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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
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