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SEC Halts Ash Narayan from Defrauding RGT Clients

By Erwin J. Shustak of Shustak Reynolds & Partners, P.C. posted on Tuesday, June 21, 2016.

The Securities and Exchange Commission (“SEC”) announced that it obtained a court ordered “freeze” of the assets of three individuals, including Ash Narayan, formerly of RGT Wealth Advisors, who, the SEC alleges, siphoned millions of dollars from the accounts he managed at RGT for professional athletes and others while he was the manager of RGT Wealth Advisor’s Orange County, California office. [...] Read More

It's the Culture, Stupid, Part II

By Dennis Stubblefield of Shustak Reynolds & Partners, P.C. posted on Friday, May 27, 2016.

FINRA CEO Rick Ketchum just delivered what will undoubtedly be his swan song to the industry (he will likely step down later this year). [...] Read More

The Defend Trade Secrets Act: A Powerful New Tool For Business Owners

By Katherine S. DiDonato of Shustak Reynolds & Partners, P.C. posted on Thursday, May 19, 2016.

President Obama recently signed into law the Defend Trade Secrets Act (“DTSA”) of 2016, which gives holders of trade secrets a new and powerful option to bring trade secret lawsuits under federal law. [...] Read More

FINRA Submits Proposed Rule Changes To Clarify Offsetting Awards (SR-FINRA-2016-015)

By Jessica L. Mackaness of Shustak Reynolds & Partners, P.C. posted on Tuesday, May 10, 2016.

FINRA has recently filed proposed rule changes that provide much-needed clarification to how arbitration awards resulting in both sides paying money should be handled. [...] Read More

Morgan Stanley Rep Won’t Pay A Dime Of $34 Million Arbitration Award

By George C. Miller, Esq.  of Shustak Reynolds & Partners, P.C. posted on Friday, April 29, 2016.

Earlier this month, we blogged about a recent $34 million arbitration award entered against Morgan Stanley and its former representative, Ami Forte, for engaging in unauthorized trading and churning brokerage accounts belonging to Roy M. Speer. [...] Read More

DOL’S Final Fiduciary Standard Rule – What's in Store for Financial Professionals?

By Jonah A. Toleno, Esq.  of Shustak Reynolds & Partners, P.C. posted on Wednesday, April 20, 2016.

The U.S. Department of Labor has at last issued the final version of its highly-debated “Fiduciary Rule”. The full text of the Rule, available at the Department of Labor’s website [...] Read More

Ticket Reserve, FirstDIBZ, Panera Bread and RGT Wealth Advisors: Shustak Reynolds & Partners Investigating Potential Claims for Current or Former RGT Wealth Advisor Clients

By Erwin J. Shustak, Esq.  of Shustak Reynolds & Partners, P.C. posted on Thursday, April 14, 2016.

Shustak Reynolds & Partners, P.C., a San Diego based law firm focused in the areas of financial and securities law, is investigating potential claims of current and former clients of RGT Wealth Advisors involving investments that were recommended by former RGT Wealth Advisors Stanley Sangwon Bae and Ash Narayan [...] Read More

Morgan Stanley Defeats Financial Advisor Overtime Class Action

By George C Miller, Esq.  of Shustak Reynolds & Partners, P.C. posted on Wednesday, April 13, 2016.

On Monday, District Court Judge William J. Martini of the Third Circuit declined to certify a class action brought by a group of […] Read More

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