We intend to open a revenue management company (accepts receipts and make payments on behalf of overseas legally formed entities). Is this legal to do?
The last time someone tried something like this using receipts and then making payments to investors, a guy named Charles Ponzi from Boston was at the helm. Hopefully your business plan addresses your prospective need for white collar defense counsel.See question
To date I have received nothing. What can I do?
First, are they still around? If not, why not? Have you done a litigation search to see if there are other people similarly situated? You may need an attorney not only for litigation, but also to assist in filing a complaint with Texas regulators and the SEC.See question
I set up an LLC solely to make direct investments in various companies (other LLC as well as partnership opportunities). I recently found an investment opportunity in a foreign country that I consider making a direct investment. Is it possible for...
Much will depend on the status of your LLC as "accredited" either in the US or in the home jurisdiction of the target investment. If you're not buying something publicly traded on a stock exchange or a bond that's traded on a regular basis, you have a ton of due diligence to do, as well as work in finding an attorney who will assist you in drafting a purchase agreement that will provide recourse in the event of theft or fraud.See question
ok, I'm buying a share of a EB5 program. and i noticed that in the qualification statements, it says regulation S matters. it requires 1. not us resident 2. not buying for us resident 3. bought outside the us. 4 not engage hedging transaction. so,...
Regulation S and EB-5 are minefields. The Reg S exemption has to be claimed by the issuer, not the purchaser. And that means if there is one purchaser in the US that physically resides in the US, the Reg S exemption will not work. Someone in this transaction (either you or the issuer) is going to have to get a written opinion from someone as to the applicability of the exemption to your participation in the EB-5 project.See question
Any required clauses for protections after signing a contract for an investment securities for retirement through an insurance company that uses agents as its representatives to sell its prospectus products? Can a client get out of their contract ...
You will need an attorney not only to deal with potential losses, but also (a) to complain to the insurance company itself about the rep's inaction and (b) to file a complaint with California insurance and securities regulators. In the meantime, it is likely time for you to move on from this person and get your assets somewhere where you are more comfortable. Your local bank can likely assist in a "change of broker form" or "A-CAT" for your accounts. Remember - continued service from a broker on your accounts that you allege has wronged you will be used against you whenever possible.See question
On 6/10/15 I informed my financial advisor via email to move my portfolio being managed by his company "financialadvisors.com" stating "I want to protect what I have as opposed to trying for more gains and to this end I wanted all my portfolio fun...
You should contact an attorney to assist you in recovering your losses and also filing a complaint with Texas securities regulators. If your financial advisor is legitimate, you can go to your local bank and ask that they "A-CAT" your account out from this person to an account at your bank, where it will be liquidated as per your instructions should you so choose.See question
I was drunk on Cinco de Mayo and tried breaking up a fight. I ended getting beat up myself and was arrested. The cops charged me with disturbing the peace, assault, and false information. I plead guilty the next morning and didn't even try to figh...
You have received good answers here. In these matters, the lie is always worse than the truth. You can be barred from the industry for making false statements on Form U4. This being the case, it wouldn't be a bad idea to have a letter from counsel explaining the situation when you submit application paperwork. The letter should explain what "false information" under the statute by which you were charged and whether the matter needs to be disclosed.
In instances such as this, firms may be willing to license you but certain states may not. Others will require you to be subject to "special supervision" or something similar. This being the case, getting counsel to deal with this would be a good idea. It is not a matter of "if" but "when."See question
The gentlemen runs a blog for foreign currencies. He has launched what is called a "Plan B" strategy, and provides a phone number to potential investors with a personal invite to join "Plan B". When you've listened to the "Plan B" calls, you are...
Currency trading scams are all over the internet. You should contact a securities/commodities litigator to review whatever documents you have to ascertain what should be done. You may well be chasing empty pockets, but you never know. Your attorney can also help you coordinate communications with the CFTC and Georgia regulators. You may be able to file a Dodd-Frank whistleblower submission on these guys, which can result in your share of the fines levied by the CFTC if they collect.See question
ALLEGATIONS REGARDING EMPLOYEE'S HANDLING AND PREPARATION OF CLIENT DOCUMENTATION. How would I explain this to prospective employers without selling myself short. I have no other marks and clients had nothing but praise for my work.
Much will depend on the language on your Form U5 and whether you've taken enough care to negotiate language and separation to permit you to get another job. All of this of course is dependent on the veracity of your side of the story versus that of your former employer.
It may well be too late to negotiate with this firm to amend your U5. You may well have to seek relief in FINRA arbitration. It isn't cheap, and you will have to also deal with the stigma of being a RR that's sued a former employer.
You don't have many options here, but you need to do something to continue working in the industry. Consult with counsel and work with them. It will be money well-spent.See question
I am applying for a securities job and filed my U-4 form with FINRA. On the form it asks if I have ever been arrested for Misdemeanor. I have a MA Misdemeanor from 2010 which has now been sealed. Do I need to answer yes?
Question 14B(1)(a) deals with disclosures of misdemeanors. Your answer will depend on whether the misdemeanor is encompassed within this question's terms. Essentially anything theft or fraud related is to be disclosed. 14B(1)(b) deals with if you've ever been charged with a misdemeanor covered in 14B(1)(a).See question