In response to the indefatigable efforts of Securities and Exchange Commission Administrative Law Judge Cameron Elliott to conduct a statutorily mandated hearing in the public interest to determine whether to bar from the securities industry a federal inmate who is serving a 300-month prison sentence for his role in an $11-million securities fraud, Federal Bureau of Prisons bureaucrats have pursued a hostile course of conduct, which smacks of petty bureaucrats peeing on their turf in a childish effort to mark one's territory.
DEMAND that the Federal Bureau of Prisons and the Securities and Exchange Commission require inspector general investigations of this reprehensible state of affairs.
CONTACT your Senators and Representatives and demand that they haul the asses of the imbeciles responsible for this idiocy before a congressional committee and demand accountability.
COMPLAIN to the:
Federal Bureau of Prisons
Securities and Exchange Commission ("SEC") Chair Mary Jo White
Today's BrokeAndBroker.com Blog
is an appeal to all serious Wall Street professionals and public customers: I want you to make some time to read a law review article. Yeah, I know, that's all sooooooooo old school to have to sit down and manually read 68-pages of prose with this snore of a title: "Note: High Frequency Litigation: SEC responses to high frequency trading as a case study in misplaced regulatory priorities"(The Columbia Science & Technology Law Review; Author Nathaniel E. Sokol, Vol. XVII, Spring 2016). READ
If nothing else, many lawyers love a good word puzzle. Countless millions of dollars -- dare I say, billions or trillions? -- have been spent in litigation over the meaning of a paragraph, sentence, clause, or even a single word. Quite often, the battle lines are drawn when there is a commonsense, everyday meaning for a particular term but there is also a whole other definition set forth by the courts and common law. For those of you done with today's crossword puzzle, let me offer you another bit of diversion. How would you define the core difference between a regulatory Bar and a regulatory Suspension? Many would answer that a Bar begins on a date certain but does not end on a date certain; whereas, a suspension begins on a date certain and ends on a date certain. In more understandable terms, the general idea behind a Bar seems to be that you're out of the business until someone allows you back in, which may never happen; and the concept of a suspension is that you can come back in the business after you've served the requisite days, weeks, months, or years. The problem, however, is that some securities regulators impose multi-year Bars. Another problem is that some suspensions result in what is essentially the "bar" of a Statutory Disqualification. Like I said, lawyers with big-dollar billable hourly rates love this stuff. Consider this recent petition to the Securities and Exchange Commission by a barred individual. READ