Lawyers, Answer Questions  & Get Points Log In
California Securities Law Questions & Answers
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 »

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

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... Read 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... Read 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... Read 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...
Read 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... Read 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,... Read 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...
Read 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... Read 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... Read 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... Read 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... Read 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... Read 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.

1 Answer | Asked in Employment Discrimination and Securities Law for California on
Q: I understand that If a private company uses a unlicensed agent to raise assets, that's an SEC violation.

However, is there anything in it for me to turn the company in?

The company has gone from zero value to $85 million in value and used me, a misclassified independent consultant, to raise money for them. I am going after the company based on being misclassified. But, could I receive... Read more »

Louis George Fazzi
Louis George Fazzi
answered on Mar 24, 2020

In my opinion, there is nothing in it for you. The whistleblower statute was created as an incentive for people to report fraud on the government, or waste of government assets or expenditures. I don’t see that in this situation.

1 Answer | Asked in Securities Law for California on
Q: I am an interested party: 19CV1628 H Securities and Exchange Commission v. Champion-Cain et al How do I pursue recovery?

I became aware of the lawsuit just today when calling to office to check on my $250,000 investment. I was never informed of this proceeding, and not listed as an interested party on documentation. It is in receivership. What do you suggest I do as next steps? Please advise, thank you.

Steve A. Buchwalter
PREMIUM
Steve A. Buchwalter
answered on Sep 30, 2019

Contact a lawyer. You may want to notify the receiver. You may have claims against the managers and those who sold it to you. You should act sooner rather than later.

2 Answers | Asked in Securities Law for California on
Q: I was accused of shoplifting and I saw the security guard placing the "stolen" item underneath my car.

As I was on my way out from the store, opening my car, a security guard stops me and asks me about the jewelry. I tell him I don't have it and that I left them inside the fitting room. I offered to go back inside with him to show him exactly where I placed it and he declines saying "I am... Read more »

Deanna  Besbekos-LaPage
Deanna Besbekos-LaPage
answered on May 20, 2019

This is not a securities law question. I would post under a different category.

View More Answers

Q: Im having issuese with pay and placement with the security company called securitas in los angeles

My paychecks are short , missing or different pay rate. Also i was promise a bouns ... i now have no work beside i believe i asked about my bouns. Hr and their scheduling are no help, they just sent me in circles.

Ronald Mahurin
Ronald Mahurin
answered on Jan 21, 2019

Unfortunately this is not a workers comp question. I tried to find a way to flag the questions, but there were no options. You need to post in employment law. There is no remedy in workers comp. for what you have described.

View More Answers

1 Answer | Asked in Securities Law for California on
Q: Would this business require a money transmitter license or be exempt?

Based on FinCen determinations in FIN-2014-R004, R005 and R006, would this business process be considered an exemption from being a money transmitter?

Consumers that want to purchase products/services using cryptocurrency can pay us to make the purchase for them. They identify what they... Read more »

Alan Abergel
Alan Abergel
answered on Jan 11, 2019

You will need to retain an attorney to review your business model to determine if it is subject to FINCEN registration and regulation and/or other financial regulation. You may also be required to obtain a money transmission license from each state or country in which you conduct business and/or... Read more »

2 Answers | Asked in Securities Law for California on
Q: I know that there are federal securities laws, but are there any that are state-specific to California that differ from

the federal ones?

Alan Abergel
Alan Abergel
answered on Dec 11, 2018

There are many California securities laws (corporations code sections and regulations) that differ from federal securities laws.

The Corporate Securities Law of 1968 regulates all offers and sales of securities in California...
Read more »

View More Answers

2 Answers | Asked in Securities Law for California on
Q: My broker disappeared after I discovered fraudulent misrepresentations associated with my account. Who do I sue if I

don't know his current whereabouts?

Steve A. Buchwalter
PREMIUM
Steve A. Buchwalter
answered on Nov 20, 2018

If there is wrongdoing, the brokerage firm he was associated with would be responsible.

View More Answers

1 Answer | Asked in Securities Law for California on
Q: What do securities lawyers do exactly?
Tim Akpinar
Tim Akpinar
answered on Nov 10, 2018

They work with matters involving stocks, bonds, and other financial instruments.

Tim Akpinar

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.