When the Securities and Exchange Commission enacted a new procedure for financing by small corporations, known as the Small Corporate Offering Registration (SCOR), it was designed to help small corporations raise capital. In essence, it is a procedure designed by the SEC to enable smaller companies to raise capital, by […]
Compliance
SEC Deferred Prosecution Agreement
Sample Deferred Prosecution Agreement from the SEC Deferred Prosecution Agreements – where a wrongdoer agrees to cooperate with the government, and the government agrees not to prosecute the wrongdoer – are the stuff that television police shows are made of. We don’t see them too often in our securities defense […]
Registration of Investment Advisers
What you need to know to start an investment advisory firm. By Mark J. Astarita, Esq. Entities and individuals who provide investment advice to others are subject to regulation by federal and state regulators. Before providing any type of financial advise to anyone, prospective advisers must determine what the regulatory […]
WebCRD Stops Hard Copy CE Notices
Firms must check the site themselves – Notice to Members 00-35 By Mark J. Astarita, Esq. NASD Notice to Members 00-35 NASD Regulation Reminds Firms Of CRD Continuing Education Notification Method And Informs Firms To Review Written Supervisory Procedures NASD firms are reminded that the Web CRD no longer […]
NASD Seeks Member Input on Rule Changes
NTM 02-10 Seeks Comment on Streamlining and Eliminating Certain Rules Simplifying, or even removing, regulations in this industry is a goal that every registrant will be happy to hear about. Earlier last year the NASD has announced that it is conducting a comprehensive review of its rules to ensure […]
NAC Upholds Due Process
NASD Adjudicatory Council Strikes Case Because of Delays Follows SEC Lead in Upholding Rights to Due Process and Fundamental Fairness after 7-year delay in commencing proceedings. By Mark J. Astarita, Esq. Delays by regulators in bringing enforcement actions is a recurring problem for brokers and firms, as well as their […]
NASD NAC Upholds Due Process Strikes Case because of delays
Follows SEC Lead in Upholding Rights to Due Process and Fundamental Fairness after 7 year delay in commencing proceedings. By Mark J. Astarita, Esq. Delays by regulators in bringing enforcement actions is a recurring problem for brokers and firms, as well as their defense counsel. As those of us who […]
Finders Explained – Be Careful
A question I am often asked is what is the definition of a finder, or questions that lead to that question. The issue arises when an unregistered person or entity introduces investors to an issuer and seeks to obtain payment based on the investment made by the investor. The problem […]
Everyone Does It Defense Falls Short.
Even coupled with the ever popular “I didn’t know it was a crime” defense, an Investment Advisor loses. Lessons in securities regulation for the self-help minded. By Mark J. Astarita, Esq. Too often I hear clients, or more appropriately, potential clients, explain to me that they did not use […]
Email Pump and Dump Scams Revealed
SEC Cracks Down on Email Pump and Dumps Seven Actions Against 31 Defendants For Violations in Connection with Email and Website Stock Promotions By Mark J. Astarita, Esq. For those of you who are tempted to follow the “investment advice” that you receive in emails, or that you find on […]
