California Securities Law Questions & Answers

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

3 Answers | Asked in Employment Discrimination, Employment Law, Securities Law and Workers' Compensation for California on
Answered on Jan 21, 2019
Ronald Mahurin's answer
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.

Q: Would this business require a money transmitter license or be exempt?

1 Answer | Asked in Securities Law for California on
Answered on Jan 11, 2019
Alan Abergel's answer
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 serve its customers. For example, California licenses and regulates its money transmitters through the Department of Business Oversight. There may be other financial (or other business industry)...

Q: I know that there are federal securities laws, but are there any that are state-specific to California that differ from

2 Answers | Asked in Securities Law for California on
Answered on Dec 11, 2018
Alan Abergel's answer
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

https://leginfo.legislature.ca.gov/faces/codes_displayexpandedbranch.xhtml?tocCode=CORP&division=&title=4.&part=&chapter=&article=

California Department of Business Oversight administers and enforces the Corporate Securities Law of 1968 (including...

Q: My broker disappeared after I discovered fraudulent misrepresentations associated with my account. Who do I sue if I

2 Answers | Asked in Securities Law for California on
Answered on Nov 20, 2018
Steve A. Buchwalter's answer
If there is wrongdoing, the brokerage firm he was associated with would be responsible.

Q: What do securities lawyers do exactly?

1 Answer | Asked in Securities Law for California on
Answered on Nov 10, 2018
Timur Akpinar's answer
They work with matters involving stocks, bonds, and other financial instruments.

Tim Akpinar

Q: Can you explain what a "triggering event" is? I keep seeing the term.

1 Answer | Asked in Securities Law for California on
Answered on Oct 20, 2018
T. J. Jesky's answer
A triggering event refers to an occurrence that, once breached or met, it causes another event to take place. Triggering events are written into contracts to prevent or ensure that if something happens the next event will happen.

For example, you want to buy a newspaper at a news stand. When you pay the vendor the price of the newspaper, the triggering event takes place, he hands the newspaper over to you.

If you don't pay your rent, the triggering event takes place, the...

Q: Options were about to vest but the company went into bankruptcy, what do I do?

1 Answer | Asked in Securities Law for California on
Answered on Sep 14, 2018
Steve A. Buchwalter's answer
If your options are in the money, you may want to exercise them. If a stockbroker recommended the options without warning you about the companies financial condition, you may be able to sue. You'll need to talk to an attorney.

www.securitieslaw-attorney.com

Q: We'd like to issue shares in our company - do all the officers need to sign off?

1 Answer | Asked in Securities Law for California on
Answered on Sep 12, 2018
T. J. Jesky's answer
When a Company issues shares, the "corporate formally" to do so, is a Board Resolution. In other words, it is the Board of Directors through a Board Resolution that authorizes the issuance of shares from the Corporate Treasury. It is not the officers but the Board of Directors who have this power. Generally, shares are issued because: 1) someone provided services to the Company; 2) someone signed a subscription agreement and wants to purchase shares in the Company, the funds to the...

Q: What's the very first thing I should do if I have believe I have a securities claim?

1 Answer | Asked in Securities Law for California on
Answered on Jul 17, 2018
Steve A. Buchwalter's answer
Gather all your documents and put them is a safe place. Call an attorney to go over your case. Any attorney you talk to may ask you to write up a narrative (your story) as to what happened. It may be a good idea to start on that.

Q: I am a FINRA registered representative with several securities licenses and had a tax lien.

1 Answer | Asked in Tax Law and Securities Law for California on
Answered on Apr 25, 2018
Steve A. Buchwalter's answer
Yes. Pursuant to question 14m on the form U4, only unsatisfied liens need to be reported.

Q: How does the SEC deal with people who want to cash out millions of dollars they earned via Bitcoin? Is that regulated at

1 Answer | Asked in Securities Law for California on
Answered on Apr 25, 2018
Steve A. Buchwalter's answer
The SEC does not regulate bitcoin. As far as I know, nobody does.

Q: If I ask my broker if he's been previously sued for securities fraud, must he tell me the truth?

1 Answer | Asked in Securities Law for California on
Answered on Apr 25, 2018
Steve A. Buchwalter's answer
Yes. They are required to disclose such things. You can check for yourself if you go to www.finra.org and type your broker's name in the "Brokercheck" box.

Q: What should I do if I believe I have a valid securities fraud claim, and my broker has gone totally MIA?

2 Answers | Asked in Securities Law for California on
Answered on Apr 25, 2018
Steve A. Buchwalter's answer
You can go after his firm. If there is a fraud, the broker's firm would be responsible.

Q: i was awarded half of my wife's 403.b in our divorce. Now she won't sign the bank papers to do the split. What can i do?

1 Answer | Asked in Criminal Law, Divorce and Securities Law for California on
Answered on Apr 2, 2018
Dale S. Gribow's answer
need more facts

the first thing i would do is to contact the lawyer who worked on the divorce.

she appears to be in default of a court order.

you may have to go back to court to ask court to find her in contempt

if you did not retain a family law atty do so as that is not my area of law.

Q: what differences are there between NY and CA laws governing VCs ?

1 Answer | Asked in Business Law and Securities Law for California on
Answered on Mar 22, 2018
Jonathan R. Roth's answer
More information is needed to answer your question. Most VC firms manage funds they create using investors money. In creating those funds they have to comply with SEC rules as well as state rules to the extent they apply. As to the use of the funds that is dictated by the terms of the fund and the agreement governing the investments and the payment of expenses. There are rules governing the fees one can take from investment funds.

If your company is a VC fund, then the limitations...

Q: I am 100 primary beneficiary on several annuities and stock funds. Is it complicated to collect in event of death?

1 Answer | Asked in Securities Law and Estate Planning for California on
Answered on Feb 2, 2018
Richard Samuel Price's answer
When a beneficiary is named on a financial account, those assets are transferred to the beneficiary when the beneficiary presents a death certificate. A will cannot change a beneficiary designation.

Q: If I told somebody they could have a computer hard drive, are they legally allowed to browse my personal data?

1 Answer | Asked in Criminal Law, Internet Law and Securities Law for California on
Answered on Jan 31, 2018
Dale S. Gribow's answer
if you gave it to her you probably should have thought of that then.

you can contact a lawyer to send a demand letter for the return of the drive.

Q: I see on the internet people who are 18 and dating minors from 14-17 is it illegal in California?

1 Answer | Asked in Securities Law and Criminal Law for California on
Answered on Jan 18, 2018
Dale S. Gribow's answer
the issue kicks in when they are having sex? if so then it is stat rape

Q: I have a small startup that some friends/family want to invest in.

1 Answer | Asked in Securities Law for California on
Answered on Dec 20, 2017
Reno F.R. Fernandez III's answer
Good question. The short answer is "yes." Some of the federal and state securities laws apply to all equity investments regardless of the status of the investor.

However, some investments are exempt from registration, which simplifies things and saves costs. For example, private offerings of stock are exempt from registration under Section 506(b) of the Securities Act of 1933. Such private placements are exempt from registration under California state law pursuant to Corporations...

Q: I want to file a securities class action lawsuit. Is the company in which I own stock required to give me the names of

1 Answer | Asked in Securities Law for California on
Answered on Nov 11, 2017
Louis George Fazzi's answer
You need to consult with a law firm which handles class actions.

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