The NASD May Soon Protect Investors at Broker’s Expense By Mark J. Astarita, Esq. This time the National Association of Securities Dealers (NASD) has gone too far. On November 27, 1996, the association proposed to make full disclosure of the entire contents of the disciplinary and litigation section of a […]
News
Appellate Court Strikes Hedge Fund Registration Rule
Rule Determined to be Arbitrary, Sent Back to SEC By Mark J. Astarita, Esq. In a decision issued on June 23, 2006, the United States Court of Appeals for the DC Circuit has thrown out the SEC’s controversial rule requiring the registration of hedge funds. The SEC’s rule, which […]
Customer Ratifies Unauthorized trades
Ratifies Unauthorized Transactions by Failure to Object John Dawson & Associates, NDIll Bankruptcy Court John Dawson & Assoc., Inc., In Re, Adversary No. 99 A 00536 (N.D. Ill. Bankr., 1/16/03). Bankruptcy/Insolvency Issues * Ratification * Unauthorized Trading * Statutory Definitions (“Conversion”) * SIPA. SIPC claim is disallowed due to ratification […]
Doing Business Abroad
Making sure your overseas business complies with foreign as well as US laws By Mark J. Astarita, Esq. We all know that the Internet has made the world smaller, and opened numerous opportunities for various businesses to conduct business with persons and entities residing in foreign countries. With those opportunities […]
FAA Preempts State Arbitration Code
]]> Home | Message Board Home Search Arbitration Investors Brokers Finance Law Compliance Archives FAA Preempts State Code Unless Arbitration Clause Incorporates the Code. Arbitration therefore mandatory for signatories and third party beneficiaries Nyko v. First Union Securities, Inc., B150211 (Cal. App., 2Dist., 2/7/02). Appealability * Arbitrability * […]
First Union Securities Renamed Wachovia Securities
Name Change Effective May 2002 By Rick Weinberg First Union Securities will announce Wednesday that it has been renamed Wachovia Securities, Registered Rep. magazine has learned. The name change is effective May 2002. First Union is the retail brokerage arm of Wachovia Corporation, along with IJL Wachovia. The firm, the […]
PIABA Downloads Entire SAC Database
PIABA Downloads Entire SAC Library of Arbitration Awards Lawsuit Pending Between PIABA and CCH and SAC [Ed. This article is from 2001 and is presented for historical purposes] The Public Investors Arbitration Bar Association (PIABA) has informed SAC that it has downloaded from the NASD Portal virtually all of the […]
NASD Extends Margin Disclosure Deadline
By John M. Baker, Esq. NASD Regulation announced on May 27, 2001,an extension to the deadline of the margin disclosure statement requirement for existing customers: For those non-institutional customers who were margin customers of the firm prior to June 4, 2001, members are required to provide the disclosure statement, […]
SEC Position on Mutual Fund Fair Value Released
New Obligations for Mutual Fund Directors? By John M. Baker, Esq. The staff of the Securities and Exchange Commission recently issued an interpretive letter on the obligation of investment companies and their directors to determine in good faith the fair value of the funds’ portfolio securities when market quotations are […]
GAO Report on Mutual Fund Fees Released
Makes Recommendations for Improved Disclosure By John M. Baker, Esq. The General Accounting Office released its long-awaited, and long (132 PDF pages), report on mutual fund fees. GAO, Mutual Fund Fees: Additional Disclosure Could Encourage Price Competition, No. GAO/GGD-00-126 (June 2000). The report notes that most investors have focused on […]
