Y'all remember that BrokeAndBroker.com Blog
article we posted a few days ago with the public customer Claimant lawyer who went up against a FINRA member firm that had been expelled and that did not answer his claims or appear at the hearing? As you may recall, the Claimant's claims were denied but we had not explanation as to why. In today's blog, we consider yet another lawyer's complaints, these on behalf of his and another's IRA accounts. Yet again, we encounter some oddball moments in the wild and wacky world of FINRA arbitration. READ http://www.brokeandbroker.com/3571/finra-arbitration-frequent/
You ever notice all the self-congratulatory garbage that flows out of Wall Street's regulators -- sort of like the release of raw sewage after a storm. And there's so much of it! You got state-of-the-art regulatory websites. You got snazzy regulatory social media pages. You got high-quality-production-value videos, webcasts, and podcasts. You the lecture circuit where one top exec or one top commissioner stands before a select audience and extols how effective they've been while, ever so sincerely, acknowledging that we can and should do better. Been a pleasure addressing you all today. Sorry, gotta run and catch my flight.
Oh, and let's not forget those endless notices from regulators asking for yet another round of comments and suggestions, which then get processed, then get considered, then get submitted to a panel, then get revised, then get re-submitted for comment, then get revised, then get formally submitted, and, then, if a commission or Congressional committee ever signs off, may or may not get implemented by the new exec or the new commissioners who replaced the old exec or the old commissioners who started this process a few years ago.
As you read the self-serving communications and listen to the self-serving speeches, you are struck by that feeling of deja vu. If you've been reading and listening to this nonsense as long as I have, it's deja vu all over again, and again, and again. How about we all get real? Let's be honest with each other. The spirit is willing but the flesh is weak. READ