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Morgan Stanley Loses $34 Million FINRA Arbitration

By Erwin J. Shustak, Esq.  of Shustak Reynolds & Partners, P.C. posted on Wednesday, April 6, 2016.

A California FINRA arbitration panel ordered Morgan Stanley, a branch manager and its former superstar broker, Ami Forte, to pay $34 million to the estate of Roy M. Speer, one of the co-founders of Home Shopping Network, for churning Mr. Speer’s brokerage accounts. […] Read More

California Sues Morgan Stanley Over Unsuitable Mortgage Debt

By Erwin J. Shustak, Esq.  of Shustak Reynolds & Partners, P.C. posted on Monday, April 4, 2016.

On Friday, the state of California sued Morgan Stanley, accusing the bank of hiding the risks of complex mortgage debt and other securities it sold, causing big losses for California’s public pension funds, including CalPERS and CalSTRS. […] Read More

Stanley Sangwon BAE and RGT Capital Management, LTD. - Shustak Reynolds & Partners Investigating Claims Related to His Termination from the Firm and SEC Investigation

By Erwin J. Shustak, Esq.  of Shustak Reynolds & Partners, P.C. posted on Friday, April 1, 2016.

RGT Wealth Advisors, a division of RGT Capital Management, Ltd., with offices in Irvine, California and Texas, terminated Stanley Sangwon Bae, along with Ash Narayan […] Read More

Non-Traded REITs - Great for Brokers, Not for Clients

By Erwin J. Shustak, Esq.  of Shustak Reynolds & Partners, P.C. posted on Wednesday, March 30, 2016.

FINRA, the Financial Industry Regulatory Authority, filed a complaint against VFG Securities, Inc., a small broker-dealer that allegedly generated almost 95% of its annual revenue from selling non-publicly traded REITs and other illiquid investments to its clients. […] Read More

Transitioning Broker Alert - FINRA Adopts New Comp Disclosure Rule

By Erwin J. Shustak, Esq.  of Shustak Reynolds & Partners, P.C. posted on Tuesday, March 29, 2016.

The Securities and Exchange Commission approved last week a new rule proposed by FINRA, the Financial Industry Regulatory Authority, which requires brokers departing one broker dealer for another, to send “educational information” to clients about their move to another firm and the financial compensation and incentives they will receive from the new firm for making the move. […] Read More

SEC Fiduciary Rule Proposal to Potentially Differ from DOL’s

By Jonah A. Toleno, Esq.  of Shustak Reynolds & Partners, P.C. posted on Friday, March 25, 2016.

Calling all financial advisors – time to grab your compasses and brush up on your map-reading skills. […] Read More

Ash Narayan and RGT Capital Management, Ltd. - Shustak Reynolds & Partners is Investigating Claims

By Erwin J. Shustak, Esq.  of Shustak Reynolds & Partners, P.C. posted on Friday, March 25, 2016.

RGT Wealth Advisors, a division of RGT Capital Management, Ltd., with offices in Irvine, California and Texas, terminated Ash Narayan, one of its advisors working out of the Irvine, California office February 17, 2016. […] Read More

Texas Lawyer Sentenced to Jail for Aiding Stock Fraudster

By Erwin J. Shustak, Esq.  of Shustak Reynolds & Partners, P.C. posted on Wednesday, March 16, 2016.

An Austin,Texas attorney was sentenced to 17 years in Federal prison for harboring and concealing a client who was a fugitive in Mexico […] Read More

FINRA Investigations Under Rule 8210

By Erwin J. Shustak, Esq.  of Shustak Reynolds & Partners, P.C. posted on Tuesday, March 15, 2016.

It is every registered person’s nightmare. You receive a letter from a FINRA office notifying you that you are the subject of a FINRA investigation. […] Read More

Proposed FINRA Rule Requires Enhanced Fee Disclosures in Fixed Income Investments

By George C. Miller, Esq.  of Shustak Reynolds & Partners, P.C. posted on Wednesday, March 9, 2016.

In late February, the Financial Industry Regulatory Authority (FINRA) approved a new rule designed to help investors understand the transaction costs associated with certain fixed-income and debt securities. […] Read More