Each state has its own securities laws. The following are selected sections of the Maryland securities laws that are generally applicable in FINRA arbitrations. B. Prohibited Practices. An investment adviser is a fiduciary and has a duty to act primarily for the benefit of its clients. While the extent and nature of this duty varies [...]
FINRA recently announced that Charles James Moni, a financial advisor formerly registered with Jesup & Lamont Securities Corp, a FINRA broker-dealer based in Edison, New Jersey, has been fined $39,013, which includes disgorgement of $29,013 representing commissions received, and suspended from association with any FINRA member in any capacity for six months. Without admitting or [...]
The SEC recently announcements that an Administrative Law Judge issued an Initial Decision in Frederick J. Barton (Barton), Admin. Proc. 3-13548 (Sept. 24, 2009), in which she found that Barton and companies he controlled had been enjoined from any future violations of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities [...]