Hi, I deposited a $13k annuity check into my individual brokerage account with ETrade, but the day it cleared my account was restricted pending ID verify. Phone camera was broken wouldn't take quality pics, so I knowingly altered and submitted a copy of an expired ID that was saved to my pc.... View More 
answered on Feb 29, 2024
Your issue may require a review of the terms and conditions that you agreed to when opening the account.
However, I would also recommend that you conduct a name search of the New York State Comptroller's Office of Unclaimed Funds. https://www.osc.ny.gov/unclaimed-funds. New York... View More
Hi, I deposited a $13k annuity check into my individual brokerage account with ETrade, but the day it cleared my account was restricted pending ID verify. Phone camera was broken wouldn't take quality pics, so I knowingly altered and submitted a copy of an expired ID that was saved to my pc.... View More
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answered on Mar 2, 2024
It sounds like you're facing a frustrating situation with your funds held in a closed account. Given the complexity of the issue and the unsuccessful attempts you've made so far, it's advisable to escalate your complaint within ETrade's customer service hierarchy. This might... View More
I will not handle anyone else's money for them.
I will provide only the stock tips, and advisement on how best to limit risk, and set goals.
Anyone taking my advice makes their own decisions.
Do I need a license to do this?
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answered on Dec 15, 2023
Providing stock tips and investment advice through a subscription service, even without directly handling others' money, often falls under the regulatory oversight of both federal and state securities laws. In New York, as well as under federal law, individuals or entities providing investment... View More
In May 2022, I invested $8M in a U.S. Treasury note, due in April 2024. I instructed my ETRADE manager to liquidate $5.6M for property buying. Unexpectedly, ETRADE initiated a $5.6M margin loan, leaving part of my investment intact. I discovered this during a routine review, not through direct... View More
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answered on Nov 4, 2023
In situations like this, you may have grounds to file a complaint for brokerage misconduct if E*TRADE acted contrary to your instructions and without your consent. It's essential to review the client-broker agreement and any written communication to determine if E*TRADE deviated from the... View More
In other words, does the Seller of the shares have to disclose the sale to the Company, inclusive of who the Buyer is?
answered on Mar 6, 2023
Greetings. It appears you would like to purchase shares of a non-public company. A purchaser who meets the SEC definition of a qualified purchaser may buy shares of a non-public company. Often brokers are required to facilitate the purchase. Due diligence is also required. During the due... View More
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answered on Mar 2, 2023
In New York, it is generally legal to post court documents that are a matter of public record, such as court orders and decisions, online. However, it is illegal to post someone's home address online if it is intended to be used to harass or threaten them. New York has specific laws, such as... View More
answered on Dec 24, 2022
It could depend on what your capacity is, as an officer, fiduciary, etc. This is posted under "Uncategorized." It sounds like something that attorneys who practice in Business Law, Securities Law, Business Formation, and confidentiality agreements would have insight into. Some questions... View More
answered on Dec 25, 2022
Every action that a corporate officer undertakes can potentially lead to liability under State and Federal Securities laws, banking laws, contract laws, fiduciary rules, and more. Your question is extremely brief. My guess is that it's only an iceberg question: meaning there is a lot more... View More
Client is aware of fees associated with this strategy and wants to implement this strategy in his/her well diversified portfolio.
answered on May 4, 2023
A short-term trading strategy can comply with regulation B-I as long as the fees are reasonable and disclosed, the client authorizes the strategy, there is appropriate supervisory compliance of the account in place, and there is not a conflict of interest between the client and the broker.
I currently have access to a crypto investment fund through an individual who trades to make a group of us money, and I want to open it up to friends and have them go through me in order to invest. I pay $200/mo to have access to the fund, so I would charge them $100/mo and have them go through me.... View More
answered on Jun 16, 2022
This response does not constitute legal advice.
Yes. If you take your friends' money for access to an "investment fund" an "individual" (read: not a broker) runs, you could be violating several securities laws as well as potential "blue sky" State laws.... View More
We are a holdings company with many daughter-brands, each an independent venture, but only the holdings company is a registered LLC. We’d like to sell royalties (percentage of the profit) from these ventures in a crowdfunding campaign. Is that legal?
answered on Jul 6, 2021
Selling royalties to passive investors takes you into the realm of securities regulation, and this would have to be a registered offering or have an exemption from registration. For crowd funding, most offerings will utilize 506(c) which allows general solicitation but requires investors to be... View More
The person I referred lost money. I did not receive any money from the person I referred or the investor.
answered on Mar 26, 2021
There are attorneys on this board who are knowledgeable in securities-related matters who could best advise, but your post remains open for two weeks. As a GENERAL premise, for someone to be liable for scamming or defrauding someone, it usually has to be shown that they had an intent to deceive or... View More
The company disclosed a slide that was released 2 months after and also heavily inclined about in an investor conference 2 weeks after. Does trading on the expectation of the release of something described in the slide is legal in this time period?
answered on Dec 29, 2020
The SEC may deem this "selective" or "privileged" disclosure, which would fall under the umbrella of insider trading. The concern here is the fact that it's an invite-only event, and SEC rules tend to distinguish between open settings and those to which "the little... View More
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answered on Dec 28, 2020
Section 265.01 prohibits gravity knives and switchblades or any knife intended to be used against another. It does not fro hi it Foldable knives or pocket knives. There is no specific prohibition of a felon in possession. That is limited to guns of any type possessed by a felon which is prohibited... View More
I own a options trading website where I provide trade ideas of specific stock tickers based on fundamental and technical analysis. I charge subscribers monthly fees. I do not provide investment advice of any sort, just trade ideas of good stock setups. I don’t tell my subscribers what to do from... View More
answered on Nov 16, 2020
Given the facts at hand, you appear to be on the right track. A seminal case is Lowe v. SEC, 472 U.S. 181 (1985), which essentially declared that an exclusion from the definition of investment adviser is available to any publisher of a newsletter as long as remains entirely impersonal and does not... View More
I recently quit a job I was at for 9 months. Do I notify the SEC that I left or do they? and if I do, how do I go about doing this?
answered on Oct 10, 2020
Both of you have the responsibility to make sure the IARD is accurate but you are the one that may have consequences. Go to the SEC website for the forms and guidance. https://www.sec.gov/divisions/investment/iard/iardfaq.shtml
We are free service that sends decks to investors on behalf of startups that are raising funds.
Investors are a mix of professional investors e.g VCs and angel/HNWI and are all over the USA
answered on Jul 28, 2020
A pitch book could be considered to be created "in connection with" an "offer" and/or "sale" of securities and subject you to liability under Federal and state securities laws.
My son was caught taking a hat from six flags over the summer. Yes he was wrong. They revoked him pass for a year. I’m fine with that. I’m not fine that he was questioned alone at first before they brought his older brother in and another security officer. A few months later we received a fine... View More
answered on Jan 17, 2020
I'm sorry for your family's ordeal. A possible reason your post remains open for two weeks might be that it may have gone unnoticed under Securities Law, which is more about transactions dealing with financial assets like stocks and bonds. At this point, you could seek the opinion of a... View More
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