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LSDefine

Simple English definitions for legal terms

churning

Read a random definition: economic coercion

A quick definition of churning:

Churning: Churning is when a stock broker does bad things by making too many trades for a customer just to make more money for themselves. This is against the law because it's not fair to the customer. The government has rules to stop this from happening.

A more thorough explanation:

Churning is a dishonest practice that some stock brokers use to make money for themselves. It happens when a broker trades too much in a customer's account, even though it's not necessary or helpful for the customer. The broker does this to make more money in commissions, even if it's not good for the customer.

For example, let's say a customer tells their broker that they want to invest in safe, long-term stocks. The broker might then buy and sell many different stocks in the customer's account, even though it's not what the customer wanted. The broker does this to make more money in commissions, even though it's not good for the customer's investment goals.

This is illegal because it's considered fraud. The Securities Exchange Act of 1934 makes it against the law to use dishonest practices when buying or selling stocks.

churn | CIA

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RoaldDahl
16:15
So if it means nothing does that mean something?
HopefullyInLawSchool
16:17
Possibly
RoaldDahl
16:26
Cool
RoaldDahl
16:26
thank you!!!! i hope it means something
pinkandblue
16:31
fart
IrishDinosaur
16:36
Mich R gang lesgooo
Did anyone else get that random get to know nova email?
HopefullyInLawSchool
17:21
Ya it was sent to all YM applicants
starfishies
17:37
Anyone get the NDLS email inviting you to apply for something even though they haven’t made a decision on your app yet
17:38
Better yet I got the email and I was rejected last month
starfishies
17:38
Wtf
starfishies
17:39
and the deadline is in like a week what is this
any cardozo movement?
BatmanBeyond
18:01
Sent a LOCI via portal, but I'm wondering if email would have gotten me a swifter response
BatmanBeyond
18:02
This whole hold/wait-list/reserve system is a headache
loci already?
BatmanBeyond
18:09
If the odds are like 1-2% I don't think it matters much by the numbers
12:11
I got the same NDLS email
OrangeThing
12:18
I think the user profiles are broken
19:29
Any word out of Notre Dame?
19:29
Only the invitation to apply for LSE
19:29
Anyone received a decision from NDLS?
19:50
when did u guys apply that just heard from umich? they havent even glanced at my app yet
0:30
how am i supposed to spy on people when profile links are broken?
Right. Broken links smh
I've been UR since first/second week of Jan, no updates otherwise, is that a bad sign? At or above median LSAT and above 75th gpa.
The profile links are not working for me. anybody else?
13:18
i’m in the same boat mastermonkey but with lower stats. i hope i hear back by mid march
CheeseIsMyLoveLanguage
13:24
@mastermonkey45: Looking at some of the recent decisions in relation to when they went complete, I'd say it's a good sign. It seems many declines were sent within about 5-6 weeks of completion. Given those were applications that were SENT in January, I'd say that means you're still solidly in the running. :)
14:30
Sent an app to OSU in early december and have STILL not heard back
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