NYC is the epicenter of the USA when it comes to finances. Wall Street banks in NYC are blamed by the media, and court opinion, for the crisis of 2008. New laws, regulations, restrictions, and obligations have been placed on the banking industry as a result. Violations of laws regulating banks, brokerage firms, and trading securities, can result in criminal and civil penalties. Securities and investment fraud results in federal criminal charges, in addition to the cases being among some of the most complex in the justice legal system. Those accused of committing stock broker fraud specifically, should consult with NYC stock broker fraud attorneys who can help them.
There are eight different federal laws that have been passed which govern the securities industry. These regulations govern broker behavior, in addition to financial institutions, companies, and other institutions.
Many securities fraud cases arise out of Section 10b and Rule 10b-5 of the securities act of 1934. Section 10b is the antifraud provision in the 1934 securities act. This has been used to take legal actions in cases that involve insider trading, misleading company filings, and more. Rule 10b-5 prohibits any device, scheme, or artifice, which has a purpose to defraud. Under 10b-5, liabilities can arise from omissions, or misstatements of facts which investors would believe are important in their decision to buy and sell certain stock. These are the rules which are often used by prosecutors to sue brokers, companies, and others. These regulations have been used to help investors sue brokers who were entrusted with funds and committed a breach of fiduciary duty. Our NYC stock broker fraud defense lawyers can help you fight these charges.
US Code Section 3301 defines federal securities fraud offenses that include a violation of the following codes:
Under 18 U.S. Code Section 1348 criminal penalties are imposed for securities and commodities fraud. Under this code, you can be fined and sentenced up to 25 years in prison for knowingly committing, or attempting to commit, a scheme to defraud investors:
Section 32(a) of the Securities and Exchange Act has the following penalties:
Section 24 of the 1933 Securities act imposes up to 5 years in jail, and fines up to $10,000 or more for making false statements on required registration statements and for other violations of the rules and regulations.
Section 325 of the trust indenture act imposes penalties that include up to 5 years in jail, and fines up to $10,000 for bond issuers.
Section 217 of the Investment Advisors Act imposes penalties of up to 5 years incarceration and fines up to $10,000 for violations of the Act Rules and Act regulations. Section 49 of the Investment Company Act establishes the same penalty for certain violations of rules and regulations when it comes to mutual funds and other organizations who are selling their own securities to investors.
Raiser & Kenniff, PC, has helped financial institutions, investment advisors, stock brokers, and other clients who are accused of securities fraud offenses. Our New York stock broker fraud attorneys know fraud laws, and can help with all forms of investigations into fraudulent behavior.
Todd is a miracle worker who will work tirelessly for you and your family. He is one of the few attorneys i've met - who I earnestly trust to protect me, and who I am happy to refer to our friends and fellow family members. The Spodek Law Group is someone you want on your side, because they will treat you just like family. Todd and his team are available 24/7, and they always answered our calls. Even when we were being irrational, and crazy - they were calm and super helpful. Just call Todd. He gives you a free consultation and is very understanding.- Donna & Robert
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