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Goldman Sachs Faces $1.8 Million Fine for Trade Reporting Failures
By Jessica H. Antoniades, Esq. of Shustak Reynolds & Partners, P.C. posted on Friday, July 31, 2015.
This week, the Financial Industry Regulatory Authority (FINRA) announced it has fined Goldman Sachs Execution & Clearing, L.P. $1.8 million for violations relating to trade reporting, failing to submit accurate trade reports and related supervisory failures […] Read More
What Do Flip Flops, a Halloween Party and Bad Language Have In Common? One Fired Broker…
By George C. Miller, Esq. of Shustak Reynolds & Partners, P.C. posted on Friday, July 24, 2015.
Until July 2015, Marc Lowe was a top-producing financial advisor based in Bank of America Merrill Lynch’s Los Angeles offices. He reportedly was part of a top producing team at Merrill, […] Read More
Major SEC Enforcement Action Shows the Twists Challenging the use of Administrative Proceedings
By Jeffrey T. Petersen, Esq. of Shustak Reynolds & Partners, P.C. posted on Monday, July 20, 2015.
We previously reported here [Hill, 6-19-15 post] on what is currently the only case where an SEC administrative proceeding has been enjoined by a district court on constitutional grounds, […] Read More
Update on Recent Court Rulings In Challenges to SEC Administrative Proceedings
By Jeffrey T. Petersen, Esq. of Shustak Reynolds & Partners, P.C. posted on Friday, July 17, 2015.
We previously reported here on the SEC administrative proceeding against New York financier Lynn Tilton and her private equity firm, Patriarch Partners, […] Read More
Senate Proposes Substantial Increases In SEC Fines For Fraudsters
By Erwin J. Shustak, Esq. of Shustak Reynolds & Partners, P.C. posted on Friday, July 10, 2015.
The price for being a securities fraudster may be increasing substantially. The U.S. Senate proposed substantial increases in SEC fines, […] Read More
Regulators To Increase Scrutiny Of Barred Brokers With Insurance Licenses
By Dennis A. Stubblefield, Esq.and Paris Novinni of Shustak Reynolds & Partners, P.C. posted on Friday, June 26, 2015.
State regulators are setting their sights on barred securities brokers who continue to sell insurance and other financial products […] Read More
Major SEC Enforcement Action Shows The Twists And Turns In Challenging The Use Of Administrative Proceedings
By Dennis A. Stubblefield, Esq. and Jeffrey T. Petersen, Esq. of Shustak Reynolds & Partners, P.C. posted on Thursday, June 25, 2015.
In the past two months, an SEC administrative proceeding against a well-known financial figure in New York has demonstrated the legal twists […] Read More
Respondent In SEC Administrative Proceeding Pushes Recent Adverse Ruling Against SEC In The Hill Case
By Jeffrey T. Petersen, Esq. and Dennis A. Stubblefield, Esq. of Shustak Reynolds & Partners, P.C. posted on Thursday, June 25, 2015.
In the past two months, an SEC administrative proceeding against a well-known financial figure in New York has demonstrated the legal twists […] Read More
Respondent Wins Preliminary Challenge to SEC Use of Administrative Proceedings -- But How Long Will it Last?
By Jeffrey T. Petersen, Esq. of Shustak Reynolds & Partners, P.C. posted on Friday, June 19, 2015.
A federal court in Georgia recently provided the first win to a respondent this year, granting a preliminary injunction against the SEC’s use of an Administrative Proceeding in Hill v. SEC. The court there used a two-part analysis in ruling against the SEC […] Read More
Is Your U4 Accurate?: New FINRA Rule Requires Heightened Background Checks
By Jessica A. Antoniades, Esq. of Shustak Reynolds & Partners, P.C. posted on Monday, June 1, 2015.
FINRA's new Rule 3110(e) is set to take effect July 1, 2015. The rule will require many firms to intensify background checks and investigation policies for new hires. Under the new rule, firms must verify the "good character, business reputation, qualifications and experience of an applicant before the member applies to register that applicant with FINRA." […] Read More