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