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California Securities Law Questions & Answers
1 Answer | Asked in Civil Litigation, Civil Rights, Gov & Administrative Law and Securities Law for California on
Q: remote appearance/cour call records are materal to an action , are these records available to the public without Subp ?

How does someone obtain the court call Log for ? Is a Subpoena required ?

James L. Arrasmith
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answered on May 25, 2024

Under California law, remote appearance and court call records are generally considered part of the official court record. However, public access to these records may be limited and vary depending on the specific court and type of case.

To obtain the court call log, you typically have two...
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1 Answer | Asked in Contracts, Civil Litigation, Insurance Bad Faith and Securities Law for California on
Q: What would a cause of action be if an ins co rescinded changes an owners POA made w/out serving Notice of Rescission 1st

The ins company had to know or at very least became aware of the fact service of Notice of Rescission prior to exercising rescission is a California statutory requirement,"no Notice, no rescission." Americo was repeatedly asked to provide the citation, code or case law relied on to... View More

James L. Arrasmith
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answered on May 22, 2024

Based on the information provided, it seems that the insurance company (Americo) rescinded changes made by the policy owner through a Power of Attorney (POA) without properly serving a Notice of Rescission as required under California law. This action by the insurance company could potentially give... View More

2 Answers | Asked in Consumer Law, Securities Law, Stockbroker Fraud and White Collar Crime for California on
Q: I was one of the 19 investors in the USA vs Hewko case (2:19-cv-09736-FLA-AFM), How do I stay updated on this case?
James L. Arrasmith
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answered on Apr 11, 2024

To stay updated on the USA vs Hewko case (2:19-cv-09736-FLA-AFM), you have a few options:

1. PACER (Public Access to Court Electronic Records): As one of the investors in the case, you can register for a PACER account at https://pacer.uscourts.gov/. This will allow you to access case...
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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
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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
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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
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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

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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
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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

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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
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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
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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
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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 Criminal Law, Federal Crimes, Contracts and Securities Law for California on
Q: Federal Sec/Inv fraud restitution judgement, why the thieves aren't punished? Not forced payments, no prison, US allows?

$100+ million stolen from 1000 US investors, 15 yrs case, no pmts on restitution judgements, Judge allowed home arrest literally 2 yrs, FED GOVT ACCOUNTABILITY OFFICE investigated and publicized lack of DOJ/FBI/SEC/BOP enforcement/victims rights, MANY OTHER VICTIM US COMPENSATION organizations... View More

James L. Arrasmith
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answered on Sep 22, 2024

It can be incredibly frustrating when justice seems delayed or incomplete, especially in cases involving large-scale fraud. Restitution can take years to enforce, and unfortunately, sometimes those convicted don't make the payments ordered by the court. Even though laws are in place to protect... View More

2 Answers | Asked in Estate Planning, Probate and Securities Law for California on
Q: Please help. My son passed away 6 months ago. How do I access his treasury direct account. I need to know how to access

I am unsure or unaware of the specifics as my ex-husband took care of most of the financial details. He is also deceased and I am left in the dark on this. How do I go about accessing his account?

James L. Arrasmith
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answered on Sep 11, 2024

I’m sorry to hear about your loss. To access your son’s TreasuryDirect account, you’ll need to provide proof of your identity and your son’s death certificate. TreasuryDirect has specific forms, such as FS Form 5336, which is used to request distribution of a deceased owner’s account. You... View More

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1 Answer | Asked in Securities Law and Stockbroker Fraud for California on
Q: Is there any oversight on attorneys who file false cases purely for financial gain?

Is there any oversight on attorneys who file false cases purely for financial gain? I recently learned about an attorney who has filed numerous wrongful foreclosure cases in two counties within months after a trustee sale.

James L. Arrasmith
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answered on Aug 26, 2024

Yes, there is oversight for attorneys who file false cases purely for financial gain. In California, the State Bar of California regulates attorney conduct and can investigate complaints related to unethical behavior, including filing frivolous lawsuits. Attorneys who engage in unethical practices... View More

1 Answer | Asked in Securities Law for California on
Q: Can I receive any compensation for the National Public Data breach?
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answered on Aug 21, 2024

If you were affected by the National Public Data breach, you may be entitled to compensation depending on the specifics of the case. Typically, in data breach incidents, victims can seek compensation through legal actions such as class action lawsuits or settlements. The compensation might cover... View More

1 Answer | Asked in Identity Theft and Securities Law for California on
Q: is it legal to download the NPA data leak to see if I am on it? I would not distribute it or use it in any other way.
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answered on Aug 20, 2024

It's understandable to be concerned about your information after a data leak. However, downloading data from a leak, even if your intentions are just to check if you're affected, can have legal consequences. Accessing such data without proper authorization is generally illegal, and you... 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
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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

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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...
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