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Securities Law Questions & Answers
Q: My broker misrepresented several things to me that I luckily realized before I lost any money. Can I still sue him?
Steve McCann's answer
Yes, it is certainly possible you have a viable cause of action against your broker, but the chances of obtaining a judgment and recovering on that judgment is dependent on very specific facts that are not provided here, such as details of any contracts you have signed with the broker, and the specificity of the misrepresentations made. That being the case, I highly recommend organizing everything in your possession related to this matter, including all contracts signed and all evidence of...
Yes, it is certainly possible you have a viable cause of action against your broker, but the chances of obtaining a judgment and recovering on that judgment is dependent on very specific facts that are not provided here, such as details of any contracts you have signed with the broker, and the specificity of the misrepresentations made. That being the case, I highly recommend organizing everything in your possession related to this matter, including all contracts signed and all evidence of...
Q: I'm accredited investor in my country (Czech jurisdiction) but I'm by no means accredited according the US jurisdiction.
Terrence H Thorgaard's answer
I don't know that one has to be an "accredited investor" to invest in the U.S., no matter what your net worth. So you would probably have to follow the laws of the Czech Republic.
I don't know that one has to be an "accredited investor" to invest in the U.S., no matter what your net worth. So you would probably have to follow the laws of the Czech Republic.
Q: I am 100 primary beneficiary on several annuities and stock funds. Is it complicated to collect in event of death?
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.
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
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.
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: A few agents at my job were overpaid in which the amount showed as a 401K adjustment and not as gross income
1 Answer
| Asked
in
Tax Law, Business Law, Employment Law and Securities Law
for
Florida
on
Answered on Jan 25, 2018
Answered on Jan 25, 2018
Terrence H Thorgaard's answer
if they are correct and you were paid more than contractually required, they can probably withhold it from your pay.
if they are correct and you were paid more than contractually required, they can probably withhold it from your pay.
Q: I received a handgun as a gift, I'm 19 years old and live in Florida. Can I have it in my car?
1 Answer
| Asked
in
Criminal Law, Agricultural Law, Constitutional Law and Securities Law
for
Florida
on
Answered on Jan 19, 2018
Answered on Jan 19, 2018
Terrence H Thorgaard's answer
Yes, you can possess it and, as I advised you yesterday, you can have it in your car if it is "securely encased or is otherwise not readily accessible for immediate use". If it's in an unlocked glove box, it is arguably readily accessible for immediate use.
Also, as a former firearms safety instructor, I would suggest that it's safer to not have a round in the chamber of a semi-automatic handgun until you are ready to use it.
Yes, you can possess it and, as I advised you yesterday, you can have it in your car if it is "securely encased or is otherwise not readily accessible for immediate use". If it's in an unlocked glove box, it is arguably readily accessible for immediate use.
Also, as a former firearms safety instructor, I would suggest that it's safer to not have a round in the chamber of a semi-automatic handgun until you are ready to use it.
Q: I see on the internet people who are 18 and dating minors from 14-17 is it illegal in California?
Q: I'm 19 years old in Florida. I received a handgun as a gift. Am I allowed to have it in my car for self defense?
1 Answer
| Asked
in
Gov & Administrative Law, Securities Law and Criminal Law
for
Florida
on
Answered on Jan 18, 2018
Answered on Jan 18, 2018
Terrence H Thorgaard's answer
Yes. See Florida Statute 790.25 (5):
"POSSESSION IN PRIVATE CONVEYANCE.—Notwithstanding subsection (2), it is lawful and is not a violation of s. 790.01 for a person 18 years of age or older to possess a concealed firearm or other weapon for self-defense or other lawful purpose within the interior of a private conveyance, without a license, if the firearm or other weapon is securely encased or is otherwise not readily accessible for immediate use. Nothing herein contained prohibits...
Yes. See Florida Statute 790.25 (5):
"POSSESSION IN PRIVATE CONVEYANCE.—Notwithstanding subsection (2), it is lawful and is not a violation of s. 790.01 for a person 18 years of age or older to possess a concealed firearm or other weapon for self-defense or other lawful purpose within the interior of a private conveyance, without a license, if the firearm or other weapon is securely encased or is otherwise not readily accessible for immediate use. Nothing herein contained prohibits...
Q: I have bond's that are in deceased parents name. how can I cash them in?
Mr. James Parrish Coleman's answer
You will probably have to open an estate. Depending on your facts, you may be able to open the estate under the small estates act of the Probate Code. See a lawyer in your county who is familiar with probate matters.
You will probably have to open an estate. Depending on your facts, you may be able to open the estate under the small estates act of the Probate Code. See a lawyer in your county who is familiar with probate matters.
Q: I am looking for an atty, 1) admitted to federal court, to file a suit against a forensic accountant, I have the proof
1 Answer
| Asked
in
White Collar Crime, Estate Planning, Securities Law and Broker Fraud
for
Alabama
on
Answered on Jan 13, 2018
Answered on Jan 13, 2018
Samuel G McKerall's answer
I'm sure you can find an attorney who will consider taking your case, if you look hard enough and if your case has merit. An attorney can sue the accounting firm, the trustee and the trust attorney. He or she cannot file criminal charges, or even threaten to file criminal charges, and cannot sue the E&O carrier. If a person or company with E&O insurance is sued, they contact their E&O carrier, who may or may not step in and defend.
WARNING: I am not your lawyer and providing you...
I'm sure you can find an attorney who will consider taking your case, if you look hard enough and if your case has merit. An attorney can sue the accounting firm, the trustee and the trust attorney. He or she cannot file criminal charges, or even threaten to file criminal charges, and cannot sue the E&O carrier. If a person or company with E&O insurance is sued, they contact their E&O carrier, who may or may not step in and defend.
WARNING: I am not your lawyer and providing you...
Q: Borrowe $75M from sister When repaid does she owe IRS No interest paid
1 Answer
| Asked
in
Real Estate Law, Securities Law and Tax Law
for
Ohio
on
Answered on Dec 22, 2017
Answered on Dec 22, 2017
Joseph Jaap's answer
The IRS can impute interest to a loan, even if no interest is charged or paid to the lender, and tax might be owned on that amount of imputed interest. Ask a tax advisor.
The IRS can impute interest to a loan, even if no interest is charged or paid to the lender, and tax might be owned on that amount of imputed interest. Ask a tax advisor.
Q: I have a small startup that some friends/family want to invest in.
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...
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: A year ago my father took my laptop to try and get it fixed. He gave it to a man that he found online.
1 Answer
| Asked
in
Criminal Law, Products Liability, Insurance Defense and Securities Law
for
New Jersey
on
Answered on Dec 13, 2017
Answered on Dec 13, 2017
H. Scott Aalsberg Esq.'s answer
Best bet is to hire a PI to find the guy if it is important to you, then you can determine what your best options are. If you can't find the guy you can't really do much. He did not steal the laptop and may have tried to contact you and he may say you did not pay for the services rendered etc, etc.
Best bet is to hire a PI to find the guy if it is important to you, then you can determine what your best options are. If you can't find the guy you can't really do much. He did not steal the laptop and may have tried to contact you and he may say you did not pay for the services rendered etc, etc.
Q: Can a landlord legally ask a tenant for more money after withholding a security deposit on a rental agreement?
Joseph Jaap's answer
You can request receipts. But if you don't pay, the landlord could sue you for the repair amount in small claims court if under $6000, and you could then go to court and dispute the amount the landlord claims. But the landlord might not sue, and instead could make an adverse entry on your credit report, lowering your credit score and making it more difficult to rent from a landlord who checks your credit. So you might consider working it out.
You can request receipts. But if you don't pay, the landlord could sue you for the repair amount in small claims court if under $6000, and you could then go to court and dispute the amount the landlord claims. But the landlord might not sue, and instead could make an adverse entry on your credit report, lowering your credit score and making it more difficult to rent from a landlord who checks your credit. So you might consider working it out.
Q: (S-Corp ) Cal. We want to offer up to 5% in Preferred stock in return for performance. What doc would i need to draft?
1 Answer
| Asked
in
Contracts, Business Law and Securities Law
for
California
on
Answered on Oct 21, 2017
Answered on Oct 21, 2017
Sagar Parikh's answer
You can do an employment agreement or consulting agreement with this person, assuming that you've already issued shares.
A full consultation would be necessary to properly advise you.
You can do an employment agreement or consulting agreement with this person, assuming that you've already issued shares.
A full consultation would be necessary to properly advise you.
Q: Does unvested stock always implies that person employed by the company?
1 Answer
| Asked
in
Business Formation, Business Law, Employment Law and Securities Law
for
Virginia
on
Answered on Oct 15, 2017
Answered on Oct 15, 2017
Salim U. Shaikh's answer
Provided that person carry a specific authorization to that extent in order to avoid any possible scam.
Provided that person carry a specific authorization to that extent in order to avoid any possible scam.
Q: All bank accounts have both me and painters SS # on it. How does it get split on ones death with a will?
1 Answer
| Asked
in
Estate Planning, Family Law, Probate and Securities Law
for
Massachusetts
on
Answered on Oct 13, 2017
Answered on Oct 13, 2017
Lillian J. LaRosa's answer
Generally the survivor becomes the owner of the account and it is not part of the probate estate which is governed by the Will, but you should consider clarifying that this is the case in your Will by so stating that the account is not intended to be divided as part of the estate but is a survivorship joint account.
Generally the survivor becomes the owner of the account and it is not part of the probate estate which is governed by the Will, but you should consider clarifying that this is the case in your Will by so stating that the account is not intended to be divided as part of the estate but is a survivorship joint account.
Q: How much is a declaration? Of heir in texas and is it able to be deducted from a settlement with the comptroller?
1 Answer
| Asked
in
Banking, Energy, Oil and Gas, Probate and Securities Law
for
Texas
on
Answered on Oct 11, 2017
Answered on Oct 11, 2017
Tammy Lyn Wincott's answer
I suggest you have an in-person consultation with an attorney. It's a time-consuming job to review all the appropriate facts and advise you accordingly; therefore, you will probably be charged for the consultation.
I suggest you have an in-person consultation with an attorney. It's a time-consuming job to review all the appropriate facts and advise you accordingly; therefore, you will probably be charged for the consultation.
Q: California Securities Law Question: I am the sole shareholder of a British Virgin Island Corp that sells Crypto
1 Answer
| Asked
in
Banking, Business Law, Consumer Law and Securities Law
for
California
on
Answered on Oct 5, 2017
Answered on Oct 5, 2017
William John Light's answer
This is a complex question which is not suitable for a quick and free response on an anonymous internet forum. Hire a securities/tax attorney for a full analysis.
This is a complex question which is not suitable for a quick and free response on an anonymous internet forum. Hire a securities/tax attorney for a full analysis.
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