Keeping Wealth in the Family
To help preserve their legacies, families increasingly turn to family offices tasked with maintaining multigenerational wealth. According to the UBS 2019 Global Family Office Report, there are 7,300 single family offices worldwide today — a number that has increased 38% since 2017. In the United States, UBS counts 3,100 family offices, […]
Can I Take My Client Information When I Leave My Firm?
When changing firms, and moving between two firms that are part of the Broker Recruiting Protocol, can the broker take client account numbers with her. We get that question a lot. Under the Protocol a broker may take only the client name, address, phone number, email address, and account title […]
Securities Lawyer, Attorney
Mark J. Astarita is nationally recognized securities attorney, admitted to practice law before all state and federal courts in the States of New York and New Jersey as well as the United States Supreme Court. Mr. Astarita graduated cum laude from New York Law School and has practiced law primarily as a […]
Advisors Paying More for Compliance
RIAs and broker/dealers say they are spending 9 percent more money — and a lot more time — on compliance and regulatory issues. Source: Advisors Paying More for Compliance
Privacy Policy
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How Banks Are Losing Clients to Their Own Employees – Bloomberg
Morgan Stanley could do little but watch as a team of advisers overseeing $2.2 billion in assets quit last month to start their own shop, the latest in a string of departures that have shifted billions of dollars in assets away from big Wall Street banks.After months of secret and […]
