Lawyers, Answer Questions  & Get Points Log In
California Securities Law Questions & Answers
1 Answer | Asked in Banking, Contracts and Securities Law for California on
Q: Is lying about net worth and income on an application for a brokerage account for trading stock options illegal?

I am opening an account and want to get approved for this certain level of options trading; they only approve if you declare a good income and net worth; is it illegal to lie about the net worth and income?

James L. Arrasmith
PREMIUM
James L. Arrasmith pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Feb 21, 2024

Misrepresenting your net worth and income on an application for a brokerage account, especially with the intent to gain approval for certain trading options, can have serious legal consequences. Under California law, providing false information on financial documents like brokerage account... View More

1 Answer | Asked in Business Law, Mergers & Acquisitions, Civil Litigation and Securities Law for California on
Q: I run a business in Los Angeles and received a Wells Notice after testifying, without an attorney.

hvm

James L. Arrasmith
PREMIUM
James L. Arrasmith pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Jan 30, 2024

Receiving a Wells Notice in Los Angeles indicates that the Securities and Exchange Commission (SEC) is considering enforcement action against you or your business. This notice is a serious matter and typically precedes formal charges. It gives you the opportunity to present your side of the story... View More

3 Answers | Asked in Securities Law and Environmental for California on
Q: Can I put a security sticker on my personal bedroom window?

A neighbor across from us is nosey and opens their lights whenever we do. Can I put a security sticker in my personal bedroom window as a form of safety?

T. Augustus Claus
PREMIUM
T. Augustus Claus pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Nov 29, 2023

Yes, you can typically put a security sticker on your personal bedroom window in California. There are no specific laws or regulations in California that prohibit homeowners from placing security stickers on their windows. Security stickers are often used as a deterrent to burglars and can help to... View More

View More Answers

3 Answers | Asked in Securities Law and Environmental for California on
Q: Can I put a security sticker on my personal bedroom window?

A neighbor across from us is nosey and opens their lights whenever we do. Can I put a security sticker in my personal bedroom window as a form of safety?

James L. Arrasmith
PREMIUM
James L. Arrasmith pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Nov 29, 2023

In California, as a general rule, you are allowed to put a security sticker on your personal bedroom window. This is considered a part of your right to ensure privacy and security in your own home. The use of a security sticker does not typically violate any laws, as long as it does not contain... View More

View More Answers

1 Answer | Asked in Securities Law for California on
Q: If I purchase a cryptocurrency knowing that I intend to sue the company as part of a class action lawsuit, is that legal

A company that issued cryptocurrency tokens did what many of us believe to be fraudulent activity and the token lost almost all value. After speaking with lawyers, a class action lawsuit is likely going to be filed. I was told by said lawyers that it is perfectly legal to buy the cryptocurrency... View More

James L. Arrasmith
PREMIUM
James L. Arrasmith pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Aug 14, 2023

Engaging in the purchase of a cryptocurrency with the intention to participate in a class action lawsuit could be legally permissible in California, as long as the purchase itself is conducted within legal bounds and you are not an insider of the company. However, potential ethical and practical... View More

1 Answer | Asked in Securities Law for California on
Q: Do judges have a financial incentive in the outcome of court cases for capital gain surety bonds?
James L. Arrasmith
PREMIUM
James L. Arrasmith pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Apr 26, 2023

No, judges do not have a financial incentive in the outcome of court cases for capital gain surety bonds. Judges are required to be impartial and unbiased in their decision-making, and they are bound by ethical standards that prohibit them from engaging in any behavior that would compromise their... View More

1 Answer | Asked in Securities Law for California on
Q: I need a letter of opinion that the crypto I created for sale/swap is not a security.

The credit card company asking for this letter.

James L. Arrasmith
PREMIUM
James L. Arrasmith pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Mar 3, 2023

It is important to note that whether a crypto asset is considered a security depends on various factors and requires a careful analysis of the specific circumstances surrounding the creation, sale, and use of the asset. The analysis may include, but is not limited to, considerations of how the... View More

1 Answer | Asked in Securities Law, Criminal Law and Civil Rights for California on
Q: Can I install a security camera in the garage to make sure nobody tampers with my tools?

My roommate always has her boyfriend at the house whom I don’t know or trust

James L. Arrasmith
PREMIUM
James L. Arrasmith pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Feb 21, 2024

Yes, in California you can legally install a security camera in the garage to monitor your tools, as long as certain conditions are met:

- The garage must be an area you have exclusive rights to access and control. If it is a shared garage with your roommate, you would need their consent to...
View More

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,... View 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... View More

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 pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
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... View 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... View More

View More Answers

1 Answer | Asked in Criminal Law, Civil Rights, Constitutional Law and Securities Law for California on
Q: In California, Are police officers allowed to tamper with or vandalize security cameras on private/residential property?

Police officers came to the home of my mother-in-law because her son was in violation of his probation. They [Police officers] entered our home and noticed our security camera and immediately disconnected it. When I asked why he did that, he said, "because we're supposed to. It's... View More

Louis George Fazzi
Louis George Fazzi
answered on Jan 16, 2022

You don't mention whether the police were given permission to enter the premises under the circumstances you described. Causing property damage during such a call at private property is not proper or legal, in my opinion. Disabling the recording system is one thing, but damaging the system by... View More

1 Answer | Asked in Employment Law and Securities Law for California on
Q: Should I start the process of a lawsuit?

Hello! I am so grateful for this platform because I have no one to talk to about this. I work for a transportation company overnight as a dispatcher. Since August we had 5-6 intruders on our premises. Thankfully no one got hurt but I was very close up to one and it was scary. Recently, our HR added... View More

Neil Pedersen
Neil Pedersen
answered on Dec 14, 2021

A lawsuit is not going to get you what you need right now.

You cannot sue your employer for exposing you to danger. If you face injury you file a workers compensation claim.

If you have workplace safety issues, you can try reporting the conditions to OSHA who promulgates workplace...
View More

2 Answers | Asked in Personal Injury, Domestic Violence, Native American Law and Securities Law for California on
Q: Dose pachanga security have a right to put their hands on me due to haveing no I'd on my person far from 21 , 43?

Wasn't in casino took dog out to potty security approached ?about my Id in witch I had none boyfriend did .I was demanded to leave in a direction I did know at all I explained I'm not going that way and I'm going back inside to buy breakfast and then I was going to leave I... View More

Peter N. Munsing
Peter N. Munsing
answered on Jun 1, 2021

Contact a member of the Consumer Attorneys of California (CAOC)--they give free consults. It's possible you have a case though I'm not sure if it is likely to cover the costs of bringing it.

View More Answers

1 Answer | Asked in Securities Law for California on
Q: Is the statute of limitations in CA's UFTA based on the date the complaint was filed against the company, or against me?

I have been asked to return profits from a Life Settlement contract invetsment because the holding company was accused of running a Ponzi scheme. The UFTA has a statute of limitations of 4 years, but it's unclear to me if that is based on the date the complaint was filed against the company,... View More

Maurice Mandel II
Maurice Mandel II
answered on Jan 26, 2021

3439.09. A cause of action with respect to a fraudulent transfer or

obligation under this chapter is extinguished unless action is

brought pursuant to subdivision (a) of Section 3439.07 or levy made

as provided in subdivision (b) or (c) of Section 3439.07:

(a) Under...
View More

2 Answers | Asked in Securities Law for California on
Q: I was married from 1989 to 2014 leagally and died in 2015 do I have right to his pension or social security?

I currently living in Denver

And have been in europe with a friend

No house of my own in california

Maurice Mandel II
Maurice Mandel II
answered on Nov 2, 2020

First, this is not a "Securities law" question, and your question will not go to the correct attorneys for an answer, see, you get me! This is Family Law or Probate. But the quick answer is that once you divorced him in 2014, all rights you had to any aspect of his estate were... View More

View More Answers

1 Answer | Asked in Criminal Law, Immigration Law and Securities Law for California on
Q: Can i Immigrate to us or canada having two non felony convictions for fraud?
Dale S. Gribow
Dale S. Gribow
answered on Aug 16, 2020

you need to ask this of an Immigration Attorney ..........not a criminal law.

1 Answer | Asked in Securities Law for California on
Q: Can you get sued for using a video you recorded in your house as evidence because the person did not consent to it?

My girlfriend wants to know if she could possibly get sued. She is currently in the process of getting a restraining order against her brother so she’s gathering all of her evidence. Part of the evidence she wants to use is a video she recorded in their home in which the two of them were arguing... View More

Maurice Mandel II
Maurice Mandel II
answered on Jul 6, 2020

Your girlfriend needs to ask her own questions. The substance of this question is whether the video you describe comes under the prohibition against "wiretaps". A wiretap is a recording made where one of the two or more people does not know it is being made. Since you state "he saw... View More

1 Answer | Asked in Securities Law for California on
Q: Do I have to "serve" Interrogatories and answers to them; requests for documents and answers to them?

I read that it is not necessary to file these with the court

Maurice Mandel II
Maurice Mandel II
answered on Jun 27, 2020

You have to "serve" the interrogatories (written questions) you are asking and you have to serve the answers to the ones you were asked. "Service" is usually done electronically today, in pdf format. Your interrogatories and your answers need to have a proof of service... View More

1 Answer | Asked in Business Formation, Business Law and Securities Law for California on
Q: Starting an equities investment club in California. Will create a CA LLC and an online brokerage account for trading.

We are going to pool our money into a single brokerage account. The account will be managed by one person who does not have a securities license. Is this ok?

Also, the members of the club would like to compensate the person who will be managing the account, keeping the records, etc. Is... View More

Bruce Alexander Minnick
Bruce Alexander Minnick
answered on May 14, 2020

Unless everything you are planning to do can be fit under the statutory heading of "Investment Clubs" (assuming California allows them) you and the trader who is making money are looking for big-time trouble.

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.