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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
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