Magazine article The CPA Journal

Website of the Month:

Magazine article The CPA Journal

Website of the Month:

Article excerpt is supported by a financial sendees industry law firm, Beam & Astarita LLC, and much of the site's content is provided by attorney Mark J. Astarita. Resources include news articles, introductory-level articles, blogs, links to financial and investment-related resources, and links to code and case law sources, such as die Securities Act of 1933, the Securities Exchange Act of 1934, and die Investment Advisers Act of 1940. The website's resources are free, altiiough information is also provided on a variety of books about topics related to die site's content that are available for purchase.

The materials on the website are presented under the main menu topics of arbitration, hedge funds, mutual funds, investors, brokers, advisors, corporate finance, initial public offering, compliance, search, news, law, blogs, SEC rules, case law, bookstore, messages, and links. The main page features selected articles and recent SEC press releases. Many of die available resources appear on multiple main topic pages, which becomes repetitive, given die number of main pages. It would be nice to see the site trimmed down; however, the replicated items are easy to find.

News and Articles

News articles and federal agency press releases appear throughout the site and on its blog, the Securities Law Blog (seclaw.blogspotcom). The blog is updated on a relatively frequent basis. Posts can be searched according to numerous topical categories and by popularity. Access is also available to several external, regulation-related blogs and websites, such as the SEC and Financial Industry Regulation Authority (TINRA) homepages, recent SEC press releases, and online news articles relating to hot topics on Wall Street includes helpful and easily understood introductory articles on federal securities laws, blue sky laws (state securities laws), private placements, the initial public offering process, insider trading, and securities arbitration. The articles are designed for investor-level comprehension, and some of the introductory articles are brief, while others could be considered primers. Contact information for state securities commissions is also available.

An introduction to federal securities law, found on the site's main arbitration page, addresses the Securities Act of 1933 and the Securities Exchange Act of 1934, and summarizes section 10b and Rule 10b-5, the antifraud provisions of the Securities Exchange Act of 1934. It also briefly describes state securities laws and the impact of common law on the securities industry.

Securities regulation resources would not be complete without addressing state issues. An introduction to blue sky laws, found on the site's compliance page, is a brief article that explains the role that the states play in securities regulation; the registration of securities transactions; and the registration of brokers, dealers, and agents. The article links to a very useful tool - the Guide to State Securities Administrators, which provides street addresses, telephone numbers, e-mail addresses, and website links for the 50 state securities commissions.

Another article on the compliance page, an introduction to insider trading, explains that the term includes botti legal and illegal conduct but it focuses on the specifics of illegal activity. …

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