If my aunt were a man, she'd be my uncle.That saying perfectly addresses the predicaments of many of my clients. If only the firm didn't have that policy, I would have been able to do what I did. If only the client hadn't died the day before, she would have authorized the trade. If only you were cheaper, I could afford to hire you as my lawyer.
In a recent FINRA regulatory settlement, a husband and wife seeking a bank loan apparently mused that if only they had more money in their securities accounts, the bank might be more disposed to extend a loan. You think? After the couple put their flawed plan into action, FINRA responded with a fine and suspension. READ
Starting in June 2013 and running somewhere into January 2017, millions of shares of unregistered pennystocks were allegedly sold without the necessary due diligence. Additionally, Suspicious Activity Reports
likely should have been but were not filed. Although the shares may have sold for mere pennies, the proceeds amounted to just shy of $25 million. Not exactly chump change. All of which prompts a Securities and Exchange Commission investigation and the scheduling of a full-fledged regulatory hearing. In keeping with the august tradition of the BrokeAndBroker.com Blog
, we focus on the silliness that is often attendant to such regulatory enterprises of great pith and moment. READ