Ah yes . . . the old Wall Street game of hardball! Time and time again during my decades in the biz I've seen this particular bit of nasty gamesmanship. If you believe James' version of events, he was being strong-armed by Investacorp to sell his book of business on less than favorable terms. If you believe Investacorp's version of events, the firm simply thought it was acting in the best interests of James' clients and out of concern for some pending regulatory issues. All of which tends to devolve into we can do this the easy way or the hard. Funny how it's almost always the latter option.
Guest Blogger Aegis Frumento, Esq. considers the recent Supreme Court reversal of the convictions in Bridegate and the motion by DOJ to dismiss criminal charges against Michael Flynn -- and Frumento wonders: When should the law get involved? It's a big question. And in these times of political turmoil and pandemic, it's a question worth asking and one that Frumento attempts to answer.
As the pandemic sweeps across the financial services industry, trading floors are eerily quiet, desks are bereft of men and women, offices are darkened -- and much of what passes for doing business is conducted from home. In a recent FINRA Intra-Industry Arbitration case, we see the shadow of COVID cast a long and dark presence over our industry. We have a former Barclays derivatives trader with a nearly 16-months-old employment dispute waiting to be heard by FINRA arbitrators. We have an arbitration hearing conducted by ZOOM.
In recent weeks, the press has been awash with stories about payment for order flow. You've seen it pop up in all its sordid glory via revelations abo... Read On
Whatever you do, don't lie to FINRA. I can't even begin to recount the number of times that I have given that admonition to a client. You wouldn't thi... Read On
BrokeAndBroker.com Blog publisher, Bill Singer, is no fan of Wall Street's version of self regulation, as spearheaded by the Financial Industry Regula... Read On
The Saga of FINRA Versus Kimberly Springsteen-Abbott(2015 - 2021 -- and maybe not done yet)FINRA placed Kimberly Springsteen-Abbott squarely in its re... Read On
GUEST BLOG: COVID-19's Impact on Financial Advisors / How the Pandemic is Changing the Way Advisors Work by Michael King of Michael King Associates (B... Read On
If there's one thing that's certain about the COVID-19 pandemic, it's that it has changed the way we work and interact with one another. From virtual ... Read On
Someone lost about $100 from a Bank of America drive-up ATM. Someone found it. That first finder wasn't a keeper. That first finder gave the $100 to a... Read On