News & Articles

Shustak Reynolds & Partners Attorneys Have Again Been Selected as "Best Lawyers" in America

Shustak Reynolds & Partners is pleased to announce that our partners have once again been selected by a nationwide survey of their peers for inclusion in the 2025 31st Edition of Best Lawyers in America©  Read More

Stay Ahead of Uncertainty: How the FTC's New Ban on Non-Compete Provisions Impacts Your Business & Strategies You Can Adopt to Help Prepare for This Major Regulation

The FTC's new rule banning most non-compete provisions, which takes effect September 4, 2024, will materially transform the employment landscape. The rule is a sweeping change affecting most industries and takes effect at the end of the summer.   Read More

Congratulations to our 2024 Super Lawyers Honorees!

Shustak Reynolds & Partners is pleased to announce that six of our attorneys have been selected as Super Lawyers of 2024. Our honorees for 2024 are:  Read More

Recent Amendments to California Business and Professions Code Section 16600: Sharper Teeth for a Potent Statute and a Serious Trap for Unwary Employers

On January 1st, California ushered in a new era of employee freedom by enacting two new bills amending California’s Business and Professions Code §16600 ?? SB 699 and AB 1076. Both laws, which took effect January 1, 2024, significantly reformed California’s public policy and long standing, anti-noncompete law, considered to be one of the broadest, right to compete statutes in the country. At the heart of this transformation lies the novel California Business and Professions Code Section 16600 (“BPC §16600”), originally adopted in 1872 as Civil Code Section 1673.  Read More

Shustak Reynolds & Partners, P.C. Named a "Best Law Firm" for Seventh Consecutive Year

When choosing a law firm, reputation matters – and our reputation speaks for itself. Shustak Reynolds & Partners, P.C. is proud to announce that our firm has been recognized for the seventh year in a row by the 2024 edition of Best Lawyers^® "Best Law Firms" as a Tier 1 firm in San Diego for Financial Services Law. Best Lawyers is known as the global authority in law firm rankings, and only a small percentage of firms nationwide receive this distinction. Firms included in the prestigious “Best Law Firms” tier rankings undergo an extensive evaluation and achieve top ratings from clients and fellow attorneys for their abilities, professionalism and integrity.  Read More

Shustak Reynolds & Partners Attorneys Have Again Been Selected as "Best Lawyers" in America

Shustak Reynolds & Partners is pleased to announce that our partners have once again been selected by a nationwide survey of their peers for inclusion in the 2024 30th Edition of Best Lawyers in America©  Read More

What You Need to Know About FINRA’s New Expungement Rules—The Essentials

FINRA’s amendments to the Code of Arbitration Procedure modifying the Process Relating to Expungement of Customer Dispute Information take effect October 16, 2023. Many registered representatives have, or will have, “dings” on their CRD (Central Registration Depository) records, which have been readily available to the public through FINRA’s online, BrokerCheck portal (https://brokercheck.finra.org/ brokercheck).   Read More

Registered Representative’s Corner: Things to Consider Before Transitioning to a New Firm

During 47 years of experience representing registered representatives through thousands of transitions from one firm to another, and after arbitrating countless hundreds of transition disputes, before the courts and FINRA, there are common reasons why transitions go sideways, embroiling the transitioning individual broker, or team, in an expensive, time-consuming legal dispute rather than focusing on moving over clients and building assets under management.  Read More

Congratulations to our 2023 Super Lawyers Honorees!

Shustak Reynolds & Partners is pleased to announce that six of our attorneys have been selected as Super Lawyers of 2023. Our honorees for 2023 are:  Read More

Is a Federal Ban of Noncompete Agreements on the Horizon?

On January 8, 2023, the Federal Trade Commission (“FTC”) proposed a new, far-reaching rule that prohibits employers from imposing noncompete contracts, or contract clauses, on employees and independent contractors. (Fed. Trade Comm’n, 16 CFR Part 910 - RIN 3084-AB74, Non-Compete Clause Rulemaking, Matter No. P201200 at 1, 115 (January 9, 2023)).   Read More

Shustak Reynolds & Partners, P.C. Named a "Best Law Firm" for Sixth Consecutive Year by U.S. News & World Report – Best Lawyers^®

U.S. News & World Report – Best Lawyers^®" class="articalImage" />When choosing a law firm, reputation matters – and our reputation speaks for itself. Shustak Reynolds & Partners, P.C. is proud to announce that our firm has been recognized for the sixth year in a row by the 2023 edition of U.S. News & World Report – Best Lawyers^® "Best Law Firms" as a Tier 1 firm in San Diego for Financial Services Law. U.S. News is known as the global authority in law firm rankings, and only a small percentage of firms nationwide receive this distinction. Firms included in the prestigious “Best Law Firms” tier rankings undergo an extensive evaluation and achieve top ratings from clients and fellow attorneys for their abilities, professionalism and integrity.  Read More

Partner Paul Reynolds Elected as President of the San Diego Association of Business Trial Lawyers

We are pleased to announce that our partner, Paul Reynolds, has been elected as President of the San Diego chapter of the Association of Business Trial Lawyers for 2023.  Read More

Listen to Erwin Shustak’s Timely Podcast on “Other People’s Money - The Rise of Fraud in the Crypto & NFT Worlds”

Cryptocurrency and NFT’s (non-fungible tokens) are in the news every day, especially during these turbulent economic times. Prices have skyrocketed and, just as quickly, crashed, in the wild, unregulated world of Crypto. While the news is filled with stories of promoters of Crypto and NFTs making fortunes, for every success story there is a corresponding story of great loss and fraud in the unregulated world of these highly touted “investments”.  Read More

Shustak Reynolds & Partners, P.C. Named a "Best Law Firm" for Fifth Consecutive Year by U.S. News & World Report – Best Lawyers^®

U.S. News & World Report – Best Lawyers^®" class="articalImage" />When choosing a law firm, reputation matters – and our reputation speaks for itself. Shustak Reynolds & Partners, P.C. is proud to announce that our firm has been recognized for the fifth year in a row by the 2022 edition of U.S. News & World Report – Best Lawyers^® "Best Law Firms" as a Tier 1 firm in San Diego for Financial Services Law. U.S. News is known as the global authority in law firm rankings, and only a small percentage of firms nationwide receive this distinction. Firms included in the prestigious “Best Law Firms” tier rankings undergo an extensive evaluation and achieve top ratings from clients and fellow attorneys for their abilities, professionalism and integrity.  Read More

Erwin Shustak Featured in San Diego Modern Luxury

Partner Erwin Shustak and our firm were featured in a recent issue of San Diego Modern Luxury in which Erwin was named a “Power Player of 2022”.   Read More

Congratulations to our 2022 Super Lawyers Honorees!

Shustak Reynolds & Partners is pleased to announce that seven of our attorneys have been selected as SuperLawyers of 2022. Our honorees for 2022 are:  Read More

Requirements of New Prohibited Transaction Exemption PTE 2020-02

Investment Advisor Fiduciaries who provide investment advice to either ERISA-covered pension plans, and/or individual retirement accounts (“IRAs”), must protect the interests of their investors and avoid prohibited transactions unless statutory exemptions exist.   Read More

Erwin Shustak & Paul Reynolds Again Named to Best Lawyers in America

We are pleased to announce that partners Erwin Shustak and Paul Reynolds have been selected by a nationwide survey of their peers for inclusion in the 2023 29th Edition of Best Lawyers in America©  Read More

Recent Changes to California Securities Law Add Teeth to Investor Protection Under Cal. Corp. Code Sections 25501 and 25503

Governor Newsom signed A.B. 511 into law on October 7, 2021, amending California’s Corporate Securities Law of 1968 (“California Securities Law”) and adding a powerful recovery arrow to the quivers of aggrieved investors.  Read More

How the SEC’s New Marketing Rule Is Changing the Landscape for Solicitors

The Securities and Exchange Commission recently released a new amendment to Rule 206(4)-1 (the “Marketing Rule”)  Read More

Erwin Shustak & Paul Reynolds Again Named to Best Lawyers in America

We are pleased to announce that partners Erwin Shustak and Paul Reynolds have been selected by a nationwide survey of their peers for inclusion in the 2022 28th Edition of Best Lawyers in America©  Read More

Advisor Transitions: 5 Critical Questions to Answer Before Changing Firms

Recent industry data shows that investment advisor representatives and registered representatives (together, “Advisors”) are transitioning at a record pace in 2021, with thousands of individuals switching firms so far this year.  Read More

Congratulations to our 2021 Super Lawyers Honorees!

Shustak Reynolds & Partners is pleased to announce that seven of our attorneys have been selected as SuperLawyers of 2021. Our honorees for 2021 are:  Read More

FINRA Proposed Rule 4111 Could Mean Major Changes for Some Firms and Big Problems for Some Brokers

So, what is the 411 on Rule 4111? In FINRA’s ongoing quest to protect the public from member firms with a history of misconduct, FINRA has proposed Rule 4111.  Read More

SEC OVERHAULS INVESTMENT ADVISER MARKETING AND SOLICITATION RULES

The Securities and Exchange Commission (SEC) recently amended the Investment Advisers Act of 1940, as amended (the “Advisers Act”) to modernize the rules governing the marketing activities of investment advisers. The previous advertising rule (Rule 206(4)-1 of the Advisers Act), and cash solicitation rule (Rule 206(4)-3 of the Advisers Act), had been updated over time by the SEC solely through a hodgepodge of narrow decisions promulgated via No Action Letters.  Read More

Shustak Reynolds & Partners, P.C. Named a "Best Law Firm" for Fourth Consecutive Year by U.S. News & World Report – Best Lawyers^®

U.S. News & World Report – Best Lawyers^®" class="articalImage" />When choosing a law firm, reputation matters – and our reputation speaks for itself. Shustak Reynolds & Partners, P.C. is proud to announce that our firm has been recognized for the fourth year in a row by the 2021 edition of U.S. News & World Report – Best Lawyers^® "Best Law Firms" as a Tier 1 firm in San Diego for Financial Services Law. U.S. News is known as the global authority in law firm rankings, and only a small percentage of firms nationwide receive this distinction. Firms included in the prestigious “Best Law Firms” tier rankings undergo an extensive evaluation and achieve top ratings from clients and fellow attorneys for their abilities, professionalism and integrity.  Read More

Considerations When Establishing A Private Fund

The creation of a private fund can have several benefits to both investors and the organizer. However, before creating a private fund, multiple rules should be analyzed to determine what types of registrations and/or exemptions apply to the fund and the organizer based on their respective activities. While this article is by no means intended to be an exhaustive list of all such rules and regulations that might apply, at a minimum the following three questions should be examined prior to setting up any private fund.  Read More

Erwin Shustak & Paul Reynolds Named to Best Lawyers in America

We are pleased to announce that partners Erwin Shustak and Paul Reynolds have been selected by a nationwide survey of their peers for inclusion in the 2021 27th Edition of Best Lawyers in America©  Read More

It’s None of FINRA’s Business – Or is it?

Financial advisors registered with the Financial Industry Regulatory Authority (FINRA) generally are well aware of their obligations when engaging in securities activities. But some advisors may not know that FINRA’s jurisdiction extends beyond traditional commission-based transactions, which could render them subject to FINRA investigation. Advisors sometimes mistakenly believe activities they deem “non-securities” or “outside business activities” are none of FINRA’s business. If a financial advisor acts as a “broker”, however, FINRA can enforce jurisdiction over these transactions.  Read More

REGULATION BEST INTEREST SPAWNS ADDITIONAL RULE PROPOSALS

On June 30, 2020, the Securities and Exchange Commission’s (“SEC’s”) Regulation Best Interest (“Reg BI”) became effective. While it’s often referred to singularly, Reg BI shouldn’t be read as just one rule. Rather, Reg BI is part of a package of rules and interpretations that the SEC adopted in an effort to “enhance the quality and transparency of retail investors’ relationship with investment advisers and broker-dealers.”[1] This package includes: (i) Regulation Best Interest – which sets a new standard of conduct for brokers, (ii) Form CRS Relationship Summary – which requires certain disclosure and delivery obligations for brokers and registered advisers,[2] and (iii) two separate interpretations[3] under the Investment Advisers Act of 1940 which, among other things establishes certain standards of conduct for investment advisers.[4]  Read More

BE HONEST - WERE YOU REALLY PREPARED FOR A MASSIVE BUSINESS DISRUPTION? Covid19, the SEC and Financial Professionals

The outbreak of the COVID-19 pandemic, subsequent closures of businesses and mandated “quarantine” laws have had dramatic effects that permeate nearly every facet of our lives.  Read More

Congratulations to SR&P’s 2020 SuperLawyers, including Jonah Toleno, named one of the Top 25 SuperLawyer Women in Southern California

Congratulations to SR&P’s 2020 SuperLawyers, including Jonah Toleno, named one of the Top 25 SuperLawyer Women in Southern California  Read More

Shustak Reynolds & Partners, P.C. Named a "Best Law Firm" By U.S. News & World Report – Best Lawyers^®

U.S. News & World Report – Best Lawyers^®" class="articalImage" />When choosing a law firm, reputation matters – and our reputation speaks for itself. Shustak Reynolds & Partners, P.C. is proud to announce that our firm has been recognized for the third year in a row by the 2020 edition of U.S. News – Best Lawyers^® "Best Law Firms" as a Tier 1 firm in San Diego for Financial Services Law. U.S. News is known as the global authority in law firm rankings, and only a small percentage of firms nationwide receive this distinction. Firms included in the prestigious “Best Law Firm” tier rankings undergo an extensive evaluation and achieve top ratings from clients and fellow attorneys for their abilities, professionalism and integrity.  Read More

Erwin Shustak Named to Best Lawyers in America for Fifth Consecutive Year

Partner Erwin Shustak selected by his peers - for the 5th consecutive year - for inclusion in the 26th Edition of The Best Lawyers in America for his work in Financial Services Regulation Law  Read More

FINRA Arbitration Panel Awards $1.8 Million to Two Former USAA Wealth Advisors Represented by Shustak Reynolds & Partners, P.C.

Shustak Reynolds & Partners, P.C. (www.shufirm.com) announces it won a $1.8 million arbitration award on behalf of two financial advisors who were terminated from USAA Financial Advisors, Inc. in May 2017. Notably, of the $1.8 million, $700,000 was for punitive damages based on USAA’s egregious conduct and $250,000 was for attorneys' fees.  Read More

Our Firm’s Global Reach and Presence Through Our Long Term Affiliation with IR Global

Since 2010, our firm, through partner Erwin Shustak, has been one of the early members of IR Global, through whom we are able to provide our clients with legal and professional coverage across the globe. Erwin is, and for many years, has been a member of IR Global’s International Disputes Committee and an active member of the organization. Read more about IR Global and the Global Dispute Committee of which Erwin is a member.  Read More

Meet our 2019 Super Lawyers!

Meet our 2019 Super Lawyers!  Read More

Shustak Reynolds & Partners, P.C. Recognized By U.S. News – Best Lawyers^® "Best Law Firms" For 2019

When choosing a law firm, reputation matters – and our reputation speaks for itself. Shustak Reynolds & Partners, P.C. is proud to announce that our firm has been recognized for the second year in a row by the 2019 edition of U.S. News – Best Lawyers^® "Best Law Firms" as a Tier 1 firm in San Diego for Financial Services Law. U.S. News is known as the global authority in law firm rankings, and only a small percentage of firms nationwide receive this distinction. Firms included in the prestigious “Best Law Firm” tier rankings undergo an extensive evaluation and achieve top ratings from clients and fellow attorneys for their abilities, professionalism and integrity.  Read More

Financial Advisor IQ - Think It's Hard to Get Records Expunged? Wait Until the New Rules Kick In! Merrill Lynch, Wells Fargo and Other FAs Cry Foul

Read Partner George Miller quoted on the process of disclosure record expungement for financial advisors  Read More

Mandatory FINRA Arbitration: The Beginning of The End or Another False Start?

The Financial Industry Regulatory Authority (FINRA) is a private, non-governmental corporation that acts with the authorization of the Securities and Exchange Commission (SEC) to regulate the U.S. securities industry. Born in 2007 from the merger of the former National Association of Securities Dealers (NASD) and New York Stock Exchange (NYSE) regulatory division, FINRA is now the largest self-regulatory organization in the country. Its stated mission is to protect investors and market integrity through effective and efficient regulation and complementary compliance and technology-based services.   Read More

Daily Journal Names Shustak Reynolds & Partners, P.C. a "Top Boutique" Firm in California -- Read Our Firm Profile

We are pleased to announce that the Los Angeles and San Francisco Daily Journal has named Shustak Reynolds & Partners, P.C. as one of California's "Top Boutique" law firms of 2018. Only 20 firms throughout the state received this prestigious distinction.   Read More

Fund Action: Tech Disruption, Passporting Driving Asia Fund Distribution Changes

Lawyer Erwin Shustak assesses the current landscape and opportunities for fund groups marketing into Asia or thinking about expanding into the region [...]  Read More

Erwin Shustak Selected as One of the Best Lawyers in America for 2019

We are pleased to announce that our partner and firm founder, Erwin Shustak, has been selected by his peers for inclusion in Woodward & White's 25th edition (2019) of Best Lawyers in America®.  Read More

California Looking to Become a Hub for International Arbitrations

Governor Jerry Brown recently signed into law Senate Bill 766 intended to make California a more attractive locale for international arbitrations. While international arbitrations are one of the fastest growing segments of the legal industry, California has not shared in that growth . . .   Read More

Product Liability Law Update - Jim Reynolds Obtains Dismissal of Mesothelioma Asbestos Claim for Client

We are pleased that partner Jim Reynolds obtained a dismissal before trial on behalf of a client sued for negligence and product liability [...]  Read More

Afraid of Being Sued by Morgan Stanley, Merrill Lynch, Wells Fargo or UBS? Here's How to Strike First

The departure of two major wirehouses – Morgan Stanley in November and UBS in December – from the Protocol for Broker Recruiting sent shockwaves through the industry, particularly among advisors contemplating jumping ship and other companies planning to hire from these firms and other broker-dealer firms.  Read More

How to Raise Money Online Under Title II of the Jobs Act

Despite the monumental developments in business and technology that have occurred since the Great Depression, the federal securities laws were not brought into the 21st century until 2012 with the enactment of the Jumpstart Our Business Startups Act (JOBS Act) (Pub L 112-106, 126 Stat 306). The JOBS Act passed with bipartisan support and was signed into law [...]  Read More

Congratulations to Our 2018 Super Lawyers

Congratulations to Our 2018 Super Lawyers [...]  Read More

SR&P Obtains Dismissal of Client in Federal Securities Fraud Class Action in New York

Paul Reynolds and Jessica Mackaness obtained a dismissal of SRP’s client in a federal securities fraud class action pending in New York City [...]  Read More

IR Global Virtual Series with Partner Erwin Shustak - Litigation Funding and International Commercial Disputes

Managing Partner Erwin Shustak recently participated in IR Global's 2018 virtual round table series for the Disputes Working Group, on the subject of Litigation Funding: Handling Commercial and Financial Disputes.  Read More

San Diego County Bar Association Names Partner Jonah Toleno Recipient of 2018 Service Award for Commitment to Diversity

We are proud to announce that our Partner Jonah Toleno is the recipient of the San Diego County Bar Association’s 2018 Service Award for Commitment to Diversity [...]  Read More

OGC and Enforcement at SEC Speaks '18 - Words Matter, Process Matters, Homework Matters

I recently attended SEC Speaks, the Commission’s annual conference in which senior staff from all divisions and offices announce and comment upon key developments from the past year, and set forth coming priorities. [...]  Read More

Managing Partner Erwin Shustak Featured in IR Global Member Spotlight

Erwin Shustak is the founder and Managing Partner of Shustak, Reynolds & Partners. He heads the litigation and arbitration department, with over 40 years of extensive experience in a wide variety of complex disputes and transactions. He specialises in litigations, trials, arbitrations and appeals of complex securities, financial and business disputes, with a particular emphasis in the areas of securities and financial services and regulation law. Few attorneys have the depth and range of his legal experience and judgment.  Read More

Shustak Reynolds & Partners, P.C. Recognized By U.S. News – Best Lawyers^® "Best Law Firms" For 2018

When choosing a law firm, reputation matters – and our reputation speaks for itself. Shustak Reynolds & Partners, P.C. is proud to announce that our firm has been recognized by the 2018 edition of U.S. News – Best Lawyers^® "Best Law Firms" as a Tier 1 firm in San Diego for Financial Services Law. The "Best Law Firms" rankings are based on a rigorous evaluation process, including the collection of numerous client and lawyer evaluations, peer review from leading attorneys in the field and additional information. To be eligible for a ranking, a law firm must have at least one lawyer who is included in Woodward & White’s Best Lawyers list in that particular practice area and region. Managing Partner and firm founder, Erwin Shustak, was recognized in the 24th edition (2018) of Best Lawyers in America^®. This is the second year in a row that Erwin was selected for inclusion in this exclusive list of prominent attorneys. We thank our clients and colleagues for the trust they have placed in our firm and their participation in the ranking and selection process!  Read More

Erwin Shustak Selected as One of the Best Lawyers in America for 2018

We are pleased to announce that our partner and firm founder, Erwin Shustak, has been selected by his peers for inclusion in Woodward & White's 24th edition (2018) of Best Lawyers in America®.  Read More

Trade Secrets in the Securities Industry: Four Key Issues Transitioning Financial Advisors Must Consider

It is a scenario we encounter often. A financial advisor approaches our firm in a panic. While in the midst of transitioning their client accounts to a new firm–a significant undertaking on its own–they are sued for alleged misappropriation of trade secrets.  Read More

Introducing our Newest Team Member - Elizabeth A. Wright, Associate

Shustak Reynolds & Partners welcomes Elizabeth A. Wright as an associate in its San Diego office.  Read More

Introducing our Newest Team Member - Danny Ballon, Associate

Shustak Reynolds & Partners is pleased to announce that Danny Ballon has recently joined the firm as an associate in its San Diego office.  Read More

Meet Our Super Lawyers of 2017!

We are pleased to announce that four of our attorneys have been selected as Super Lawyers for 2017. Partners Erwin Shustak (6th time selected); Jonah Toleno (1st time selected); and George Miller (3rd time selected) were chosen as 2017 Super Lawyers in the field of Securities Litigation. Associate Jessica Mackanass was selected for the first time in the field of Business Litigation.  Read More

Paul Reynolds Addressed the Association of Business Trial Lawyers in Maui

Paul Reynolds was a panelist at the Association of Business Trial Lawyers' annual all-chapter retreat in Maui, HI.  Read More

Meet James J. Reynolds, Our New Partner

Shustak Reynolds & Partners is pleased to announce that James J. Reynolds has joined the firm as a partner in its San Diego office.  Read More

How To Prepare For And Give A Deposition Or Other Testimony - A Time To Be Very Careful And Prepared

In the course of a lawsuit, prior to trial, it is very common for a litigant, or non-party witness, to be called to an attorney’s office to give a Deposition. A Deposition is oral testimony with an attorney asking questions and the deponent (the individual being questioned) answering while a court reporter or tape recorder (or sometimes both) records the testimony.  Read More

Watch Erwin Shustak’s Interview At The 2016 Annual IR Global Conference In Amsterdam

We are proud to be members of IR Global, the fastest growing professional services network in the world. With over 800 members covering 150 jurisdictions, we can offer clients unrivalled global support.  Read More

Dennis Stubblefield’s Radio Interview with LPL Branch Manager Stephen F. Lovell

Our Partner Dennis A. Stubblefield was recently interviewed by LPL Branch Manager Stephen F. Lovell on his weekly radio show, “The Good Life Made Better.” Click here to listen to Dennis talk about pump-and-dump schemes, the top two mistakes made by both advisers and their clients, and knowing when to say “no thanks” to litigation or Finra arbitration.  Read More

Erwin J. Shustak Selected for 23rd Edition of "The Best Lawyers in America"

Erwin J. Shustak, recently was selected by his peers for inclusion in the 23rd Edition of "The Best Lawyers in America" for his work in Financial Services Regulation Law.  Read More

Partner Jonah Toleno Named Finalist for San Diego Magazine's 2016 Woman of the Year Awards

Partner Jonah Toleno has been named a finalist for San Diego Magazine's 2016 Woman of the Year Awards.  Read More

2016 FINE Magazine Poll: Top Rated Commercial / Corporate Lawyer in San Diego

The results are in and we are pleased to announce that our partner, Erwin J. Shustak, has been selected as the best Commercial/Corporate lawyer in San Diego, according to the just-released results of a reader poll by Fine Magazine.  Read More

We Congratulate Our 2016 SuperLawyers

We are pleased to announce that partners Erwin Shustak and George Miller have been selected as SuperLawyers for 2016. Erwin was selected as a SuperLawyer for the 6th time and George as a Rising Star SuperLawyer for the second time.  Read More

Jonah Toleno Re-Elected President of the Filipino American Lawyers of San Diego

Our partner Jonah Toleno was re-elected as 2016 President of the Filipino American Lawyers of San Diego (FALSD).  Read More

Partner George C. Miller Named a FINRA Arbitrator

Partner George Miller recently was appointed to serve as a neutral arbitrator through the Financial Industry Regulatory Authority's (FINRA) Dispute Resolution forum.  Read More

Partner Paul Reynolds Appointed to Board of the San Diego Association of Business Trial Lawyers

Partner Paul Reynolds recently was appointed to the Board of Governors of the San Diego Association of Business Trial Lawyers for a three year term. The ABTL is the premier association for business trial lawyers and members of the San Diego judiciary.  Read More

How Can Firms Insure Against Affinity Fraud?

The short answer is, “Not through any carrier we know.” It is likely that already-stressed broker-dealer professional liability insurance will be found to be either non-responsive or woefully inadequate. However, firms---and we are focusing on independent-contractor broker-dealers---can do a lot to prevent, manage and mitigate the risks of affinity fraud, and other major retail-based threats.  Read More

Transitioning Brokers and the Broker Protocol - What NOT to do When Changing Firms

The Protocol for Broker Recruiting (the "Protocol") was created and adopted by three major wirehouses in 2005- Citigroup Global Markets (Smith Barney), Merrill Lynch and UBS Financial Services- to "further the clients' interest in privacy and freedom of choice in connection with the movement of their Registered Representatives between firms".  Read More

The Impact of FINRA Disciplinary Proceedings on SEC and State Registered Investment Advisers

The number of “dually registered” financial advisers–those who offer both transactional brokerage services through a broker-dealer and investment adviser services through an RIA–are on the rise. These advisers are subject to oversight by both FINRA and the Securities and Exchange Commission (SEC) or state securities regulators.  Read More

An Overview To Private Placement Of Securities

When a company wishes to raise money by offering its securities for sale, whether it’s the in the more typical form of equity securities, or it’s an offering of debt securities, in general that company must make the offering by either registering the securities under the federal and state securities laws, or pursuant to an exemption from those laws.  Read More

SR&P Sponsors Annual IR Global London Conference

We are pleased to have been a proud sponsor of the IR Global Annual Conference that took place in London in late September. Partner Erwin Shustak, a member of IR Global’s Dispute Committee, attended the conference on behalf of the firm.  Read More

Firm Highlight: Partner Paul Reynolds

We are pleased to have Paul rejoin our firm as Partner at our San Diego office. Paul specializes in securities and complex business litigation; civil RICO litigation; FINRA arbitration disputes and defending SEC and FINRA investigations. Paul began his career at the national law firm DLA Piper. To learn more about Paul, read his full biography on our website.  Read More

Trademark Update: The Primary Importance of Secondary Meaning: Attacking Lack of Secondary Meaning on Summary Judgment

“To establish secondary meaning, a manufacturer must show that, in the minds of the public, the primary significance of [the] term is to identify the source of the product rather than the product itself."  Read More

FINRA Broker Expungement Rules - 2015 Update

In the past several years, FINRA, the Securities and Exchange Commission and a number of investor protection groups including PIABA (the Public Investor Arbitration Bar Association) have made a concerted effort to expand and publicize the availability of broker background and CRD records (known as “BrokerCheck”) on the FINRA portal (www.finra.org) and to make the BrokerCheck portal more robust, user friendly and transparent. As a result, more and more of the investing public is aware of, and routinely accesses the BrokerCheck feature on the FINRA web portal to investigate the background of a prospective or existing registered representative. What information appears on a broker’s BrokerCheck, therefore, has become increasingly important to all registered representatives, particularly those with negative disclosure items on their CRD reports, who have an increased desire to seek to expunge some or all of the disclosure items from their CRD and BrokerCheck records.  Read More

The Most Outrageous Investment Advisor Misconduct of 2014

This past year saw investor funds continue to flow into the stock market and the control of the country’s more than 500,000 stockbrokers and investment advisors. While this was another banner year for the stock market, with gains from the S&P above 12%, it was, unfortunately, also a banner year for stockbroker misconduct.

What follows is a list of the most egregious broker/investment advisor stories from this past year. From an advisor charged with stealing from his own mother, to a former Soprano TV star’s spouse charged with penny stock fraud, these cases highlight the downside of financial advisors entrusted with OPM- Other People’s Money.   Read More

George C. Miller Named Shustak Reynolds & Partners’ Newest Partner

We are pleased to announce that our senior associate, George C. Miller, has been named as the firm’s newest Partner. Based in our San Diego office, George’s practice focuses on securities arbitration, litigation and regulatory proceedings and business and employment litigation. Since joining the firm, George has helped recover tens of millions of dollars for the firm’s clients and successfully defended brokerage firms, businesses and individuals against many high stakes, multi-million dollar claims.  Read More

Our Partner Jonah A. Toleno – Incoming President of FALSD

We are pleased to announce that our partner Jonah A. Toleno is the 2015 incoming President of the Filipino American Lawyers of San Diego (FALSD). FALSD is a volunteer-based, non-profit organization dedicated to advancing Filipino American legal professionals and the Asian Pacific American community and providing education, networking and business opportunities for its members. Jonah has served on the FALSD board for the past two years, volunteered with FALSD and other organizations, and mentored young lawyers and law students. We are proud of Jonah’s contributions to the community and support her presidency in the coming year. She will be installed at the 37th Annual FALSD and Pan-Asian American Lawyers of San Diego (PALSD) Dinner on January 29, 2014 at the downtown San Diego Omni Hotel. If you are interested in attending or sponsoring the Annual Dinner, please contact Jonah at [email protected].  Read More

An Overview of Trademark Trial and Appeal Board Opposition Proceedings

The Trademark Trial and Appeal Board (the “TTAB” or the “Board”) is an administrative board for the United States Patent and Trademark Office (the “PTO”) that decides adversary proceedings between two parties involving registration of trademarks with the PTO.
One such adversary proceeding is called an opposition, in which one party (“Opposer”) is able to object to the application of another party ( “Applicant”) for registration of a trademark.[1] In such a proceeding, Opposer will typically allege the application should be rejected in whole or in part due to (1) Opposer’s prior use of its own trademark, and (2) the likelihood of confusion between Applicant’s mark and Opposer’s prior mark.
The focus of this overview is on: (1) the relief the TTAB can grant in an opposition; (2) the procedures for filing and prosecuting / defending an opposition; and (3) the appellate rights from an opposition ruling by the TTAB, as well as the ruling’s effect on subsequent trademark infringement litigation.  Read More

Erwin J. Shustak Named 2014 Top Rated Litigator

We are pleased to announce that Erwin Shustak, Managing Partner of Shustak Reynolds & Partners, was selected as a “2014 Top Rated Litigator” by American Lawyer and Corporate
Counsel magazines. This recognition highlights lawyers who have achieved an AV Preeminent Peer Review Rating by Martindale-Hubbell. Erwin was selected for this prestigious award along with a select few fellow attorneys in San Diego.
"Helping people and companies who have been pushed around or taken advantage of has always been our mission. We level the playing field for our clients. We are never out-lawyered".   Read More

Shustak Reynolds & Partners To Host Upcoming Financial Services Institute Anual Conference in Texas

Shustak Reynolds & Partners is proud to announce it will be a Sustaining Law Firm sponsor for this year’s annual Financial Services Institute's "One Voice" Conference to be held January 26-28 in San Antonio, Texas. FSI is the a national organization formed to serve, and its membership is comprised of retail broker-dealer firms who serve independent contractor registered representatives.
This year's "One Voice" meeting is expected to have over 750 attendees. Shustak Reynolds & Partners, which serves the financial services community, is one of a handful of law firms sponsoring the event.  Read More

Hidden Obamacare Bomb Set to Strike Small Businesses

Think Obamacare doesn’t apply to your small business? Think again.
The hidden bomb lies within the penalties employer health plans face if they do not comply with the “Market Reforms” of the ACA. These rules apply to every employer health plan, regardless of the size of the employer and the penalty is $100 per employee, per day (up to $36,500 per year, per employee).   Read More

Shustak Reynolds & Partners, P.C. Congratulates "Young Attorney" Finalist George C. Miller, Esq.

Shustak Reynolds & Partners, P.C. is pleased to announce that their Senior Associate George C. Miller, Esq. has been named a finalist for the San Diego Daily Transcript’s “Young Attorney” list.  Read More

Fall 2014 FINRA Update: Automated Customer Account Data Collection, Arbitrator Diversity And Higher Arbitration Fees

FINRA’s Account Data Collection System Under Scrutiny In recent years, everyone–from businesses, to government agencies and individuals– has turned to technology to simplify life and streamline the way things are done. Or at least that is the idea behind the Financial Industry Regulatory Authority’s (FINRA) proposed Rule 4540 and “Comprehensive Automated Risk Data System” (CARDS), a massive technology-based initiative that would require brokerage firms to upload detailed account information and trade data to FINRA for computerized, rule-based analysis. FINRA believes the initiative will allow it to more closely supervise brokerage firms, monitor trading activity and detect wrongful or suspicious activity more quickly and less expensively than traditional review methods. Regulators also claim the routine collection of trade data will lessen the burden on firms during FINRA examinations and inquiries.  Read More

Employers: Are You Ready for the Affordable Care Act?

This coming January, the rubber meets the road when it comes to employers having to provide minimum essential health insurance coverage to their full-time employees. At first glance, the final regulations published by the IRS this past February seem serpentine, but they represent a good-faith effort by the IRS to create a workable system for employers to follow in order to comply with the Affordable Care Act (“ACA”). The Act and the Regs lay out what employers must do to follow the law, this article is meant to make certain aspects of the law easier to understand in real-life and suggest some “best practices” to avoid accidental violations.  Read More

Eating “Healthy” – What do ‘Organic,’ ‘GMO-free,’ ‘Vegan,’ and ‘Gluten-Free’ really mean, and who makes the rules?

Americans are becoming more conscious of where their food comes from each passing day. Just recently, in Prop 37, California voters considered requiring labels on food that contained genetically engineered organisms.

Today Organic, GMO-free, Gluten-free, and other ingredient-sensitive terms have joined vegetarianism and veganism as popular lifestyle choices (except for Gluten-free, which is also associated with people suffering from Celiac disease). What do these titles mean? Are labels on food to be trusted? Who makes the rules? This article will provide an overview of each, and hopefully point the reader to primary sources of information and law.   Read More

Representing Clients in SEC Investigations

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Dennis Stubblefield Joins Our Firm – Our Newest Partner

We welcome our new partner, Dennis Stubblefield, to the firm. Dennis, who will head the firm’s Orange County office in Irvine, served nearly seven years with the SEC’s Enforcement Division. His practice will continue to emphasize defense of SEC and FINRA investigations and enforcement actions, broker-dealer and investment adviser compliance and risk management, internal investigations, and representation of broker-dealers and financial services firms and individuals in litigation and arbitration matters.  Read More

$5 Million Arbitration Award We Obtained Against Morgan Stanley for Two Broker Clients Reinstated and Confirmed on Appeal

Although it took almost two years, we are pleased to announce that a $5 million arbitration award we obtained for two firm clients has been confirmed on appeal. On June 30th the California Court of Appeal reversed a lower court and reinstated and confirmed a $5 million arbitration award that a San Diego-based FINRA panel assessed against Morgan Stanley in favor of our clients, two brokers whom Morgan Stanley had recruited from UBS in 2008. In reversing the trial court and confirming the arbitration award, the Court of Appeals overturned the lower court’s order which had vacated the award on the grounds that one of the three arbitrators, industry panelist Barry Kersh, failed to make required disclosures when he was selected as one of the three panelists to hear the case.  Read More

Recent Recognitions of Our Firm

We are pleased to announce that three of our attorneys received the 2014 San Diego Business Journal ”Best of the Bar” Award in several categories: Erwin Shustak – Securities Litigation and Business Litigation; Jonah Toleno – Securities Law and Business Litigation; and George Miller – Securities Arbitration and Business Litigation. From more than 200 attorneys in San Diego, Erwin, Jonah and George were chosen as the most outstanding in San Diego after over 1,000 votes were cast from 146 firms throughout the area. Shustak Reynolds & Partners congratulates Erwin, Jonah and George, and all of the 2014 “Best of the Bar” honorees.   Read More

“We’re in it to win it,” said George C. Miller of Shustak Reynolds & Partners, P.C. – and win it they did!

We are proud to announce that our firm took top honors for cash donated and number of suits collected in the small firm category of LAWSUITS, a cash and professional clothing drive for local law firms organized by Second Chance and Chaired by San Diego District Attorney Bonnie Dumanis. Our firm collected 18 suits and other professional clothing and $500 in cash donations which will be made available to graduates of Second Chance’s job readiness training program. The program helps at-risk youth, the homeless, recovering addicts and former prisoners reenter the community and workforce.  Read More

Crowdfunding Under the JOBS Act: What Investors Need to Know

In April 2012, Congress enacted the “Jumpstart Our Business Startups Act”—or JOBS Act—as part of the federal government’s ongoing efforts to stimulate the economy. The Act was intended to spur small business growth by loosening decades-old rules prohibiting the solicitation and sale of private placement investments to the general public. Through the new “crowdfunding exemption” to the registration requirements of the Securities Act of 1933, Title III of the JOBS Act gives startup companies the go-ahead to raise up to $1 million in investment capital per 12 month period from everyday (e.g., non-accredited) investors.   Read More

Affordable Care Act (“Obamacare”) Compliance of Employers is Tougher Than It Sounds

I recently attended a professional CFO roundtable as a subject matter expert on Obamacare compliance issues for employers. It was an excellent discussion which included CFO’s from firms ranging in size from less than 50 to more than 250 employees.  Read More

Our Partner, Erwin Shustak, Named Top Rated Attorney 2013

We are pleased to announce that our Managing Partner, Erwin J. Shustak, has been selected as one of the Top Commercial Litigation Attorneys of 2013 by Corporate Counsel and The American Lawyer magazines, published by American Legal Media. We are proud that our partner, and our firm, has received this national recognition.   Read More

JESSICA H. ANTONIADES, ESQ. – OUR NEWEST ADDITION

Shustak Reynolds & Partners is pleased to announce that Jessica H. Antoniades has joined the firm as an associate in its San Diego office. Jessica’s practice focuses on civil litigation and arbitration, primarily in the areas of securities fraud and employment disputes. Prior to joining the firm, Jessica practiced civil litigation here in San Diego, representing plaintiffs in personal injury, medical malpractice, and employment matters.
Jessica earned her Bachelor of Arts, cum laude, in Political Science and English from the University of Washington. She then graduated magna cum laude from the University of San Diego School of Law, where she was Executive Editor of the San Diego Law Review. During law school, Jessica also served as a Judicial Extern for the Honorable William Q. Hayes and the Honorable Marilyn L. Huff, both of the United States District Court for the Southern District of California.  Read More

Recent Honors And Recognitions Within Our Firm 2013 Top Rated Lawyers In Securities Law

Erwin J. Shustak, Esq. and Jonah A. Toleno, Esq. have been selected as “2013 Top Rated Lawyers in Securities Law.”  Read More