FINRA’s TRACE System Promotes Bond Market Transparency

Stockbroker Law - Tuesday, July 26, 2016
FINRA’s TRACE System Promotes Bond Market Transparency

The Financial Industry Regulatory Authority (FINRA) maintains the Trade Reporting and Compliance Engine (TRACE) vehicle to facilitate the mandatory reporting of bond sales in the United States. This includes all bonds interfacing with transactions in the over-the-counter secondary market in eligible fixed income securities. All broker/dealers who are FINRA member firms are required to report transactions involving corporate bonds to the TRACE system under an SEC approved set of rules. 


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SEC Updates Investment Advisor Public Disclosure Website

Stockbroker Law - Tuesday, July 19, 2016
SEC Updates Investment Advisor Public Disclosure Website

The Securities and Exchange decision has updated its Investment Advisor Public Disclosure webpage, affording investors easy access to the disciplinary histories of registered investment advisors and individual investment advisor representatives. The various categories of disclosures contained on the reporting form (“Form ADV”) also includes states of registration, disciplinary events, biographical background and conduct, current registrations and employment history.  


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FINRA Resource for Brokers With Form U4 and U5 Questions

Stockbroker Law - Tuesday, July 12, 2016
FINRA Resource for Brokers With Form U4 and U5 Questions

The Financial Industry Regulatory Authority (FINRA) maintains a comprehensive archive of frequently asked questions regarding a registered person’s reporting obligations with respect to mandated Forms U4 and U5. Many brokers have been wrongfully burdened with intentional, improper and even fraudulent reporting amendments to the Central Register Depository (CRD), with bogus claims and allegations of wrongdoing. Oftentimes such dirty tricks are played by broker dealers seeking revenge against departing brokers bringing the profitable business and customers with them. Know your rights! 


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Timothy J. O’Connor Featured on Benchmark

Stockbroker Law - Wednesday, July 06, 2016
Timothy J. O’Connor Featured on Benchmark

On February 16, 2016 Timothy J. O’Connor was featured on Benchmark Television in an interview on the topic of Financial Fraud having been interviewed by Colonie Town Judge Peter Crummey. In the interview Mr. O’Connor answered a number of questions from Judge Crummey relating to the arbitration of securities disputes before the FINRA (Financial Industry Regulatory Authority) Office of Dispute Resolution. Click the link to learn more about the arbitration process. 


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Key Discovery Rule Decision in Aronstein v. Massachusetts Mutual Life Insurance Company

Stockbroker Law - Tuesday, June 28, 2016
Key Discovery Rule Decision in Aronstein v. Massachusetts Mutual Life Insurance Company

In a Decision handed down on April 22, 2016, the Honorable Mark G. Mastroianni, United States District Judge, for the District of Massachusetts, upheld the right of an investor, in a class action lawsuit against Massachusetts Mutual Life Insurance Company, to proceed with his underlying claims sounding in fraudulent misrepresentation. A careful and detailed analysis in the Decision noted that “[p]laintiff receives the benefit of the discovery rule under the laws of both states, with Massachusetts Law giving him three years from the date of reasonable discovery and New York Law giving him two years from that date.”  


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