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