A number of Wall Street compliance and regulatory folks have contacted me about the supposed secret talks rumored to be ongoing between the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Although I cannot vouch for the authenticity of this video, an anonymous source sent me this tape, which the source says shows how the SEC and FINRA are attempting to grapple with the FocusShares mini-Flash Crash and the David Sokol / Lubrizol / Berkshire Hathaway situation.
Again, I cannot verify the authenticity of the tape. If you watch and listen carefully, you may be able to understand how regulatory organizations monitor Wall Street and you may gain some insight as to their plans to better regulate the securities markets.
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