An irreverent Wall Street Blog
by Bill Singer

Registered Rep. Magazine /

September 13, 2010

  

Street Legal: Roads Not Taken

There is a troubling lack of uniformity among regulators

http://registeredrep.com/advisorland/regulatory/finance_regulatory_consistency_roads/

To my eye, one trained through nearly three decades on Wall Street, I fail to appreciate any significant difference between PlanMember and China Yuchai - if anything, China Yuchai seems more directly involved in the software error that resulted in a $12.5 million reported error. As to PlanMember's liability, it seems largely predicated on its third-party vendor's miscue. While I understand that FINRA member firms must exercise reasonable oversight of outsider service providers, FINRA has not convinced me that this member firm's conduct warranted a censure and a $20,000 fine - particularly since a NYSE-listed company seems to have engaged in far worse supervision and merely agreed to a Cease and Desist order.

 
READ THE COMPLETE ARTICLE BY BILL SINGER AT

http://registeredrep.com/advisorland/regulatory/finance_regulatory_consistency_roads/
============================================

Don't Forget to Visit:

Wall Street's Leading Online Community:

http://BrokeAndBroker.com

 

http://BrokeAndBroker.com/index.php

 

The Comprehensive Online Wall Street Regulatory and Legal Website:

http://RRBDlaw.com

Permalink

Search BrokeAndBroker

Related Topics

Previous Entries

Tag Cloud

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