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Shustak Reynolds & Partners Investigating Potential Forex Fraud
By George C. Miller, Esq. of Shustak Reynolds & Partners, P.C. posted on Wednesday, December 10, 2014.
Shustak Reynolds & Partners is investigating a large potential fraud perpetrated by Michael Atkins, April Samson and others through several entities, including Aureus Capital, Pte. Ltd., a foreign exchange (Forex) trading firm purportedly based in Singapore. The company shuttered operations in the […] Read More
RBC Cuts International Wealth Management Platforms
By George C. Miller, Esq. of Shustak Reynolds & Partners, P.C. posted on Friday, December 5, 2014.
The Royal Bank of Canada (RBC), parent company of RBC Capital Markets, LLC, a FINRA broker-dealer, recently made widespread cuts to the firm’s international advisory, wealth management and private banking platforms. The cuts are expected to negatively impact dozens of international […] Read More
Wells Fargo Settles Deferred Comp Class Action For $7.4 Million
By George C. Miller, Esq. of Shustak Reynolds & Partners, P.C. posted on Tuesday, November 25, 2014.
Wells Fargo Advisors recently agreed to pay in excess of $7.4 million to settle a class action claim alleging the firm wrongfully withheld deferred compensation from retirement-aged advisors. The settlement is expected to be confirmed at an upcoming hearing in the Northern District […] Read More
FINRA's Account Data Collection System Under Scrutiny
By George C. Miller, Esq. of Shustak Reynolds & Partners, P.C. posted on Wednesday, November 12, 2014.
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’s “Comprehensive Automated Risk […] Read More
Got Guidance? Not Much, Says Judge Rakoff, If SEC Admin Enforcement Carries The Day.
By Dennis Stubblefield, Esq. of Shustak Reynolds & Partners, P.C. posted on Friday, November 7, 2014.
This last week saw two notable developments: Judge Rakoff’s speech at PLI, and the NYT Op-Ed piece calling for the SEC to adopt a DMV-style “point” system to provide scaled-up deterrence and license-yanking for repeat offenders. In his address before PLI’s 46th Annual Institute […] Read More
FINRA Panel Awards Nearly One Million Dollars to Financial Advisor in Industry Employment Dispute
By Robert L. Hill, Esq. of Shustak Reynolds & Partners, P.C. posted on Monday, November 3, 2014.
A three-person FINRA arbitration panel recently awarded Maryland financial advisor Gary Padussis nearly $933,000.00 in damages against UBS Financial Services based upon Mr. Padussis’s claims UBS wrongly interfered with his business and client relationships while he was employed at the firm. The same […] Read More
SEC Subpoenas and Enforcement Actions On The Rise
By George Miller, Esq. of Shustak Reynolds & Partners, P.C. posted on Thursday, October 30, 2014.
In mid October of 2014, the Securities and Exchange Commission (SEC) reported that it filed a record 755 enforcement actions during the fiscal year ending September 2014. According to a press release issued by the agency, those actions included several first-ever cases, such […] Read More
Admin Proceedings On Steroids: The Sec's Improper End Run Around Having To Prove "Likelihood" In Federal Court
By Dennis A. Stubblefield, Esq. of Shustak Reynolds & Partners, P.C. posted on Wednesday, October 22, 2014.
A week after Commissioner Pinowar publicly questioned it, the SEC’s march toward admin enforcement seems inexorable. Tuesday brought two good articles on this troubling development, on page one of the Wall Street Journal, and on Bloomberg. Jean Eaglesham’s Wall Street Journal article […] Read More
Erwin Shustak Attends FINRA’s Arbitrator Appreciation Evening
By of Shustak Reynolds & Partners, P.C. posted on Wednesday, October 22, 2014.
Erwin Shustak attended the first annual Arbitrator Appreciation evening hosted in San Diego by FINRA, the Financial Industry Regulatory Authority, the successor to the NASD. Erwin has been a FINRA arbitrator since 1996. Since then, he has been selected to hear dozens of cases involving both […] Read More
Partner Jonah A. Toleno, Esq. Named Finalist For Women Who Mean Business Awards
By of Shustak Reynolds & Partners, P.C. posted on Thursday, October 16, 2014.
Shustak Reynolds & Partners, P.C. is pleased to announce that Jonah A. Toleno, Esq., a partner based in our firm’s San Diego office, has been named as a finalist for the San Diego Business Journal’s 21st Annual “Women Who Mean Business” Awards. The award honors dynamic women business leaders in San Diego who have demonstrated leadership and […] Read More