Martin Act

Martin Act

Legislation in New York State that, as amended, gives the New York Attorney General wide power and discretion in investigating financial fraud. The Martin Act allows the Attorney General to question brokers and other interested parties without first specifying whether he/she intends to pursue criminal charges or file a civil suit. The Attorney General does not need to show whether the person(s) being charged under the Act intended to commit misconduct.
References in periodicals archive ?
His lawyer, David Boies, also argued that disgorgement of ill-gotten gains is not an available remedy under the Martin Act, the state's powerful securities fraud statute.
9) The New York Attorney General (NY AG), Eric Schneiderman, brought the first big case under a little-known state law from the 1920s, the Martin Act, which grants the NY AG the power to regulate and investigate securities fraud.
Schneiderman announced that his office has reached a settlement with 39 Lispenard Project, LLC and its former principal Peter Moore for failing to register numerous real estate investments known as syndications under the Martin Act.
Just two weeks after he was charged by the attorney general's office, Masud pleaded guilty to grand larceny in the fourth degree and securities fraud under the Martin Act.
Our other legislative priorities in 2014 include preventing expansion of the Martin Act, protecting the mandated annual internal audit function in public school districts, and allowing non-CPAs to own minority stakes in CPA firms.
In an opinion piece in the Wall Street Journal May 13, former governors Mario Cuomo and George Pataki voiced concern that misuse of the Martin Act, the 1921 law under which Greenberg and Smith are being charged, sends the wrong message to the business community, putting New York at risk of losing jobs and damaging its economy.
In an opinion piece in the Wall Street Journal May 13, Mario Cuomo and George Pataki, both former governors of New York, voiced concerns that misuse of the Martin Act, the 1921 law under which Greenberg and Smith are being charged, "sends the wrong message to the business community, putting New York at risk of losing jobs and damaging its economy.
7) That did not stop Spitzer from invoking the Martin Act in his campaigns, however, which one lawyer aptly tagged as the "Sword of Spitzer" - the "legal equivalent of King Arthur's Excalibur.
The suit was filed in Manhattan under New York's Martin Act.
The attorney general is pursuing civil fraud claims against the former AIG executives under the state's Martin Act, which gives Schneiderman power to fight financial fraud.
In a spirited burst of egotism, my first-ever palindrome started with a seed word of my own name: "As I leave to help Martin act, can I trample hot Eva-Elisa?
The City Council today passed a resolution in support of New York State Attorney General Eric Schneiderman's investigation into the mortgage packaging practices of several banks and it calls upon a taskforce of 50 state attorneys general to preserve his investigatory and prosecutorial powers, according to New York's Martin Act, in any settlement with major financial institutions.