An irreverent Wall Street Blog
by Bill Singer

New FINRA Cases Analyzed at RRBDLaw.com

September 2, 2009

Home | Professional Services | Investor Resources | Broker Dealer | Blogs | Shopping Center | Employment | About Us/Contact

Veteran regulatory lawyer Bill Singer's analysis of recent FINRA cases is now online at http://RRBDLAW.com.  Make sure to click on the links to read Bill's commentary about these matters and more.

  • Jason Erik Stephens permitted a trainee to complete portions of the required continuing education online courses for his Certified Financial Planner (CFP) designation on his behalf. 
  • In an scheme to hold onto his title of "financial planner," John Kenneth Scheidler had firm representatives assist him in submitting a plan ostensibly for each of them, for which they each agreed to pay $300, to be repaid by Scheidler. Scheidler completed the plan paperwork for each representative, submitted the completed plans and received a total of $400 from his firm for submitting the plans. 
 Press reports indicate that FINRA has designs on becoming a larger self-regulatory organization -- perhaps into investment advisory and financial planning jurisdictions?  Is this the opening salvo against the Financial Planning Coalition's effort to create its own SRO?  Are the dogs beginning to mark their turf?
Shawn Steven Keller stole computer monitors and a telephone worth $4,400 from his member firm and pawned them for cash. Keller failed to respond to FINRA requests for information.  Don't think times are tough?  Looks like even brokerage firms need to start bolting down their equipment.  Of course, that's not going to be much comfort to already wary investors.
Shortly before resigning from her firm to begin working at another member firm, Donna Rae Jordan deleted certain customer telephone numbers and made inaccurate updates to other customer telephone numbers to slow down other registered representatives at the firm who Jordan believed would be assigned to call her customers after she resigned.  Industry outsiders often have little idea about the dog-eat-dog atmosphere at many branch office around the country.  Here is yet another example of the fun and games that individual stockbrokers play in order to protect their client lists from poaching (or, as the Broker Dealer would argue, to wrongfully interfere with their employer's access to such data).  Either way, this is a long festering wound that needs to be addressed.
Gail Sylvenia Frick was provided with a money order by a customer in order to open an account at her member firm on behalf of the customer's children. Unfortunately, Frick misplaced the money order and decided to deposit $1,100 of her own personal funds into an account at her firm for the benefit of the customer's children without notifying the customer or the firm.  There is an old line that the road to Hell is paved with good intentions (and the corollary that no good deed goes unpunished).  See how Frick's decison to take dollars out of her own pocket resulted in a fine and suspension.
Home | Professional Services | Investor Resources | Broker Dealer | Blogs | Shopping Center | Employment | About Us/Contact
ABOUT:  BrokeAndBroker.com and RRBDLaw.com lambaste the ineffective regulation of Wall Street and advocate for the rights of defrauded investors, independent/regional firms, and individual registered persons. Provocative commentary by veteran regulatory lawyer Bill Singer.

See Bill's online resume at http://rrbdlaw.com/bios_singer.html

Media Contact:

(917) 520-2836

rrbdlawyer@aol.com

VISIT WALL STREET'S LEADING ONLINE COMMUNITY
BrokeAndBroker.com

Permalink

Search BrokeAndBroker

Related Topics

Previous Entries

Tag Cloud

Bill Singer BrokeAndBroker FINRA Arbitration AWC SEC BrokeAndBroker.com Expungement Employment Street Sweeper Jobs Bill SInger Wells Fargo Fraud OBA Promissory Note Email U5 U4 Wire Fraud Forbes FBI UBS Merrill Lynch Elderly EFL ALJ Statutory Disqualification Morgan Stanley Citigroup PST Defamation Borrowing Ponzi Rule 3270 Suitability Outside Business Activity OIP Whistleblower BrokerCheck Wachovia IRS Supervision Form U4 Felony Bank CRD Wrongful Termination Willful Mail Fraud NAC DOJ SDNY Supreme Court Insider Trading BrokerAndBroker Expenses Employment Tuesday Form U5 Raymond James Conversion Madoff Discretion Bankruptcy Punitive Damages Rule 3040 Credit Card Forgery Pro Se Ameriprise Checks CCO Rule 3240 Rule 2010 Dodd Frank RIA OHO WSP Indictment Private Securities Transaction Real Estate Discovery Outside Business Activities IRA JP Morgan Commissions LPL Exam Street Legal Willfulness Rule 1122 NASD Tax Wife Power of Attorney Facebook ATM Settlement Estate Rule 8210 Tax Lien Impersonation Bar Guest Blog Business Expenses Case In Point NYSE 2Cir Wall Street Husband Corrective Action Statement Test Rule 2080 Small Firm Antitrust Bank of America Edward Jones Stephen Kohn Wire SRO Schapiro Mortgage Trust Appeal Offer of Settlement Tax Liens Schwab Employee Forgivable Loan Goldman Sachs Margin Annuities Rule 2510 HFT Securities Fraud Trustee NASAA Conspiracy Rule 3280 Promissory Notes ETF Misdemeanor Spouse Complaint Signatures Loan Cease And Desist Fidelity Initial Decision ARS Injunction Chase NSF Flash Crash Beneficiary T&P Money Laundering Lien Due Diligence Huffington Post LOA Signature VA Away Account NASDAQ Barclays Registered Rep Magazine Annuity POA Hacker DCCir Gallagher Credit Cards BrokeAndBroker Remand Liens Bharara RBC Variable Annuity MSSB Unfair Competition CFTC Continuing Education Lehman Brothers Bonus RRBDLAW.com PCAOB Eligibility Rule FINRA Arbitration E*Trade Malware Letter of Authorization Deutsche Bank employment Mandatory Arbitration Annual Compliance Questionnaire email Unauthorized Discretion OTR Solicitation Forex Identity Theft Rule 3010 Wey Website JPMorgan jobs Fiduciary Stockbrokers Spouses LIBOR Scottrade Hacking Second Circuit Undisclosed Settlement Insurance Prison Away Accounts Wedbush Rule 3050 2nd Circuit Stay Net Capital Failure to Supervise Social Media Rule 12206 arbitration Registration Newman Private Placement RRBDlaw.com Telephone Trading Platform IC3 FINOP Time And Price Judgments Great Recession Private Securities Transactions Audit Options Broker Protocol Customer Complaint Reg SP Internet TRO Bureau of Prisons BOP Brummer Compliance Solicited Burris 10Cir Will FOREX Guest Blogger Rule 4511 Confidential Information RMBS DOL Protocol MetLife Rakoff Hedge Fund Unauthorized Trading Willfully NYAG Apple Self Regulation Auction Rate Securities Rule 12805 BrokeAndBroker Bill Singer Unsolicited Knight Piwowar Rule 4530 Rule 2111 BrokeandBroker Obstruction of Justice Cheating OWB Retirement Sanctions Examination Divorce China Plea Spoofing Dissent brokeandbroker ADA Explained Decision Bandimere Class Action Shah Gilani Affiliate Phishing Executor Confidential Commission Regulation SP Customer Disclosure Vacatur Disgorgement Check Kiting Sanction Guidelines MF Global Motion to Dismiss PNC Botkin OSHA REIT EIA Wire Transfer Variable Annuities Hurry Wine Postponement Board Reg D Joshua Brown Arbitraiton Crowdfunding Discrimination Debit Card Lehman SAC Charge Sexist Due Process Gold Medicare Passcode Raiding Article V Unsuitability PN Retaliation IPO Khuzami High Frequency Trading Woody Allen Affinity Fraud Banc of America Aleynikov Morgan Keegan Ketchum Charles Schwab Marketplace Teleconference USERRA Commodities Fraud Customer Information Unjust Enrichment Embezzlement Charity 401k Finder\'s Fee Employment Agreement Aguilar Poteroba Rule 12200 Hearing Smith Barney Sexism Widow Testimony Oppenheimer Whistleblowing Personal Expenses Waiver Mutual Fund Disability Side Bar Guitron Statement of Corrective Action Confirm Eligibility Ride the Thunder HSBC Jurisdiction Statute of Limitations Sales Assistant Reg S-P CE Unregistered McDuff Rule 2081 JOBS Act Private Placements Government Accountability Project NPR Stanford Parking Yesenia Guitron Marine Corps Stifel CEO Vietnam Marines Pennystocks Online Series 7 Termination Vault MC-400 Failure To Supervise Corzine 9Cir Lucia Laptop Bank Fraud Bid Rigging Pennystock Conflict Reimbursement Casino Morgan Stanely Chief Compliance Officer ACQ Check Information Deceased Appointments Clause 6th Circuit Rule 3030 Fees Kon OIG Bloomberg Penson Day Trading Bear Stearns Self Regulatory Organization Whitman Lawyer Rosenthal Recruiting bill singer Deferred Compensation White Corruption Testing WSPs Indemnification ING Morgan Stanley Smith Barney Timban Consent Order Unauthorized Practice of Law SP 11th Circuit Schneiderman Chiasson TIC FOCUS CGMI Moon Department of Justice Research OWWP Backstage Wall Street 40 Act Elles Red Flags FNMA Medical Condition Judgment Inmate Emails Guest Bloggers Dakota Securities Zipper Negligence Suspension Investor Alert Severance Scholander Written Supervisory Procedures Layering TheBlot Do Not Call expungement OCIE TD Ameritrade Tax Fraud Rule 13805 Equity Indexed Annuities Argentina Verbal Discretion BrokerAndBroker.com Compensation Broke And Broker FINRA AWC David Sobel Bonds CNBC Elder Abuse WaMu 401(k) Small Firm Governor BATS Imposter Administrative Remedies Female Circuit Court Margin Call Scottsdale Rule 2150 FCI Beaumont TSSB Non-Solicitation Restaurant Commodities Reverse Life Insurance AML Taft Correctional Institution Thain Christian Stanley Outside Accounts IAR FCI Third Party Vendor Accounting Arrest Chase Investment Services Form ADV Client Information Frumento 4Cir Lincoln Financial Fifth Amendment Netschi Moore Rule 2370 Stipulated Award Rule 1031 Investment Adviser Stockbroker Stifel Nicolaus Sexual Harassment Johnny Burris Counterclaim CPA Hospital Rule 9216 Rule 3110 Dementia Probate RRBDlaw Dell Florida Outside Account Trade Secrets Fowler Leveraged ETF Inside Information Tortious Interference Securities Industry Commentator Credit Suisse Loans House Financial Services Boyland Walter Cherry Picking Sharing Agreement Broy Falsification Exhaustion Doctrine Books and Records Fourth Amendment Aegis Frumento Mary Jo White Bill Singer BrokeAndBroker Enforcement Death Pacifico S&P Obstruction Regulation S-P Constructive Discharge Motion To Dismiss Non-Prosecution Agreement false statements Varney Wages JPM Galleon Pension Martin FINRA Board Tennis Court Apartment Retired Woman With Cane US Airways Practice Sale Credit Repair Undercover BitTorrent Escrow Impersonator Cellphone Disciplinary History Johnson McCartney Springsteen Withdrawals Sex SunTrust Turbeville Password Goble Congress Resignation RRBDLAW Money Market Scam Reverse Merger Board of Governors Bank Guarantee Obamacare Permanent Bar Wanger Nasdaq 8210 Motion to Vacate Star Wars Google Lee Stop Loss SEC Rules of Practice Hugh Hewitt Evidence Personal Information PAQ Martoma Mutual Funds Over Concentration Elder Fraud FINRA Small Firm Trading Costa Rica FTC Currency AWC. FINRA Silver Laser BBVA Compliance Questionnaire Trainee Fee Data Brokeandbroker.com Advisor Placement Group Public Interest Mattera 9th Circuit Attorneys\' Fees Anderson NML Merrill Inability to Pay Kennedy Kent LLC Theft Blank Forms Compromise Cybercrime iPhone Short Sale Undertaking Office of Special Counsel Attorneys Fees Subpoena Tippee Customers VIX VXX Branch Manager Eric Stein Fine Supervisor 1099 Naskovets Rules of Practice Membership Continuance AIG Churning Texas State Securities Board Fiduciary Duty BrokeandBroker.com Statutory Disqualification Committee CDO Sexual Discrimination SIPC Spoliation Skimming Tipper Expense Lek Rule 420 FMLA Oilpro Federal Reserve DWI Mother Selling Away Fines Salman Rule 13200 Subway God Privilege Collateral Settling Away Countrywide Joint Account Tran Fiero Motion Rule 9552 Electronic Communications Euro Koval Prime Bank Quasi Governmental FCPA Solomon Lawyers Wells Fargo Advisors Liquidation BrokeAndBroke Excel Relevant Non Solicitation EDNY Leveraged ETFs Mary Schapiro Trader Counterfeit Nationwide FDA Customer Files Concentration Promoter Lewis Carroll Securities and Exchange Commission Kiting CRS Taxes Retroactive Bar Initials 1Cir Summary Judgment NRSRO Reform AXA Dow Gabelli Diabetes Rule 2210 BD Schumer Fee Municipal Advisor Manifest Disregard Checking Commissioner Stein Spam Collateral Bar Standing Books And Records Proctor David Lerner Reason for Termination Flash Drive Test Center Murray Immunity signature GAP FNI Media ACH Stock Promotion In House Counsel Altered Records Kenneth Starr Outside Counsel Criminal Hertz Pruco Preet Bharara Jon Corzine PIABA Bribe Oral Discretion TOD Bartko Payroll Reuters Retroactive NYG Capital Disparate Treatment Executrix