Legal Question in Securities Law in New York

Securities Law , New York
Who is the authority giving permission for Broker- Dealer license to start a small firm of 3 people? The purpose of setting up such a firm is to give advise to institutional investors in USA about the posibilities in investing in Indian Securities through Indian Stock Exchanges by supplying them the sectoral research reports produced by the parent company and take orders of buy or sell from institutional clients (FII) for executing the trade transactions in Indian securities. The Orders shall be executed in India.
Which are the rules and regulations to be complied? Who is the authority to be contacted ?
The SPV will be wholly owned subsidiary of either its Indian parent Security Broker or the branch or subsidiary of its UK subsidiary set up for teh similar requirement and already have a FSA authorisation. Kindly advise?

Asked on 3/18/08, 8:13 am

4 Answers from Attorneys

Carlos Gonzalez Gonzalez Legal Associates PLLC

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Re: Securities Law , New York

If you would like a bit of generalized information to get you started you can take a look at this link.

http://www.oag.state.ny.us/investors/investors.html

this site has some good foundational information. However, this is one thing you should NOT be attempting to do on your own. I worked with the Bureau of Securities, NJ attornery Generals office for some time and have personally seen the multitude of companies that go under after heavh fees and fines due to failure to meet proper rules and regulations - which actually come from large multitude of organizations when you're looking to work in this area.

If you would like further information, or a free phone consultation please feel free to contact us either through email or directly at 2127098303

Answered on 3/19/08, 7:20 am

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William Pinzler william M. Pinzler

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Re: Securities Law , New York

To put the answer most directly, you should not be attempting to venture into this highly regulated area without a qualified and experienced lawyer.

Answered on 3/18/08, 9:53 am

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Christopher Hoyt The Law Offices of Christopher W. Hoyt

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Re: Securities Law , New York

These types of legal issues should be handled by a qualified attorney. There are many laws that regulate the securities industry which may include civil and/or criminal penalties if violated.

Answered on 3/18/08, 11:49 am

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