Get free answers to your Securities Law legal questions from lawyers in your area.
Hi, I am conducting some legal research for my firm. I am being asked to determine whether an CFP and Enrolled Agent has individual liability for alleged breach of fiduciary duty/breach of contract?
the situation is that a client is suing the accounting firm for breach of contract, breach... View More
answered on Jun 24, 2024
There is a reason you are being asked to do this research.
Some courts have held that a financial advisor can, but does not necessarily, owe fiduciary duties to a client. Other courts have held that, like all agents, a financial advisor does generally owe fiduciary duties to a client.... View More
-Attended seminar for Medicare/Social Security in Feb 2023
-Met with RetPlnr in office who also began to discuss retirement planning during the initial visit
-RetPlnr informed of us annuities available that we may be interested in
-RetPlnr noted they worked on commission... View More
answered on Jul 28, 2023
A retirement planner and an insurance broker are two very different occupations. A retirement planner usually provides financial advice to customers on an hourly fee basis. Retirement planners typically do not directly sell financial products, including insurance annuities. They may, however,... View More
I have reason to believe I am at the center of their investigation - it involves a significantly large public company. I have been told by friends that the "voluntary" nature of their inquiry is a "test" to see if I will cooperate and I have reason to believe this will not just... View More
answered on Jul 8, 2023
This is like making voluntary statements during a traffic stop. Just don't do it. Name, address, and DL, and then STFU.
Remember, "Nobody ever got into trouble for what they do not say" and in this case do not voluntarily provide. I you do not supply how can you get into... View More
I'm an investor with 14 years experience. My friends and family all want my help because I've made excellent returns but it is my understanding that I can't help them, because I'm not a financial advisor, and they could sue me if they lost money (is that even true?). So I want... View More
answered on Dec 3, 2022
Forming a brokerage firm like this and creating a bond to offer to members of the public is a relatively complex endeavor.
You need to contact a business formation attorney who handles SEC regulated securities firms to avoid potential criminal legal problems
My mom has several accounts with an investment firm that she has had for over 25 years. She withdraws money as needed without any issue. However, the last time she made a request for a withdrawal, she was told her funds were frozen and after speaking with her broker, was told that she would need to... View More
answered on Sep 2, 2024
I am unable to adequately evaluate this situation based on the facts provided, however the facts do suggest that the situation warrants further investigation. If you would like a no charge evaluation of your potential case please contact Nan Thompson at my office.
In 10 months, Sister took over 100K with out mom's permission. When mom, who is 81, noticed she closed the account. Any legal action we can take? Mom is really stressed.
answered on Aug 8, 2024
Mom can sue Sister for any money taken out without mom's permission. If Sister used the money to buy or pay for a tangible asset, mom may be able to impose a constructive trust on that asset to help ensure repayment of the money taken.
I am the Beneficiary for the investments my ex-wife made she passed away in2019 her executive of the will told me that she gave everything to her Granddaughter I asked for the paperwork and he told me that I was trying to dig up dirt on my ex-wife. Can he override the Beneficiary for investments
answered on Feb 28, 2022
Your divorce eliminated your name as beneficiary on investments. Investments like a mutual fund or stock are allowed to have a "pay on death" or a "transfer on death" designation. Sometimes the accounts will be in both names, with a "right of survivorship". The goal of... View More
Purchased a vehicle yesterday, submitted proof of income (check stubs) as well as contact information to my corporate office to verify employment. Finance company contacts me to say no one was answering the phone at corporate, so I gave her an email address to send the verification. With the... View More
answered on Oct 15, 2021
While I agree that they sent more information than was probably necessary, you don't have any apparent damages as a result of this action, and no claim arises from the facts you describe.
SEC rule 506(c) mandates only accredited investors are eligible to contribute to the funds. So can non-accredited investor form an LLC to obtain accredited status? If yes, what are the terms and conditions that one should be aware off?
answered on Apr 18, 2021
Either you are accredited or not! The issuer is not going to risk losing a safe-harbor exemption for registration to take on an unaccredited investor. And they it tells you otherwise, watch out!!
answered on Mar 1, 2021
Contrary to popular belief, Puerto Rico IS part of the US, even though it's not a state. It's a US territory, and you don't even need a passport to travel to and from there from any other part of the country.
I have my 401K and a 529 account with Charles Schwab. I opened a new acct on the 25th of Sept to attempt to trade. On the 6th they blocked my account for "fraudulent" reasons and the investigative team we supposed to call back within 48 hrs to discuss the matter. After several calls for... View More
answered on Oct 12, 2020
You need to put them on Notice in writing of your objection to the freeze, remind them you have open positions and your intention to sue them for any and all damages unless they take your orders and unfreeze the account or hire an attorney to do that immediately.
answered on May 1, 2020
That's terrible. I recommend that you find an attorney in Texas to help you. There is an organization called PIABA made up of lawyers who represent investors. Here is the website. https://piaba.org. You can search for a local lawyer on the website. Good luck.
I need to refile this in the Texas Secretary of State.... I need Instructions how to transfer this into the UCC Financial Filing Dept.
answered on Apr 29, 2020
The recording information looks like it's a real property recording. You can pull the information here:
https://walkertx.search.kofile.com/48471/Home/Index/1
Good luck.
answered on Sep 27, 2019
Your question remains open for three weeks, and at this point, if you haven't already, consult with a Texas attorney. This sounds more like a real property matter than one about securities or civil rights. At any rate, the category is not really important at this point. It appears to be... View More
My attorney and my lenders attorney signed an agreed order revoking a substitute trustee sale snd ejoining them from non judicial foreclosure on a certain date. A year after they sell my house. Should the Agreed Order stopped them? Will that fact affect it now because it was supposed to resolve... View More
answered on Mar 27, 2019
Before you attempt to assert my answer as being 100% correct, I need to advise you either to read the entire "Agreed Order" and figure it out yourself, or ask your current lawyer, or hire a different Texas lawyer to explain what appears to have happened in your old foreclosure case.... View More
Its my second cousin. Had no kids. My dads cousin. Mu aunt took carebif this many years ago after his suicide and failed to find a number of open accounts and what not. Ive not had comyavt with her in at k1east 3 yrs or more and havent spokennto my cousins, her kids in even longer. I always stayed... View More
answered on Oct 11, 2017
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.
Had someone hack my twitter account and I have proof of them even saying they did . Just wanna know if it's illegal and what are the consequences in the state of Texas
answered on Jul 17, 2017
Yes it is illegal, see the Texas Penal Code Chapter 7, Section 33. The penalties for computer crimes are of a wide variety depending on the nature and seriousness of the crime committed. For the breach of computer security (i.e. gaining access to a computer without the consent of the owner), the... View More
My family and I are planning to take a roadtrip to California and are planning on taking a friend with us who is in the process of getting his green card. He has a receipt from paying for his application. Is it okay to cross checkpoints going from state to state? Is he allowed to travel within the... View More
answered on Jun 28, 2017
Under what section of the law is this student entitled to get a green card? Your question does not show that he is eligible for one at all. Even if he is, merely filing for a green card does not confer any legal status in the United States unless the applicant is in this country with some other... View More
Yesterday I got the news that the seller has agreed and signed on my offer to purchase a condo. Then today I get a call that he was under the influence of pain medication from yesterday morning's doctor's visit and that he does not remember agreeing to the contract. Can this contract... View More
answered on Apr 7, 2016
It is difficult to give an accurate answer to this question without knowing all the details of your case. Generally, for example, a person may argue that a contract is voidable because he did not have the capacity or legal ability to enter the contract due to being under the influence of drugs or... View More
I and three of my partners are registering as Investment Advisors, exam scheduled soon and want to know - can we register "lots' of hedge funds to get around the max 35 non-accredited investors rule? Are we allowed to advertise the hedge fund via email, online etc..? Do we have to... View More
answered on Aug 11, 2015
If you're going to be running a hedge fund, you should be consulting with a qualified securities lawyer about not just this question but in general making sure you are in compliance with applicable laws.
Please Take Notice: I am not your lawyer unless we enter into an engagement... View More
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