An irreverent Wall Street Blog
by Bill Singer

BrokeAndBroker.com Blog by Bill Singer Esq WEEK IN REVIEW

February 22, 2020

http://www.brokeandbroker.com/5075/aegis-frumento-insecurities/
As Wall Street lawyer Aegis Frumento sees it, we don't really understand why we don't like insider trading as a thing in itself. Also, Frumento notes that any insider trading statute can be gamed, and the more precise it is drafted, the more loopholes it creates. Which may explain the Houston Astros' approach to winning a World Series.

http://www.brokeandbroker.com/5074/lek-abbar-cannabis/
In today's featured case, we have a dispute involving a customer's sales of shares of microcap Cannabis Science, Inc. One court says the customer ain't a customer. On appeal, another court says he is. Put that in your bong and smoke it! To say that this is a case that goes up in smoke but then gets re-lit wouldn't be too far from the truth. 

http://www.brokeandbroker.com/5073/finra-arbitration-free-ride/
It's a very risky proposition for a brokerage firm to accept purchase orders from a customer without sufficient funds on hand or covering margin equity -- and if a customer only has a Cash Account, then margin would not be an option. In two recent FINRA Arbitrations, brokerage firm Ustocktrade sought damages after two customers failed to deposit sufficient funds to cover securities purchases. Those debits raise lots of questions about the customers' intentions and the industry's compliance and regulatory practices. 

Permalink

Search BrokeAndBroker

Related Topics

Previous Entries

Tag Cloud

Bill Singer BrokeAndBroker FINRA Arbitration AWC SEC BrokeAndBroker.com Expungement BrokerAndBroker Employment Guest Blog Guest Blogger Street Sweeper Wells Fargo Bill SInger Jobs Aegis Frumento OBA U5 Fraud Promissory Note U4 Email Merrill Lynch Morgan Stanley EFL UBS Defamation Elderly Wire Fraud CRD Statutory Disqualification InSecurities Forbes Suitability PST FBI OHO BrokeAndBroker Ponzi Rule 3270 ALJ Citigroup Whistleblower NAC Borrowing Supervision DOJ BrokerCheck Form U4 IRS OIP Expenses Supreme Court Outside Business Activity Willful Bank SDNY Felony Ameriprise Pro Se Wrongful Termination Securities Industry Commentator Wachovia Rule 2080 WSP Rule 8210 IRA Discretion Dodd Frank RIA Raymond James Insider Trading Business Expenses Mail Fraud Discovery Rule 2010 NASD Wife Form U5 CCO Rule 1122 Husband JP Morgan Conversion Bar Punitive Damages Checks Forgery Bankruptcy Estate LPL Willfulness Settlement Trump Rule 3240 Tax Employment Tuesday Madoff Outside Business Activities Edward Jones Credit Card NYSE Rule 3040 Stephen Kohn Wall Street Commissions Frumento Margin Schwab Small Firm Private Securities Transaction Insurance 2Cir Annuities Impersonation TRO Corrective Action Statement Rule 3280 Beneficiary Power of Attorney Antitrust Facebook Injunction Tax Liens Indictment Bank of America Options Promissory Notes Real Estate Exam Street Legal Test Mortgage ETF ATM Tax Lien SRO Spouse Complaint Offer of Settlement OTR Due Diligence arbitration Misdemeanor Trust COVID Rule 12206 Remand FAA Rule 2510 Trustee Sanctions VA Away Account Signature Wire Crypto Case In Point ACQ Barclays Annuity Stay Initial Decision POA CFTC Schapiro email Goldman Sachs NASDAQ Appeal Customer Lien ARS Motion to Dismiss Securities Fraud OWB Employee Forgivable Loan Unauthorized Discretion T&P Liens Rule 4511 Eligibility Rule Loan Rule 4530 NSF Money Laundering Blockchain Spouses RBC Deutsche Bank Signatures Reg SP Burris PCAOB Great Recession 9Cir Retaliation Bonus Jurisdiction Cease And Desist HFT Fidelity NASAA DCCir Conspiracy LOA Unfair Competition Fiduciary Mandatory Arbitration JPMorgan E*Trade Compliance Dissent Failure to Supervise Rule 12200 Reimbursement Chase Solicitation Flash Crash Discrimination Severance Explained Decision Disgorgement Rule 3010 Credit Cards Undisclosed Settlement Vacatur Willfully Scottrade Retirement Continuing Education Broker Protocol Hacking Personal Expenses Huffington Post Unsuitability AML TD Ameritrade Cryptocurrency MSSB Rule 3050 Malware Deceased Hacker Disclosure expungement RRBDLAW.com 10Cir REIT Bitcoin Lehman Brothers Gallagher Motion to Vacate Class Action Customer Complaint Identity Theft Variable Annuity Divorce Bharara Board Registered Rep Magazine brokeandbroker Unauthorized Trading Wey Letter of Authorization Apple Wedbush Lucia Examination Coronavirus Away Accounts Manifest Disregard BD Variable Annuities employment Sexist Loans Will Stifel Sexism Internet Stockbrokers Forex Website Spoofing Audit FINRA Arbitration IAR Annual Compliance Questionnaire Widow Registration Statute of Limitations Elder Abuse FINOP Lehman Kokesh jobs Private Securities Transactions BrokeAndBroker Bill Singer Private Placement Rule 3110 Commission Rule 12805 Prison Postponement Credit Suisse Social Media Brummer LIBOR Confidential Information Second Circuit MC-400 2nd Circuit PNC Due Process Net Capital Zipper SDFL Solicited CRS BOP Self Regulation Trading Platform RMBS IC3 Debit Card Unsolicited Sanction Guidelines Arbitraiton Hedge Fund RRBDlaw.com Newman ADA PIABA Indemnification Charles Schwab Imposter Judgments Time And Price Crowdfunding Telephone Bureau of Prisons MetLife BrokeAndBroker.com Blog Unjust Enrichment China Waiver Fees Plea Hilton Weiner Bonds WSPs Morgan Keegan Marijuana Bear Stearns FOREX Emails Rule 2111 Cheating Dakota Securities bill singer BrokeandBroker Rule 2150 OSHA Rule 13200 Puerto Rico FNMA Diversity Botkin Stifel Nicolaus Tortious Interference Board of Governors Lawyer Knight Rakoff Non-Solicitation IPO RR Check Kiting Confirm Suspension Regulation SP Testimony Rule 9552 Motion to Confirm Mother Gold NYAG Public Interest Compensation Auction Rate Securities Counterclaim CPA CE WB-APP Oppenheimer 3Cir TOD Embezzlement Small Firm Governor Elder Fraud JOBS Act Concentration Charge Employment Agreement Mutual Funds Piwowar Whistleblowers CNBC DOL Protocol Obstruction of Justice Reg S-P FINRA Board Joshua Brown Rule 4513 Federal Reserve MF Global Taxes Dementia Reg D Bloomberg Appointments Clause Restaurant Charity Puts Affiliate PN Rule 12904 Affinity Fraud Rule 13805 Morgan Stanely Executor Unsuitable Stanford Rule 2081 USERRA Wire Transfer CEO Confidential EIA Ketchum Irreparable Harm Customer Information VIX Rosenthal Recruiting AAA Unregistered 11Cir Woody Allen Article V Aleynikov SAC Bandimere Circuit Court Khuzami Pennystocks ING Non Solicitation Inability to Pay Cannabis Membership Continuance Rule 12504 Funds Whistleblowing Bank Fraud Conflict Racism Statutory Disqualification Committee Shah Gilani Passcode Standing Biden Series 7 NoCA Phishing Wine Private Placements Termination Pennystock TheBlot Churning Hurry OIG High Frequency Trading 9/11 Broke And Broker Banc of America Day Trading Feigenbaum Raiding TSSB Check 4Cir Margin Call Medicare Sales Assistant Information Immunity Exhaustion of Administrative Remedies Testing Medical Condition Mutual Fund Obstruction Slander Star Wars HSBC Whitman Robert Cook Sarbanes Oxley Finra Government Accountability Project Outside Account Guitron Layering Test Center Yesenia Guitron Johnny Burris Absolute Immunity BrokeAndBroke Aguilar 1Cir Honorarium Motion to Compel Administrative Remedies Casino money laundering Rule 3030 Joint Account Relevant Disciplinary History Written Supervisory Procedures Hugh Hewitt Wanger Corzine Form ADV Vault Corruption Covid Deferred Compensation Hearing SunTrust OCIE Marine Corps JPM Rule 3310 Marines Statement of Corrective Action Ride the Thunder Disability Vietnam ICO Consent Order Rule 12212 Sexual Harassment Bid Rigging Eligibility Michael King 6Cir Michael King Associates Amazon AXA Hester Peirce NDCA signature Libel Poteroba Kon Lincoln Financial Side Bar Sharemaster Penson Trade Secrets Nietzsche Confidentiality Moon securities industry commentator EDNY ACH David Sobel McDuff White Commodities Fraud Probate Rule 2210 401k Failure To Supervise Unauthorized Practice of Law Chase Investment Services Self Regulatory Organization Saad NPR Marketplace Research PAQ Argentina Teleconference Laptop Constitution Breach of Contract Smith Barney Parking Ethereum Talman Harris Finder\'s Fee Accounting Subpoena Morgan Stanley Smith Barney 6th Circuit Attorneys Fees fraud Negligence Leveraged ETF FINRA AWC Online Third Party Vendor Chief Compliance Officer Lawyers IM TCR TIC Reuters David Lerner DNJ Acosta NY Life Female Gensler Crime Chevron Meals Rule 2430 Pruco Self Reporting Withdrawals Annual Audit Enforcement Cold Spring Advisory Group supervision Oral Discretion Fines Verbal Discretion Confirmation Backstage Wall Street Outside Counsel Fee Fiduciary Duty Stipulated Award 17a-5 Disciplinary History RICO SP FINRA Small Firm Do Not Call SIFMA Copyright SD CDO 401(k) Restitution Commissioner Stein Privilege Microcap Hospital Newport Coast Securities CMA Elder Law Over Concentration BrokerAndBroker.com Control Person FCPA Johnson S&P Reform Fowler 40 Act elderly Revocation Regulation S-P Dell RRBDlaw Death Trading Blank Forms Rule 21F Capital Gains Fine Kiting Rule 13504 Excessive Trading Scholander Rule 9554 Jennifer Tarr Red Flags Guest Bloggers Investor Alert Relevant Stockbroker Google NYG Capital Texting Counterfeit Client Information Judgment BrokeAndbroker Investment Adviser Stop Loss Risk YouTube LLC Data Settling Away Self Directed FMLA Prudential Permanent Bar Turnover Moore Netschi CD Money Market Florida VXX Non Solicit FOCUS State Actor Inmate Preliminary Injunction wrongful termination Arrest WaMu Timban Commodities NRF First Amendment Tax Fraud Elles Robinhood Password Congress Arbitration Puerto Rico Bonds Beneficiaries FCI Beaumont Fifth Amendment Respondeat Superior Rationale Department of Justice Equity Indexed Annuities Outside Accounts mail fraud Wires wire fraud FCI Thain Scottsdale Electronic Communications Motion Escrow Series 79 Attorneys\' Fees Rory Flynn BATS Schneiderman Life Insurance ESOP Resignation Inside Information Conflict of Interest Trader Regulation Son Obama 10b-5 11th Circuit Rule 9216 CGMI Expert Witness Selling Away 10b-10 Chiasson Rule 1031 Rule 2370 Sexual Discrimination Reverse Life Insurance Taft Correctional Institution OWWP Civil Rights Christian Stanley Service Gifts Elon Musk Notice Theft Allstate Transfer College Work Product Deferred Prosecution Agreement Texas State Securities Board Excel Anderson Lee Dinner Gabelli Proctor Orders DPA Wells Fargo Advisors Merrill Series 66 Daspin Bezos FDA Falsification Stock Promotion false statements Constructive Discharge Flash Drive Hayden Production Molchatsky GAP Disparate Treatment DWI Coin Dostoevsky MDLA EB-5 Ecuador Led Zeppelin Books and Records Cryptocurrencies Expense Fiero Sharing Agreement Capitalism Customer Files Wire Transfers Checking Burden of Proof iPhone Title VII Preet Bharara Game of Thrones Leveraged ETFs Supervisor Compromise Collateral Initials ADR Harassment Khan Jon Corzine Binary Options Short Sale Fourth Amendment Rule 12511 CMO Zoom Eric Stein CAT Quasi Governmental ADEA Rule 420 Allocation Exotic ETF Springsteen Cherry Picking Exhaustion Doctrine Life Settlement Non-Prosecution Agreement Vacate Customers Pacifico Solomon Obamacare Age Discrimination McCartney Wages Preliminary Determination Travel ALJ Foelak Summary Judgment Spoliation EEOC Examinations Racial Discrimination Payroll Chase Bank MSPB Oilpro Kent Rules of Practice Public Arbitrator Undercover Practice Sale Well Managed Portfolio Non Compete Berthel Fisher Impersonator BitTorrent Nasdaq Reasonable Turbeville Conflicts Beatles Frivolous Lewis Carroll NYLIFE Newbridge Tippee Altered Records BBVA Cybersecurity Executrix Merill Lynch Currency Lexicon FINRA Foundation securities fraud Vaccarelli South Park Guardian Punitive Gnomes Motiion to Acquit Alcoholism Cybercrime Goble MBS Twitter Covid-19 Jury Instructions Income Voya Trainee Fee NPI FAP Grievance BIll Singer Confidential Customer Information Bill Singer BrokeAndBroker State Farm PHC Father God Sears Liu Banks Legend UIT Martoma Janney Montgomery Scott QuadrigaCX Merger Motion To Dismiss Compliance Officer Mary Jo White Hackers Subway Malice Prime Bank Willfull Daughter Rule 2330 sexism 5Cir expenses National Securities Traders Extraordinary Circumstances Promoter Branch Manager SEC Rules of Practice Patriot Act Unauthorized Trades Women Witness Tampering Bank Secrecy Act Romer Mattera FinCEN JPMorgan Chase Books And Records Municipal Bonds ETFs bank Bill singer Principal Laser Office of Special Counsel Ten Commandments Law School Silver NML Diamonds Dylan Undertaking Tipper Evidence Harris Exception Reports Clayton Stipulation Arbitrator EDPA Section 206 Sterne Agee Lek Kennedy Swaps Bob Dylan Galleon Transamerica Boyland Altered Bank Guarantee Back Dated Tysk Kierkegaard Ethics NFA ACT! JAMS SIPC Default AIG Statute of Limitation Dissident Martin For Cause Baby Boomers Subject Matter Jurisdiction Rule 12104 Varney Hertz Powell RRBDLAW Naskovets Third Party Beneficiary Pension Skimming Investacorp Res Judicata IBM Koval Retroactive Extortion Retroactive Bar Cellphone Disney Criminal BrokeandBroker.com AWC. FINRA Mary Schapiro Sex US Airways Wang 1099 Collateral Bar Offset 9th Circuit ALJ Grimes Particularity Mistake Brokeandbroker.com Apartment Hurtado FNI Media Municipal Advisor NRSRO SDOH Bartko HBO 8210 Fraudulent Inducement Advisor Placement Group Court of Appeal Salman Schumer FTC Superior Court Deceased Customer Investment Advisers Act Scam Financial Disclosure Reason for Termination Murray Kenneth Starr Dow Tran Tennis Court Bribe Last Known Address Mantar Retired Woman With Cane Diabetes Countrywide Stephen A. Kohn William Faulkner Spam Walter Broy Nationwide Personal Information Blackbook In House Counsel Penalty Pershing Credit Repair Reverse Merger Compliance Questionnaire Cantor Fitzgerald Costa Rica Liquidation Securities and Exchange Commission House Financial Services Securities America Margin Calls Rule 144 Rule 3210 PSRO