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FINRA Enhances BrokerCheck System
By George Miller of Shustak Reynolds & Partners, P.C. posted on Thursday, June 7, 2012.
The Financial Industry Regulatory Authority (FINRA) recently re-vamped its online BrokerCheck portal to help users more easily access disclosure information concerning investment advisers. Where the old system only displayed BrokerCheck reports, the new system, where applicable, also displays the Investment Adviser Public […] Read More
SEC Charges Absolute Fund Advisors With Operating “Ponzi-like” Scheme
By George Miller of Shustak Reynolds & Partners, P.C. posted on Monday, June 4, 2012.
the SEC filed a Complaint in the U.S. District Court for the Southern District of New York against Absolute Fund Advisors, LLC, Absolute Fund Management, LLC and Jason J. Konior seeking an injunction preventing the defendants from operating a “Ponzi-like” scheme […] Read More
FINRA-Schwab Fight Over Class Action Waivers is Ongoing
By George Miller of Shustak Reynolds & Partners, P.C. posted on Friday, February 24, 2012.
In early February, FINRA initiated disciplinary proceedings against Charles Schwab & Co. claiming the firm violated FINRA rules by requiring its customers to sign account documents containing broad “class action waivers.” FINRA claims Schwab amended its customer agreements in October 2011 […] Read More
Top Ten Unsuitable Investments to Watch Out For
By SHUSTAK REYNOLDS & PARTNERS of Shustak Reynolds & Partners, P.C. posted on Monday, February 6, 2012.
These are the Top Ten Unsuitable Securities Investments to Watch Out For during 2012, as compiled by FINRA. For most investors, these investments may be unsuitable; complex; very risky and not easily understood: 1. Private Placements- Risks- highly illiquid; minimal disclosure; […] Read More
FINRA Cautions Against Chasing High Yields In A Low Rate Environment
By George Miller of Shustak Reynolds & Partners, P.C. posted on Thursday, February 2, 2012.
In January, the Federal Reserve announced it will keep interest rates low until at least late 2014 in a continued effort to buttress the fledgling economic recovery. In what has become a market dominated by low interest rates, yields on Treasuries also […] Read More
Merrill Lynch Pays the Piper for Failing to Arbitrate Promissory Note Disputes
By George Miller of Shustak Reynolds & Partners, P.C. posted on Thursday, January 26, 2012.
As the latest in a series of large fines levied against the nation’s few remaining wirehouse firms in early 2012, FINRA announced on Wednesday, January 25, that it fined Merill Lynch, Pierce, Fenner & Smith $1 million for refusing to arbitrate promissory […] Read More
FINRA Fines Citigroup $725,000 for Failure to Disclose Conflicts of Interest
By George Miller of Shustak Reynolds & Partners, P.C. posted on Thursday, January 19, 2012.
FINRA started the new year off by levying a $725,000.00 fine against Citigroup Global Markets, Inc., for failing to disclose potential conflicts of interest in certain research reports the firm published from January 2007 through March 2010. According to FINRA, Citigroup (a) […] Read More
San Diego’s “Investment Placement Group” Pays $4 Million to Settle SEC Charges
By George Miller of Shustak Reynolds & Partners, P.C. posted on Tuesday, January 3, 2012.
Investment Placement Group (IPG), an independent brokerage firm headquartered in downtown San Diego, agreed in late December to pay the Securities and Exchange Commission (SEC) approximately $4 million in penalties to settle charges that the firm failed to supervise Aurelio Rodriguez, one […] Read More
Welcome to our San Diego, California and New York, New York securities law blog
By of Shustak Reynolds & Partners, P.C. posted on Friday, December 23, 2011.
We established this blog to share stories and information about topics relevant to our practice. Our intent is to highlight local stories, as well as national subject matter, that we think you will find interesting. We will regularly update this blog and encourage […] Read More
Consumer Victory In New York Appellate Court Decision
By Tom Frost of Shustak Reynolds & Partners, P.C. posted on Tuesday, December 20, 2011.
The New York Court of Appeals handed a significant consumer victory to investors and current Attorney General Eric T. Schneiderman in its December 20, 2011 ruling in Assured Guaranty (UK) Ltd., v. JP Morgan Investment Management, Inc. The Court’s decision decided the frequently […] Read More