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Contractual Compliance & Compensation Relationships Between RIAs and Clients
By of Shustak Reynolds & Partners, P.C. posted on Monday, August 4, 2014.
The SEC holds Registered Investment Advisers (RIA’s) accountable to the highest standards for the advice they provide in exchange for the right to receive compensation for that advice. The employees of a given RIA are actually called Investment Adviser Representatives (IAR’s). Compliance Issues Over the last several years the SEC and Finra have begun to […] Read More
Affordable Care Act Update
By John H. Barkley, Esq of Shustak Reynolds & Partners, P.C. posted on Tuesday, July 29, 2014.
Affordable Care Act Update: IRS publishes figures and methods regarding Individual Mandate penalties. One of the key components of the Patient Protection and Affordable Care act is the requirement that every individual have minimum essential coverage from some form of health insurance. […] Read More
Does A Brokerage Firm Really Need An Attorney?
By of Shustak Reynolds & Partners, P.C. posted on Tuesday, July 22, 2014.
"I hate weekends because there is no stock market." Renee Rivkin Renee Walter Rivkin should have enjoyed the weekends more. Born June 6, 1944, and studied law at the University of Sydney, Rivkin became the youngest member ever of the Sydney Stock Exchange. Over his 30-year career, he developed into a well-known stockbroker and entrepreneur […] Read More
Merrill Lynch To Phase Out Legacy Technology Platforms By 2015
By George C. Miller, Esq. of Shustak Reynolds & Partners, P.C. posted on Wednesday, July 16, 2014.
By the end of 2015, Merrill Lynch plans to have completed its rollout and integration of the Merrill Lynch “One” Technology Platform. The new platform, first introduced in 2013, combines five separate platforms–including Consults, Mutual Fund Adviser (MFA), Personal Adviser (MLPA), Personal Investment […] Read More
How Do Ponzi Schemes Work?
By of Shustak Reynolds & Partners, P.C. posted on Monday, July 7, 2014.
The 1920’s were roaring and just on the cusp of the communication age. The United States Postal Service was at the forefront of connectivity, especially across the pond. If you were generous and mailed a letter overseas, you might include an international reply coupon, a voucher that paid the required postage to send a response. […] Read More
$5 Million Arbitration Award Against Morgan Stanley Obtained By Shustak Reynolds & Partners, P.C. Confirmed On Appeal
By George C. Miller, Esq. of Shustak Reynolds & Partners, P.C. posted on Thursday, July 3, 2014.
On June 30, 2014, a California appellate court reinstated and confirmed a $5 million arbitration award Shustak Reynolds & Partners had obtained against Morgan Stanley in favor of two brokers Morgan Stanley had recruited from UBS. The appellate court overturned a lower court’s order […] Read More
FINRA Rule Would Prohibit Settlement Conditioned On Agreement Not To Oppose Expungement
By George Miller of Shustak Reynolds & Partners, P.C. posted on Monday, March 3, 2014.
The Financial Industry Regulatory Authority (FINRA) recently announced a new proposed rule that would prohibit member firms and registered representatives from conditioning settlement on, or otherwise compensating customers for, an agreement not to oppose expungement requests. According to FINRA, the proposed rule will help preserve the integrity […] Read More
FINRA Sanctions Berthel Fisher for Compliance Failures
By Jessica Antoniades of Shustak Reynolds & Partners, P.C. posted on Wednesday, February 26, 2014.
The Financial Industry Regulatory Authority (FINRA) recently fined the independent broker-dealer Berthel Fisher & Co. Financial Services Inc. and one of its affiliates $775,000 for compliance failures. According to FINRA, Berthel Fisher failed to supervise the sale of alternative investments, including non-traded real estate investment trusts (REITs) […] Read More
Owners of Pacific Property Assets/Apartments America Charged With Fraud
By George Miller of Shustak Reynolds & Partners, P.C. posted on Friday, February 7, 2014.
The FBI recently indicted Michael Stewart of Phoenix, Arizona, and John Packard, of Long Beach, California, for allegedly operating a massive real estate ponzi scheme fraud through their companies, Pacific Property Assets (PPA) and Apartments America, LLC (AA). According to the SEC, which previously brought civil […] Read More
San Francisco Art Dealers Implicated in $3.4 Million Ponzi Scheme
By George Miller of Shustak Reynolds & Partners, P.C. posted on Monday, January 27, 2014.
The FBI recently announced a 12-count federal indictment against Anthony Barreiro and Ernest Ray Parker, a/k/a Ray Parker Gaylord, two art dealers who reside in San Francisco and Dallas. The indictment alleges that Barreiro and Parker operated a Ponzi scheme fraud through several phony businesses, including ARTLoan Financial […] Read More