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