Broker - Securities l Corporate l Business Law

SEC Uses Data Analysis to Detect Cherry-Picking By Broker Michael A. Bressman

The Securities and Exchange Commission charged a New Jersey-based broker with misusing his access to customers’ brokerage accounts to enrich himself and family members at the expense of his customers, many of whom had entrusted him with their… Read More

SEC Detects William Gennity and Rocco Roveccio Defrauding Customers

On September 28, 2017, the Securities and Exchange Commission charged William Gennity and Rocco Roveccio with making unsuitable recommendations that resulted in substantial losses to customers and hefty commissions for the brokers. One of the brokers agreed to… Read More

Electronic Transaction Clearing -ETC- Charged With Repeatedly Putting Customer Assets At Risk

On March 19th the Securities and Exchange Commission announced that Electronic Transaction Clearing (ETC), a registered broker-dealer headquartered in Los Angeles, has agreed to settle charges that it illegally placed more than $25 million of customers’ securities at risk… Read More

SEC Charges Demitrios Hallas for Defrauding Customers

On April 25, 2017, the Securities and Exchange Commission (“SEC”) charged Demitrios Hallas, a former broker, with knowingly or recklessly trading unsuitable investment products in the accounts of five customers and misappropriating more than $170,000 from one of… Read More

What is Broker-Dealer Registration? Securities Lawyer 101

Securities Lawyer 101 Blog Broker-dealers are subject to regulation by the SEC, FINRA, Self Regulatory Organizations (“SROs”) such as stock exchanges, and the states in which they do business.  The Securities Exchange Act of 1934 (the “1934 Act”) requires that… Read More