An irreverent Wall Street Blog
by Bill Singer
 
Join BrokeAndBroker blog on Facebook  Follow the BrokeAndBroker blog on Twitter  Connect with BrokeAndBroker on LinkedIn  Join Bill Singer on Google+  Subscribe to RSS Feed

New FINRA Cases Analyzed at RRBDLaw.com
Written: September 2, 2009

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.
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


 
[^top^]

Previous Entries
May 21, 2015
Yesterday, I tried to predict the future. A few hours before the United States Department of Justice announced its settlement with JPMorgan Chase, Cit... Read On
May 20, 2015
It is now 8:30 a.m. EDT on May 20, 2015 and I am posting this BrokeAndBroker.com Blog without much enthusiasm – I think the fancy French word for ho... Read On
May 19, 2015
Stockbroker, Compliance, Legal, and Regulatory JobsEmployment PageBrokeAndBroker.com Jobs#wallstreetjobs@brokeandbrokerNOTICE TO EMPLOYERS: BrokeAndBr... Read On
May 18, 2015
The United State Court of Appeals for the Ninth Circuit ("9Cir") affirmed the Central District of California's ("CDCA's") judgment in a clas... Read On
May 18, 2015
There comes a point in a registered representative's career when it may simply be time to move on. For many reps who decide to relocate, the questions... Read On
May 16, 2015
Polygraph Expert Says It Ain't Lying, It's NervousnessDouglas Williams, the owner of Polygraph.com and a former Oklahoma City law enfor... Read On
May 15, 2015
Permit me to introduce you to Douglas Williams, the owner of Polygraph.com. Instead of writing a lengthy introduction about Mr. Williams, how about ... Read On
May 15, 2015
Today is a sad day for all guitar players, particularly those of us who started playing in the '60s. The legendary BB King has died. Eric Clapton perf... Read On
BrokeAndBroker.com Job Search


Related Topics
    Tag Cloud
    Internet FINRA Bear Stearns Bloomberg SEC NASD NYSE Money Laundering Due Diligence Waiver Forbes China Broy Woody Allen Madoff NAC NPR Marketplace Stanford UBS Ketchum Antitrust NASDAQ RRBDLAW Schapiro Bill Singer BrokerAndBroker USERRA Brokeandbroker.com Morgan Keegan Arbitration Counterclaim BrokeAndBroker.com Khuzami BrokeAndBroker Aleynikov Goldman Sachs brokeandbroker Promissory Note U4 Bill SInger EFL CFTC Huffington Post Flash Crash arbitration RBC RRBDLAW.com Ponzi Affinity Fraud Wachovia Criminal Raymond James BrokeandBroker.com Expungement Fraud Securities Fraud Outside Business Activity Registered Rep Magazine FOREX BrokerAndBroker.com FBI Banc of America Pro Se PCAOB Supreme Court Morgan Stanley Smith Barney E*Trade Margin email Galleon Penson U5 Defamation Protocol Wells Fargo Punitive Damages Citigroup Merrill Lynch ARS Employee Forgivable Loan Street Legal Morgan Stanley AWC Fidelity Bankruptcy Broke And Broker HFT David Sobel Day Trading Ameriprise Commissions Spouse Schwab Commission CRD Kenneth Starr IRS CNBC Complaint ATM Skimming Hacking Phishing Malware Naskovets Poteroba Koval Lincoln Financial Selling Away Outside Business Activities Rakoff 2nd Circuit Second Circuit IRA 401k Forgery Tax RRBDlaw.com Email Netschi Moore Whistleblower Street Sweeper Countrywide Tran Bharara Facebook Online Severance Bonus Eligibility Rule TD Ameritrade Hedge Fund SAC 1099 Smith Barney Lehman Brothers SIPC IC3 Scottrade Lehman JPMorgan Chase Hertz Insider Trading Bank of America Department of Justice Elles Bribe Auction Rate Securities Raiding Spam Edward Jones Medicare Diabetes Dow Schumer Thain Walter Bid Rigging Real Estate Discrimination Wall Street Statutory Disqualification Form U4 Form U5 Indictment Boyland DOJ Corruption bill singer FTC Do Not Call FINRA Arbitration Costa Rica Settlement LIBOR Varney Plea Rule 8210 Eligibility RRBDlaw 8210 Appeal Fowler LPL Johnson Cellphone US Airways JPM BrokeandBroker Reg D MSSB Vault Loan SunTrust Discovery Employment Rosenthal Recruiting Lawyer Trading Platform JP Morgan Employment Tuesday Wrongful Termination Bank Guarantee WaMu Solicitation REIT Martin Credit Cards Rule 3050 Away Account Credit Repair PN Advisor Placement Group Fifth Amendment Forex Mortgage Private Placement Moon CGMI Failure to Supervise Merrill Anderson Exam Lee Borrowing Tax Lien Conversion Oppenheimer Wedbush Felony Misdemeanor Expenses ING Lien OTR Estate Jobs Florida Credit Card Elderly Flash Drive Annuity Expense Reimbursement FNMA BrokeAndBroke TIC DWI Promissory Notes Suitability Will POA Power of Attorney Casino NSF MF Global Counterfeit Preet Bharara Corzine Hacker Deferred Compensation RIA Prison Disclosure NASAA Aguilar FCPA Subway Testimony Identity Theft Gold Dell Bar Injunction Bank Deutsche Bank Hospital Due Process God HSBC Private Placements Eric Stein Wire Fraud FINOP CCO Compliance Audit Joshua Brown Backstage Wall Street Obstruction of Justice Reuters Retaliation Variable Annuity Arbitraiton Outside Account Options Telephone Wine Series 7 Social Media ADA Pacifico Non-Prosecution Agreement Confirm Tax Fraud Retirement OBA Equity Indexed Annuities EIA Disability MetLife Continuing Education Cheating OIP Tax Liens Willful CE Unregistered Impersonation Annuities BBVA Business Expenses ETF JOBS Act Mail Fraud Parking Variable Annuities Signatures BitTorrent Impersonator Wire Transfer Wire Crowdfunding Nasdaq Away Accounts WSP Laptop Dodd Frank Checks RMBS AML PST Solicited Unsolicited Congress SRO Password Wife Discretion Non-Solicitation Restaurant Commodities Private Securities Transaction Offer of Settlement Money Market employment jobs Great Recession Chase Investment Services Arrest Barclays Liens Failure To Supervise Apple Time And Price T&P Willfully Husband Letter of Authorization LOA Sexism Debit Card Knight Test Practice Sale Unfair Competition Signature Judgments Undisclosed Settlement Trainee Fee Trust Laser Side Bar Mattera Female Sales Assistant Kennedy Charge Sexist NML Argentina Embezzlement Silver Investor Alert Evidence Judgment Bank Fraud Deceased Bill Singer BrokeAndBroker TSSB OHO Leveraged ETF Mary Jo White Trustee Motion To Dismiss Frumento Conspiracy 6th Circuit Proctor Commissioner Stein Rule 3040 Customer Files Class Action Beneficiary NYAG Schneiderman 11th Circuit Insurance Gallagher White Self Regulation Short Sale Compromise Website Rule 2010 Check TRO Supervision Vacatur Remand SDNY Rule 12206 BrokeAndBroker Bill Singer Piwowar Stifel Rule 1122 Article V signature Confidential Inside Information Reg SP VA Regulation SP Fees Cease And Desist Customer Rule 3270 Rule 3240 Annual Compliance Questionnaire OWB 2Cir Red Flags Payroll Stockbrokers ALJ Cybercrime Loans BrokerCheck Altered Records
     
    Email Bill Singer Connect with Bill Singer on Facebook Follow Bill Singer on Twitter Link up with Bill Singer on LinkedIn Join Bill Singer on Google+