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