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Martin Act
The Martin Act (New York General Business Law article 23-A, sections 352–353) is a New York anti-fraud law, widely considered to be the most severe blue sky law in the country. Passed in 1921, it grants the Attorney General of New York expansive law enforcement powers to conduct investigations of securities fraud and bring civil or criminal actions against alleged violators of the Act. It was used infrequently until the early 2000s, when then-Attorney General Eliot Spitzer began using it to bring civil cases against Wall Street firms. It has since become the basis for a number of high-profile cases, including a 2002 investigation of Merrill Lynch for alleged conflicts of interest, and the 2012 suit against Bank of New York Mellon Corp. for allegedly defrauding customers through foreign currency transactions. Background The Martin Act was passed by the New York Legislature in 1921, bearing the name of its sponsor in the state assembly, Louis M. Martin. New York was one of the la ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Anti-fraud
Fraud deterrence has gained public recognition and spotlight since the 2002 inception of the Sarbanes-Oxley Act. Of the many reforms enacted through Sarbanes-Oxley, one major goal was to regain public confidence in the reliability of financial markets in the wake of corporate scandals such as Enron, WorldCom and Waste Management. Section 404 of Sarbanes Oxley mandated that public companies have an independent Audit of internal controls over financial reporting. In essence, the intent of the U.S. Congress in passing the Sarbanes Oxley Act was attempting to proactively deter financial misrepresentation (Fraud) in order to ensure more accurate financial reporting to increase investor confidence. This same concept is applied in the discussion of fraud deterrence. Until recently, fraud deterrence has not been specifically identified under one common definition. While it has been discussed by many authoritative sources such as the American Institute of Certified Public Accountants (AICP ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Albert Ottinger
Albert E. Ottinger (September 10, 1878 – January 13, 1938) was an American lawyer and politician. Life and career Ottinger was born in Manhattan, New York City, the son of Moses Ottinger and Amelia Gottlieb Ottinger. He graduated from New York University Law School in 1898 and became an attorney in New York City. He was a member of the New York State Senate (18th District) in 1917 and 1918; and then an assistant attorney general of the United States. As such, Ottinger ruled that the U.S. Congress could grant independence to the Philippines if it wished, since the Philippines were an "insular possession" and therefore to be distinguished from the United States' states and territorial possessions. He was New York State attorney general from 1925 to 1928, elected in 1924 and 1926. During his second term, he was the only Republican who held state office, and was responsible for closing down the notorious "bucket shops" on Wall Street. He was a delegate to the 1928 and 1932 Re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1921 In Law
Nineteen or 19 may refer to: * 19 (number), the natural number following 18 and preceding 20 * one of the years 19 BC, AD 19, 1919, 2019 Films * ''19'' (film), a 2001 Japanese film * ''Nineteen'' (film), a 1987 science fiction film Music * 19 (band), a Japanese pop music duo Albums * ''19'' (Adele album), 2008 * ''19'', a 2003 album by Alsou * ''19'', a 2006 album by Evan Yo * ''19'', a 2018 album by MHD * ''19'', one half of the double album ''63/19'' by Kool A.D. * ''Number Nineteen'', a 1971 album by American jazz pianist Mal Waldron * ''XIX'' (EP), a 2019 EP by 1the9 Songs * "19" (song), a 1985 song by British musician Paul Hardcastle. * "Nineteen", a song by Bad4Good from the 1992 album ''Refugee'' * "Nineteen", a song by Karma to Burn from the 2001 album ''Almost Heathen''. * "Nineteen" (song), a 2007 song by American singer Billy Ray Cyrus. * "Nineteen", a song by Tegan and Sara from the 2007 album '' The Con''. * "XIX" (song), a 2014 song by Slipknot. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Private Right Of Action
A cause of action or right of action, in law, is a set of facts sufficient to justify suing to obtain money or property, or to justify the enforcement of a legal right against another party. The term also refers to the legal theory upon which a plaintiff brings suit (such as breach of contract, battery, or false imprisonment). The legal document which carries a claim is often called a 'statement of claim' in English law, or a 'complaint' in U.S. federal practice and in many U.S. states. It can be any communication notifying the party to whom it is addressed of an alleged fault which resulted in damages, often expressed in amount of money the receiving party should pay/reimburse. To pursue a cause of action, a plaintiff pleads or alleges facts in a complaint, the pleading that initiates a lawsuit. A cause of action generally encompasses both the legal theory (the legal wrong the plaintiff claims to have suffered) and the remedy (the relief a court is asked to grant). Often the f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scienter
In law, (Law Latin for "knowingly", ) is a legal term for intent or knowledge of wrongdoing. An offending party then has knowledge of the "wrongness" of an act or event prior to committing it. For example, if a man sells a car with brakes that do not work to his friend, but the seller does not know about the brake problem, the seller then has no . If he sells the car and knew of the problem before he sold the car, he has . Scienter action in tort law The scienter action is a category within tort law in some common law jurisdictions that deals with the damage done by an animal directly to a human. It had a long history in English law until it was abolished by the Animals Act 1971. An action in the common law jurisdictions in which it has not been extinguished by statute is in addition to the torts of negligence and nuisance or more bespoke torts like cattle trespass. If an animal is known to behave in a certain way and is expressed on a person causing injury, an action can be take ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Damages
At common law, damages are a remedy in the form of a monetary award to be paid to a claimant as compensation for loss or injury. To warrant the award, the claimant must show that a breach of duty has caused foreseeable loss. To be recognised at law, the loss must involve damage to property, or mental or physical injury; pure economic loss is rarely recognised for the award of damages. Compensatory damages are further categorized into special damages, which are economic losses such as loss of earnings, property damage and medical expenses, and general damages, which are non-economic damages such as pain and suffering and emotional distress. Rather than being compensatory, at common law damages may instead be nominal, contemptuous or exemplary. History Among the Saxons, a monetary value called a ''weregild'' was assigned to every human being and every piece of property in the Salic Code. If property was stolen or someone was injured or killed, the guilty person had to pay the wer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Equitable Remedy
Equitable remedies are judicial remedies developed by courts of equity from about the time of Henry VIII to provide more flexible responses to changing social conditions than was possible in precedent-based common law. Equitable remedies were granted by the Court of Chancery in England, and remain available today in most common law jurisdictions. In many jurisdictions, legal and equitable remedies have been merged and a single court can issue either, or both, remedies. Despite widespread judicial merger, the distinction between equitable and legal remedies remains relevant in a number of significant instances. Notably, the United States Constitution's Seventh Amendment preserves the right to a jury trial in civil cases over $20 to cases "at common law". Equity is said to operate on the conscience of the defendant, so an equitable remedy is always directed at a particular person, and that person's knowledge, state of mind and motives may be relevant to whether a remedy should be gr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eric Schneiderman
Eric Tradd Schneiderman (born December 31, 1954) is an American lawyer and politician who served as the 65th Attorney General of New York from 2011 until his resignation in May 2018. Schneiderman, a member of the Democratic Party, spent ten years in the New York State Senate before being elected Attorney General. In May 2018, Schneiderman resigned his position as Attorney General after ''The New Yorker'' reported that four women had accused him of physical abuse. In 2021, Schneiderman’s law license was suspended for a year after a disciplinary proceeding where he admitted to the abusive conduct. Life and early career Schneiderman was born to a Jewish family in New York City, the son of Abigail Heyward and Irwin Schneiderman, a lawyer. He graduated from the Trinity School in New York City in 1972 and Amherst College in 1977. He earned his Juris Doctor from Harvard Law School in 1982. Schneiderman served as a judicial clerk for two years within the U.S. District Court for t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consolidated Stock Exchange Of New York
The Consolidated Stock Exchange of New York, also known as the ''New York Consolidated Stock Exchange'' or ''Consolidated'',See ''Brooklyn Daily Eagle'', Saturday, January 13, 1912, p. 18 was a stock exchange in New York City, New York in direct competition to the New York Stock Exchange (NYSE) from 1885–1926. It was formed from the merger of other smaller exchanges, and was referred to in the industry and press as the "Little Board." By its official formation in 1885, its membership of 2403 was considered the second largest membership of any exchange in the United States. History 1875–1900: Background and formation The New York Mining Stock Exchange opened for active business on November 1, 1875 at noon, with John Stanton Jr. as president. Total membership equaled 25. As the exchange expanded, it moved from 24 Pine Street to 32 Pine Street, and then to 18 Broad Street, and finally to the "Bond Room" of the New York Stock Exchange at 16 New Street. The exchange returned to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York Legislature
The New York State Legislature consists of the two houses that act as the state legislature of the U.S. state of New York: The New York State Senate and the New York State Assembly. The Constitution of New York does not designate an official term for the two houses together; it says only that the state's legislative power "shall be vested in the senate and assembly". Session laws passed by the Legislature are published in the official ''Laws of New York''. Permanent New York laws of a general nature are codified in the ''Consolidated Laws of New York''. As of January 2021, the Democratic Party holds supermajorities in both houses of the New York State Legislature, which is the highest paid state legislature in the country. Legislative elections are held in November of every even-numbered year. Both Assembly members and Senators serve two-year terms. In order to be a member of either house, one must be a citizen of the United States, a resident of the state of New York for at ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Blue Sky Law
A blue sky law is a state law in the United States that regulates the offering and sale of securities to protect the public from fraud. Though the specific provisions of these laws vary among states, they all require the registration of all securities offerings and sales, as well as of stockbrokers and brokerage firms. Each state's blue sky law is administered by its appropriate regulatory agency, and most also provide private causes of action for private investors who have been injured by securities fraud. The first blue sky law was enacted in Kansas in 1911 at the urging of its banking commissioner, Joseph Norman Dolley, and served as a model for similar statutes in other states. Between 1911 and 1933, 47 states adopted blue-sky statutes (Nevada was the lone holdout). Today, the blue sky laws of 40 of the 50 states are patterned after the Uniform Securities Act of 1956. Historically, the federal securities laws and the state blue sky laws complemented and often duplicated ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Louis M , names sometimes translated to English as "Louis"
{{disambiguation ...
Louis may refer to: * Louis (coin) * Louis (given name), origin and several individuals with this name * Louis (surname) * Louis (singer), Serbian singer * HMS ''Louis'', two ships of the Royal Navy See also Derived or associated terms * Lewis (other) * Louie (other) * Luis (other) * Louise (other) * Louisville (other) * Louis Cruise Lines * Louis dressing, for salad * Louis Quinze, design style Associated names * * Chlodwig, the origin of the name Ludwig, which is translated to English as "Louis" * Ladislav and László - names sometimes erroneously associated with "Louis" * Ludovic, Ludwig, Ludwick, Ludwik Ludwik () is a Polish given name. Notable people with the name include: * Ludwik Czyżewski, Polish WWII general * Ludwik Fleck (1896–1961), Polish medical doctor and biologist * Ludwik Gintel (1899–1973), Polish-Israeli Olympic soccer player ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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