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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.

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