An irreverent Wall Street Blog
by Bill Singer

Bill Singer's Provocative FINRA Case Analysis

January 17, 2013

Barred Stockbroker Barred Again
For Wire Transfers From Elderly Client

Talk about a spoiler alert - consider this ominous introductory statement in a Financial Industry Regulatory Authority ("FINRA") disciplinary decision:

This is a serious case of a broker in severe financial difficulty who engaged in a scheme to convert customer funds in order to pay his personal expenses and to conceal this misconduct from his firm.

Ummm, yeah, okay - so, what FINRA is hinting at is that this isn't going to turn out well for the stockbroker respondent, right?  Gee, talk about telegraphing the bad news.

READ Bill Singer's full analysis of this fascinating FINRA case at his Forbes' "Street Sweeper" column.

Permalink

Search BrokeAndBroker

Related Topics

Previous Entries

Tag Cloud

Bill Singer BrokeAndBroker FINRA Arbitration AWC SEC BrokeAndBroker.com Expungement Employment Street Sweeper Bill SInger Jobs Wells Fargo Fraud U5 OBA Promissory Note Email U4 Guest Blog Merrill Lynch Guest Blogger BrokerAndBroker Wire Fraud Elderly UBS EFL Morgan Stanley Aegis Frumento Forbes FBI CRD Defamation PST Suitability Statutory Disqualification Ponzi ALJ Citigroup Whistleblower Borrowing Rule 3270 BrokerCheck Supervision DOJ Outside Business Activity Bank OIP IRS Felony Willful Form U4 Wachovia SDNY Wrongful Termination Pro Se Expenses NAC BrokeAndBroker Ameriprise Rule 2080 Supreme Court IRA Mail Fraud OHO Wife Discretion WSP Husband Rule 8210 Insider Trading Checks Conversion Dodd Frank CCO Forgery RIA Employment Tuesday Discovery Punitive Damages Form U5 Madoff Business Expenses Raymond James Tax Bankruptcy NASD Settlement Rule 3040 Willfulness Rule 3240 Estate Rule 1122 Rule 2010 Credit Card Private Securities Transaction Frumento NYSE Small Firm LPL JP Morgan Real Estate Commissions Annuities Indictment Outside Business Activities Power of Attorney Wall Street Facebook Impersonation Edward Jones 2Cir Bar Spouse Rule 3280 Exam Tax Lien Bank of America Street Legal Corrective Action Statement ATM ETF Promissory Notes Margin Mortgage Beneficiary Tax Liens Injunction SRO Complaint Wire Stephen Kohn Trust Case In Point Antitrust Schwab Away Account Test Insurance Rule 2510 ARS Appeal CFTC Offer of Settlement Schapiro Due Diligence VA NSF Trustee Employee Forgivable Loan Annuity Spouses Goldman Sachs T&P Barclays Misdemeanor Signature HFT Securities Fraud Lien POA OTR Loan NASAA Rule 12206 Signatures Deutsche Bank Unauthorized Discretion Conspiracy Initial Decision RBC Options PCAOB Mandatory Arbitration NASDAQ Money Laundering Fidelity DCCir Cease And Desist Remand Bonus Chase Great Recession Flash Crash Undisclosed Settlement LOA Continuing Education Blockchain Dissent E*Trade email Stay Rule 4511 Liens Burris Credit Cards Eligibility Rule Huffington Post Rule 3010 Failure to Supervise Compliance Disclosure Scottrade Rule 3050 Deceased Broker Protocol Unfair Competition Securities Industry Commentator InSecurities Bharara Trump RRBDLAW.com OWB Hacker Hacking Gallagher Registered Rep Magazine Fiduciary Lehman Brothers Variable Annuity Identity Theft MSSB Unsuitability Sanctions Solicitation Customer Audit Board Sexist Rule 4530 Reimbursement FINRA Arbitration TRO Forex Jurisdiction Malware Reg SP ACQ Unauthorized Trading Wedbush Website Retirement Spoofing brokeandbroker Motion to Dismiss Letter of Authorization Apple Willfully Explained Decision employment Divorce Annual Compliance Questionnaire Cryptocurrency JPMorgan Stockbrokers Rule 12805 Will Elder Abuse Social Media Variable Annuities jobs Customer Complaint Solicited FINOP Discrimination Registration LIBOR Lehman Crypto Second Circuit 2nd Circuit Vacatur Self Regulation Net Capital Wey Prison BrokeAndBroker Bill Singer Away Accounts Internet arbitration Sexism Telephone 9Cir BrokeAndBroker.com Blog Commission Arbitraiton RMBS Newman Confidential Information Disgorgement Retaliation Bureau of Prisons RRBDlaw.com 10Cir Lucia China REIT Brummer Trading Platform Unsolicited BOP Private Placement Charles Schwab MetLife Judgments Personal Expenses IC3 Hilton Weiner Private Securities Transactions Stifel Hedge Fund Imposter FOREX Bonds BrokeandBroker Time And Price Severance Postponement Plea Zipper Examination Rule 2111 Cheating Lawyer IPO Crowdfunding bill singer Botkin Suspension ADA Debit Card Rule 2150 JOBS Act Check Kiting OSHA Mutual Funds Rakoff Auction Rate Securities MC-400 Marijuana DOL TD Ameritrade Statute of Limitations Stifel Nicolaus Knight FNMA Emails Piwowar Loans WSPs Dakota Securities Unjust Enrichment Rule 12200 Obstruction of Justice Joshua Brown CE Indemnification NYAG FAA Sanction Guidelines Fees Morgan Keegan Rule 3110 Bitcoin Testimony Protocol Confidential Reg S-P Check Stanford Wire Transfer Wine Affiliate Restaurant Gold SAC Bloomberg USERRA Morgan Stanely Class Action PNC Customer Information MF Global High Frequency Trading Whistleblowing Puerto Rico TOD AML Shah Gilani Ketchum Bear Stearns EIA Board of Governors Woody Allen CPA Waiver Embezzlement Dementia Executor Passcode Article V CRS CEO Compensation Oppenheimer Aleynikov Confirm Sales Assistant Reg D Public Interest CNBC Motion to Vacate Rule 2081 Elder Fraud Charge Widow Pennystock Medicare Conflict Hurry Rosenthal Recruiting Non Solicitation Regulation SP OIG Rule 13805 TSSB Appointments Clause Churning Rule 13200 Bandimere Banc of America Khuzami Raiding Phishing Due Process Affinity Fraud PN Chief Compliance Officer Marketplace Subpoena Form ADV Finder\'s Fee Rule 9552 Outside Account Laptop Trade Secrets Termination Federal Reserve Vault Eligibility White Smith Barney Statement of Corrective Action SunTrust ING Unsuitable Rule 12504 Online Rule 2210 Cannabis Side Bar Joint Account Unauthorized Practice of Law Series 7 Bid Rigging Mother Inability to Pay Information Failure To Supervise McDuff Margin Call ACH 6th Circuit Corruption HSBC NPR Charity Written Supervisory Procedures Commodities Fraud Manifest Disregard Accounting Mutual Fund Government Accountability Project Unregistered Broke And Broker Feigenbaum Penson Casino Medical Condition 401k Self Regulatory Organization Linde Murphy Whitman Corzine PAQ Obstruction Guitron Testing Rule 4513 Circuit Court Star Wars Slander Poteroba Johnny Burris Yesenia Guitron David Sobel Kon Day Trading Consent Order Layering Membership Continuance Private Placements Morgan Stanley Smith Barney Aguilar Statutory Disqualification Committee Marine Corps Pennystocks Rule 3030 Moon Hearing TCR Parking Marines Teleconference Small Firm Governor Employment Agreement Concentration Leveraged ETF Counterclaim Deferred Compensation Vietnam Disability Ride the Thunder Bank Fraud Withdrawals Administrative Remedies Timban 4Cir Sharemaster Settling Away Scholander TheBlot PIABA Chiasson Turnover Tax Fraud FCI Thain EDNY Taft Correctional Institution Ethereum Elles Rule 9216 CGMI Equity Indexed Annuities BrokeAndbroker Credit Suisse Wanger BrokerAndBroker.com WaMu Sarbanes Oxley 11th Circuit Stipulated Award Fifth Amendment BATS Schneiderman Regulation Motion Christian Stanley Reverse Life Insurance Department of Justice Attorneys\' Fees Research Google Non-Solicitation Rule 2370 Kiting YouTube Lincoln Financial FOCUS Texting BD Privilege Counterfeit CD Selling Away Over Concentration Elder Law Excessive Trading Trading Rory Flynn Rule 21F Backstage Wall Street Stockbroker Constitution Commodities Nietzsche Investment Adviser Third Party Vendor Rule 12212 Sexual Harassment SP Rule 1031 Commissioner Stein FINRA AWC First Amendment Attorneys Fees Control Person Hospital Dell Libel Password Fine 9/11 SIFMA Death Congress expungement Red Flags 401(k) OWWP RRBDlaw Guest Bloggers Robert Cook 11Cir WB-APP Kokesh VIX JPM Probate AXA VXX OCIE Verbal Discretion BrokeAndBroke Argentina signature FCI Beaumont Inmate Outside Accounts Do Not Call Scottsdale Florida Negligence Female Escrow Robert Muh Jennifer Tarr Cold Spring Advisory Group Funds Fines Oral Discretion David Lerner Money Market IM Judgment Amazon Moore 40 Act Standing Fowler Netschi Sexual Discrimination Tortious Interference Arrest Investor Alert Inside Information TIC Resignation IAR Chase Investment Services Stop Loss Meals Electronic Communications Client Information BitTorrent Impersonator Newbridge 8210 Arbitration Compliance Questionnaire Goble MBS Reform Financial Disclosure Supervisor Microcap Compromise Wire Transfers Lexicon iPhone Johnson Cellphone Reverse Merger Nasdaq Scam Wells Fargo Advisors Capital Gains Life Insurance Reasonable Turbeville US Airways Conflicts Dinner Rule 3310 FINRA Board Clayton Mary Schapiro Books And Records BrokeandBroker.com Women Reuters Confirmation Collateral Leveraged ETFs Checking Criminal Fee Jon Corzine Self Reporting Bartko FDA FNI Media Travel Payroll Chase Bank Bezos NYG Capital Municipal Advisor NRSRO Collateral Bar Retroactive Bar Retroactive Work Product Test Center Liquidation Sears Prime Bank FCPA Risk Subway Salman CDO National Securities Promoter PHC God Branch Manager FMLA SD Excel Section 206 Brokeandbroker.com Preet Bharara EDPA Texas State Securities Board Elon Musk Eric Stein Undertaking Exception Reports Lek Summary Judgment Talman Harris In House Counsel Advisor Placement Group Outside Counsel Credit Repair Guardian Powell Game of Thrones Expert Witness Relevant Lee Anderson Merrill BBVA Martin Executrix Motion to Confirm Altered Records Transfer Tipper Service Chevron Bank Guarantee RRBDLAW Lewis Carroll 17a-5 Annual Audit Merill Lynch Cybercrime Flash Drive Short Sale Oilpro Kent Kierkegaard Expense NFA Trader DWI Fiero Rules of Practice Newport Coast Securities Cherry Picking ADEA Currency CMO Nationwide Theft Production Reason for Termination NY Life Exhaustion Doctrine Age Discrimination Customers Pacifico Non-Prosecution Agreement Tippee Wires Disciplinary History Pruco AIG Rule 2330 SIPC Pension Romer RICO House Financial Services Willfull Finra Mattera Kennedy LLC Offset Silver Baby Boomers ADR Tran Ethics Lawyers Disparate Treatment 1099 Election Diamonds NML Apartment Laser Schumer Walter Dow Stock Promotion Diabetes Undercover Immunity Witness Tampering Tennis Court Unauthorized Trades Practice Sale Sterne Agee Permanent Bar Spam 10b-5 Bob Dylan Coin Bribe Trainee Fee Data Rule 12904 Grievance Stephen A. Kohn Confidential Customer Information Rule 3210 Countrywide Evidence Daspin Compliance Officer Orders Securities and Exchange Commission Irreparable Harm Mary Jo White Motion to Compel Blank Forms Merger Kenneth Starr Murray Regulation S-P Motion To Dismiss S&P AWC. FINRA Gabelli Hugh Hewitt Statute of Limitation Fourth Amendment Mistake AAA 9th Circuit Proctor FINRA Small Firm Honorarium Customer Files Sex Father Martoma Taxes Initials Galleon Janney Montgomery Scott Broy Molchatsky SEC Rules of Practice GAP Enforcement UIT BIll Singer Constructive Discharge Naskovets Sharing Agreement Bill Singer BrokeAndBroker ICO Skimming Falsification false statements 1Cir State Farm Koval Books and Records Retired Woman With Cane Hertz Varney Fiduciary Duty Rule 420 Springsteen Obamacare Solomon Quasi Governmental MSPB ALJ Grimes McCartney Municipal Bonds Exotic ETF Binary Options Personal Information Well Managed Portfolio Puts Wages Bill singer JPMorgan Chase Respondeat Superior NoCA Office of Special Counsel Spoliation Life Settlement Boyland FTC Costa Rica