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I was contacted by a brokerage firm named Stockyard Holdings Group by phone, asking if I would waive my shares of my timeshare. They want me to sign a certificate of dividends or waive my right to shares, stating that I would lose over $600 per share. Is this a scam, and what should I do to verify... View More 
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answered on Apr 12, 2025
It’s good that you’re being cautious about this offer. Contacting you about waiving your timeshare shares, especially with an unusual offer like signing a certificate of dividends or losing a certain amount per share, is definitely a red flag. Scams often use pressure tactics like this to trick... View More
I am an investor in BlackRock and have been concerned about potential KYC compliance negligence and fraud since January 2025. I believe BlackRock violated KYC compliance regulations by selling a Bitcoin ETF, as Bitcoin lacks essential compliance elements such as a website, staff, address, email,... View More
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answered on Apr 8, 2025
If you're considering legal action against BlackRock, the first step would be to consult with a legal professional who has expertise in financial regulations and securities law. You’d need to gather concrete evidence supporting your claim that BlackRock failed to meet KYC compliance... View More
I own shares in BlackRock and have been concerned since January 2025 about potential KYC compliance negligence and fraud. I believe BlackRock violated KYC compliance regulations by engaging with Bitcoin, which lacks a website, staff, address, email, and contacts. Despite this, BlackRock has been... View More
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answered on Apr 13, 2025
It’s understandable that you’re concerned about potential KYC compliance issues with BlackRock’s Bitcoin ETF. However, it’s important to note that Bitcoin itself is a decentralized asset without a central entity, which complicates traditional KYC procedures. That said, financial... View More
I own shares in BlackRock and am concerned about potential KYC compliance negligence and fraud. I believe BlackRock violated KYC compliance regulations by engaging with Bitcoin, which lacks a website, staff, address, email, and contacts. This raises questions about Bitcoin's legitimacy.... View More
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answered on Apr 13, 2025
Suing BlackRock for KYC negligence and fraud related to Bitcoin would be a complex process. KYC (Know Your Customer) regulations are typically designed to prevent financial crimes such as money laundering, but whether BlackRock violated these regulations by offering a Bitcoin ETF depends on the... View More
Mom had a stroke a year ago and hasn't gotten better. We are trying to buy a house so that I can take care of her when the time comes... Fidelity has accused me of Elder Abuse and trying to steal her assets etc even tho my mom was the one who told fidelity what her wishes were. They are rude... View More
answered on Nov 25, 2024
I'm sorry you're going through this difficult situation. If you haven't already, ask Fidelity to document their concerns in writing and provide the specific reasons for refusing to honor your POA or give your mother access to her funds. It may be because they believe your mother... View More
for over a year fidelity has been holding my mothers money, she had a stroke named me as power of attorney snd they refuse it and now she has no access to her money and is sick and cannot pay her bills or get her medications etc because. they blocked her account she has been there for 40 Years and... View More
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answered on Oct 27, 2024
What is the reason they do not wish to honor the power of attorney? Was it drafted by an attorney on the New York Short Form? If it is a valid POA, they can be compelled to honor it. Otherwise, you would need to apply for guardianship of your mother.
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
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
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.
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
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
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