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Trading of Short- Term Unit Investment Trusts Ends with Suspension and Fines

By Tom Costello of Costello Law Group FINRA suspended ex LPL broker, Mark Tauzin, from the securities industry for eight months for unsuitable short-term trading of unit investment trusts (UITs). FINRA alleged the short term trading was for the purpose of generating excessive commissions. FINRA ordered Tauzin to repay clients $205,000 plus interest […]

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Marital Deduction for Same-Sex Couples

On behalf of Thomas Costello of Costello Law Group  Although voters in Maryland and other states approved a referendum legalizing same-sex marriage last November, same sex couples’ future ability to take advantage of the marital deduction under Federal estate tax law is unclear. In Windsor v. United States, the surviving spouse in a same-sex […]

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FINRA files for Cease-and-Desist Order Against Westor Capital Group for Misappropriation and Misuse of Customer Funds and Securities

On behalf of Thomas Costello of Costello Law Group On January 23, 2013, the Financial Industry Regulatory Authority (FINRA) filed a temporary cease-and-desist order against Westor Capital Group (Westor) and its President, Richard Hans Bach, to immediately stop the further misappropriation and misuse of customer funds and securities. In addition to the cease-and […]

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The American Taxpayer Relief Act of 2012

On behalf of Thomas Costello of Costello Law Group Earlier this month, Congress passed the American Taxpayer Relief Act of 2012 which extends many of the Bush-era tax cuts and provides some much needed stability to the federal estate, gift and generation-skipping transfer tax law. Below is a brief synopsis of the current […]

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FINRA Elects 3 New Governors

On behalf of Thomas Costello of Costello Law Group On Monday, August 13, 2012 FINRA announced the appointment of 3 new governors to its 22 person board. The new governors include Seth Waugh, CEO of Deutsche Bank Americas, who represents the organization’s large firms; W. Dennis Ferguson, executive vice president and director of […]

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FINRA Awards UPDATE: ARBchek (UA 2012-31)

On behalf of Thomas Costello of Costello Law Group UA edition 2012-31 contains 27 awards. To view all of this week’s Awards click here. Selected Awards of Interest in UA edition 2012-31: Little v. Stevens, FINRA ID # 11-00086 (Birmingham, AL, 7/30/2012) – Liability regarding a cattle call of Respondents […]

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