Securities Law Q&A by State

Your current state is Virginia


US Territories

  • Puerto Rico

Show More States »

Lawyers, Answer Questions  & Get Points Log In
Securities Law Questions & Answers
0 Answers | Asked in Securities Law for North Carolina on
Q: Can I manage money for an LLC 90% owned by myself and 10% by my brother? My bro is a silent partner. I have no licenses.

I trade options and stocks in the stock market. I would like to create a North Carolina LLC where I trade the LLC's funds in the stock market. My brother, an accredited investor, would provide 10% of the funds and I would provide 90% of the funds to trade in the LLC. I have no securities... Read more »

0 Answers | Asked in Business Formation, Business Law and Securities Law for Texas on
Q: If I want to start a business to invest money for regular people, do I need qualifications to do so, legally speaking?

I'm a competent investor and I have made outsized returns for the past 2 decades. My friends and family all want me to take their money and invest it for them like I do. It is my understanding of the law that this would not be legal, as I am not a financial advisor nor do I have... Read more »

0 Answers | Asked in Estate Planning, Tax Law and Securities Law for Utah on
Q: What assets does the Estate Tax cover?

My father passed away in 2011 leaving shares. In 2012, the stock yield dividends in value above exemption. For certain reasons, I was able to retrieve these assets in 2022.

As of now, I am receiving the shares which worth more and these dividends. The question is whether I shall pay... Read more »

0 Answers | Asked in Landlord - Tenant and Securities Law for California on
Q: Hi, I rent out a room within the landlords house. She went on vacation and installed cameras In the living room, kitchen

And hallway pointed to my door and bathroom without my consent. I wasn’t notified that house was being recorded and since she was on vacation and I’m the only other tenant, I walked out of room without being fully dressed to enter my bathroom, and grab something from kitchen. She then, after... Read more »

0 Answers | Asked in Securities Law for North Carolina on
Q: Can I manage my brother's money in a NC LLC where he owns 10% and I own 90%? He provided 10% and I 90% of the funds.

I trade options and stocks in the stock market. I would like to create a North Carolina LLC where I trade the LLC's funds in the stock market. My brother, an accredited investor, would provide 10% of the funds and I would provide 90% of the funds to trade in the LLC. I have no securities... Read more »

0 Answers | Asked in Personal Injury, Civil Litigation, Civil Rights and Securities Law for Pennsylvania on
Q: Hello my 5 year old daughter was caught shoplifting candy the man who caught her grabbed her by her shoulder and neck an

And drug her through the store when I tried to take her from him he put her behind this waist high door that locks and refused to give her to me until I got very loud and verbal rippped it open and took her he called cops I paid for the candy she stole and cops did nothing but do I have a case for... Read more »

0 Answers | Asked in Tax Law, Securities Law and Stockbroker Fraud for Nevada on
Q: Is there an IRS regulation/US Statute that requires one to prepay 20% income tax to withdraw cryptocurrency and get $$$?

I have been trading in crypto and recently went to withdraw my earnings (almost 900k) from my wallet in the last week. The wallet that I use is stating that in order for me to receive my funds and withdraw my money that I am required to prepay the 20% tax rate on short-term investments within 7... Read more »

1 Answer | Asked in Securities Law and Stockbroker Fraud for Florida on
Q: Broker decided to close my account and sell my securities. They said I broke section 3 of their agreement without detail

Is it legal for a brokerage firm to decide they no longer want to manage my account and sell my securities without my permission. They refused to transfer them to another firm.

Bruce Alexander Minnick
Bruce Alexander Minnick
answered on Sep 22, 2022

Yes, it is legal for a brokerage firm to decide that they no longer want your business.

No, it is not legal for the brokerage firm to liquidate your securities unless they have a good reason.

For any more help you will have to retain a lawyer. Search for one using Justia.

0 Answers | Asked in Securities Law for Massachusetts on
Q: I moved in 4 years ago paid security deposit $1,1125, my rent went up $375 and my landlord wants me to pay the differenc

In my security deposit To make up the new monthly rent of $1500

1 Answer | Asked in Securities Law for California on
Q: Is it legal to purchase stock options from an employee at a private company?

I.e. Could I legally cover the taxes on an employee's vest, to "purchase" the shares that would normally be sold to cover the taxes associated with the vested stock amount? If I formed a private agreement with that employee to earn the return on those shares, minus some percentage,... Read more »

James R. Dickinson
James R. Dickinson
answered on Sep 20, 2022

This seems like a strange way to address the issue. Without speaking to your specific situation, a loan, to be repaid [secured or unsecured], would be a way one could cover costs. You need to speak with a local attorney regarding your specific situation. [I litigate cases. Anything posted here must... Read more »

0 Answers | Asked in Contracts, Banking and Securities Law for Washington on
Q: What is the code for Washington State for the 'Oral Contract Statute of Limitations'? Re:How long is the summons period?

I have a pending summons to court which has not been served on me and 2 other defendants regarding plaintiff losses from Bitcoin Cloud Mining. The plaintiff did not follow my specific advice and is trying to all 3 of us for $350,000 regarding his loss of $10,000 in March 2020. Is this a valid... Read more »

0 Answers | Asked in Personal Injury, Child Custody and Securities Law on
Q: what cases should i gave if an adult and minor spreading fake news

my friend and her partner are fighting because of this fake news

1 Answer | Asked in Banking, Business Formation, Securities Law and Stockbroker Fraud for California on
Q: Can I manage other people's money (money manager or portfolio manager) with only my series 65 license in California?
Steve A. Buchwalter
PREMIUM
Steve A. Buchwalter
answered on Sep 1, 2022

Anyone can allow you to manage their money. There are no requirements for you to do so. Having a business of, or charging for, managing someone else's money can a different story and is more complicated.

2 Answers | Asked in Securities Law and Stockbroker Fraud for California on
Q: My question pertains to potential breach of fiduciary responsibility by my financial advisor, Merrill Lynch.

I have been a client of Merrill Lynch (ML) for more than 20 years. Not until 3 months ago did any of my advisors at ML ever mention that I should be purchasing US Govt issued iBonds, as part of my portfolio, which in almost every year of my ML relationship have paid a substantially higher return... Read more »

David Neuman
David Neuman
answered on Jul 28, 2022

California law finds that stockbrokers and financial advisors are per se fiduciaries to their clients. Thus, the fiduciary has to act in your best interest first. There are a number of other duties that arise when a stockbroker is a fiduciary, such as keeping their clients abreast on changes in... Read more »

View More Answers

2 Answers | Asked in Securities Law and Stockbroker Fraud for New York on
Q: Financial investment question

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.... Read more »

Chris Warren
PREMIUM
Chris Warren
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....
Read more »

View More Answers

1 Answer | Asked in Securities Law and Estate Planning for Texas on
Q: Can the executive of a will over ride the Beneficiary for investments

I am the Beneficiary for the investments my ex-wife made she passed away in2019 her executive of the will told me that she gave everything to her Granddaughter I asked for the paperwork and he told me that I was trying to dig up dirt on my ex-wife. Can he override the Beneficiary for investments

Paul Premack
Paul Premack
answered on Feb 28, 2022

Your divorce eliminated your name as beneficiary on investments. Investments like a mutual fund or stock are allowed to have a "pay on death" or a "transfer on death" designation. Sometimes the accounts will be in both names, with a "right of survivorship". The goal of... Read more »

2 Answers | Asked in Criminal Law, Civil Rights, Constitutional Law and Securities Law for Louisiana on
Q: Can they convict me of burglary if I never went in the building?

In st. Tammany Parish Louisiana I have trial in one month. I was in fact on surveillance videos sitting in the uhaul but I never went in the storage building or in a unit. I never cut locks or damaged any properties. I didn't want to be involved. Can they actually convict me with the crime if... Read more »

Randy Bryan Ligh
Randy Bryan Ligh
answered on Feb 16, 2022

If you have trial in 1 month you should have an attorney representing you----please discuss with your attorney. If not, then you need to hire a criminal defense attorney immediately because you do not want to go to a felony trial representing yourself. Lastly and perhaps most importantly, stop... Read more »

View More Answers

1 Answer | Asked in Consumer Law, Criminal Law, Federal Crimes and Securities Law for Louisiana on
Q: If I can follow someone who stole/scammed me out of my BTC currency is there a way of getting back?

I was scammed by someone who claimed to be working as a broker for Bitmap cryptocurrency. I found out once they told me whoops I gave you too much money can you please send me back this much through cash app. I was like oh man this is a freaking scam thing it so I am out at $2000 so far with them

Ellen Cronin Badeaux
Ellen Cronin Badeaux
answered on Feb 5, 2022

You can report the crime to the FBI

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.