Broker-Dealer Law & Regulation provides authoritative analysis and practical guidance needed to advise clients on their duties and liabilities under today's far-reaching securities regulations. From duties under the common law, to obligations imposed by the federal securities statutes, this guide covers the full range of the law that governs the relationship between broker-dealers and their customers.
Written by two of America's leading securities authorities, Norman S. Poser and James A. Fanto, Broker-Dealer Law and Regulation offers reliable guidance on the latest federal and state law governing private litigation and arbitration between broker-dealers and their customers, as well as regulation by the SEC, NASD, and NYSE.
The fourth edition of Broker-Dealer Law and Regulation represents a very substantial reorganization and expansion from the prior edition, reflecting the growth of the securities industry and of its regulation, in both size and complexity, during the first years of the twenty-first century. The most important change in the Fourth Edition is the greatly increased emphasis that it gives to regulation and compliance. Among other things, this publication has vastly expanded its coverage of broker-dealer registration and the registration process, recordkeeping and reporting, and examination requirements; exemptions from broker-dealer registration for banks and other financial institutions; privacy and anti-money laundering rules applicable to the firms; and financial and capital regulation. In addition, new chapters have been added on the structure of the securities markets, the regulation of broker-dealers in public offerings, and SEC and SRO enforcement; and new sections have been added on margin regulation, regulation of hypothecation and lending of securities, and voidable contracts
The fourth edition includes:
Benefits and Features
Whether you represent a brokerage firm or a securities dealer, an employee of the firm, or a customer, you'll find insightful analysis of the law, and practical, expert advice on such crucial issues as:
Table of Contents
The fourth edition is structured in four parts:
Part A: Introduction contains Chapters 1-4
Chapter 1 The Economics and Structure of the Securities Industry
Chapter 2 Broker-Dealers Within Financial Conglomerates
Chapter 3 The Securities Markets
Chapter 4 An Overview of the Regulatory System
Part B: Regulation and Compliance contains Chapters 5-15
Chapter 5 Broker Registration and Exemptions
Chapter 6 Broker and Associated Person Registration Process
Chapter 7 Broker Recordkeeping and Reporting
Chapter 8 Privacy and Anti-Money Laundering
Chapter 9 The Duty to Supervise
Chapter 10 Compensation in the Securities Industry
Chapter 11 Electronic Trading and the Securities Industry
Chapter 12 Financial Regulation of Broker-Dealers
Chapter 13 Broker-Dealers in Public Offerings
Chapter 14 SEC and SRO Enforcement and Disciplinary Proceedings
Chapter 15 Penny Stock Regulation
Part C: Private Rights of Action contains Chapters 16-25:
Chapter 16 Liability of Broker-Dealers Under Common Law
Chapter 17 Fraud Generally
Chapter 18 Churning
Chapter 19 The Suitability Doctrine
Chapter 20 Unauthorized Trading
Chapter 21 Market Manipulation
Chapter 22 Conflicts of Interest and the Securities Industry
Chapter 23 Damages in Actions Against Broker-Dealers
Chapter 24 Defenses in Actions Against Broker-Dealers
Chapter 25 Vicarious Liability
Part D: Arbitration and Mediation contains Chapters 26-31:
Chapter 26 Securities Arbitration: The Legal Context
Chapter 27 The SRO Forums
Chapter 28 Arbitrability of Securities Disputes
Chapter 29 Arbitration Awards
Chapter 30 Judicial Review of Arbitral Awards
Chapter 31 Mediation