An irreverent Wall Street Blog
by Bill Singer

BrokeAndBroker.com Blog by Bill Singer WEEK IN REVIEW

January 31, 2015


Good intentions seem to have exploded in a banker / broker's  face, when he came to the aid of an elderly customer, who fell under the sway of a younger woman with a criminal record. When the do-gooder stepped in to protect the customer, some things he did cost him his job and then some. How come the former employer and Wall Street regulator piled on?  Some will find good cause in what was, at best, questionable conduct -- and others may simply roll their eyes and wonder if this Good Samaritan was the victim of over-zealous compliance and regulatory staffs. READ


There are lots of bad guys out there, and on Wall Street, brokerage firms need to protect not only their customers but also themselves from some of the online scams and cons.  In a recent regulatory settlement, we see how one firm was cited for not having implemented reasonable compliance policies, not asking the right questions, and not being suspicious enough. Then there are questions as to whether the regulator was asleep at the switch. READ


Another day and another email disaster at another major FINRA member firm. In the end, however, the customer is made a whole -- but the registered person is made a bit less than whole by a fine and suspension. Some good lessons embedded in this regulatory settlement. READ

Stockbroker, Advisor, Compliance, Back-Office, Regulatory, and Legal jobs. READ


Imagine that you're broke and can't afford a fabulous but high-priced regulatory lawyer like me and you need to submit a brief in response to some absolutely outrageous allegations made against you by the Securities and Exchange Commission ("SEC"). The first step you should take is to read -- quite carefully -- the exact SEC Rule of Practice that governs how a brief is to be prepared and submitted.  You didn't know that the rules got so nitty gritty? Yeah, they get highly focused. In any event, take a few minutes and read the following Rule. There will not be any pop quiz at the end of this exercise, so, just take your time and enjoy the amazing world of legalese.READ

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