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California Securities Law Questions & Answers

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 not... Read more »

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

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

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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 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.

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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 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 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...
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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 answered on Nov 20, 2018

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

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1 Answer | Asked in Securities Law for California on

Q: What do securities lawyers do exactly?

Tim Akpinar answered on Nov 10, 2018

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

Tim Akpinar

1 Answer | Asked in Securities Law for California on

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

T. J. Jesky answered on Oct 20, 2018

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....
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1 Answer | Asked in Securities Law for California on

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

Steve A. Buchwalter answered on Sep 14, 2018

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

1 Answer | Asked in Securities Law for California on

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

T. J. Jesky answered on Sep 12, 2018

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... Read more »

1 Answer | Asked in Securities Law for California on

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

Steve A. Buchwalter answered on Jul 17, 2018

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.

1 Answer | Asked in Tax Law and Securities Law for California on

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

A tax lien was placed on my assets, then released, without my knowledge. My new employer wants me to have this recorded on my U4. Is there any way I can keep it off my U4?

Steve A. Buchwalter answered on Apr 25, 2018

Yes. Pursuant to question 14m on the form U4, only unsatisfied liens need to be reported.

1 Answer | Asked in Securities Law for California on

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

all?

Steve A. Buchwalter answered on Apr 25, 2018

The SEC does not regulate bitcoin. As far as I know, nobody does.

1 Answer | Asked in Securities Law for California on

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

Steve A. Buchwalter answered on Apr 25, 2018

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.

2 Answers | Asked in Securities Law for California on

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

Steve A. Buchwalter answered on Apr 25, 2018

You can go after his firm. If there is a fraud, the broker's firm would be responsible.

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1 Answer | Asked in Criminal Law, Divorce and Securities Law for California on

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?

She took out and defaulted on 4 loans using the account as collateral so the bank is wanting to pay off the loans and then split the remainder.

Dale S. Gribow answered on Apr 2, 2018

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...
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1 Answer | Asked in Business Law and Securities Law for California on

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

specifically in terms of what they can or cannot do with startup capital.

Jonathan R. Roth answered on Mar 22, 2018

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... Read more »

1 Answer | Asked in Securities Law and Estate Planning for California on

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

I have a brother in prison who is trying to manipulate father. By drawing up his own version of will and presenting it to him

Richard Samuel Price answered on Feb 2, 2018

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.

1 Answer | Asked in Criminal Law, Internet Law and Securities Law for California on

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

My ex wife is claiming that while she said in an email that she would return my computer after she backed up her files, I had previously told her via text that she should keep the hard drives. Her intent is to access the hard drives' data, including ten years worth of my data, and copy whatever... Read more »

Dale S. Gribow answered on Jan 31, 2018

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.

1 Answer | Asked in Securities Law and Criminal Law for California on

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

Dale S. Gribow answered on Jan 18, 2018

the issue kicks in when they are having sex? if so then it is stat rape

1 Answer | Asked in Securities Law for California on

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

Do securities laws apply to the sale of stock to friends/family?

Reno F.R. Fernandez III answered on Dec 20, 2017

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...
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