Barred Stockbroker Barred Again
For Wire Transfers From
Elderly Client
Talk about a spoiler alert - consider this ominous introductory
statement in a Financial Industry Regulatory Authority ("FINRA") disciplinary decision:
This is a serious case of a broker in severe financial difficulty who engaged in a scheme to convert customer funds in order to pay his personal expenses and to conceal this misconduct from his firm.
Ummm, yeah, okay - so, what FINRA is hinting at is that this
isn't going to turn out well for the stockbroker respondent, right? Gee, talk about telegraphing the bad news.
READ Bill Singer's full analysis of this fascinating FINRA case at his Forbes' "Street Sweeper" column.
Imagine that Joe, Jack, and Jim are charged with a criminal conspiracy, but Joe and Jack refuse to plead guilty. In contrast, Jim fully cooperates aga... Read On
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Submitted for your consideration: Staff Bulletin: Standards of Conduct for Broker-Dealers and Investment Advisers Conflicts of Interest (SEC... Read On
Originally published as:"FINRA Report Refutes Court Finding Of Fundamental Unfairness In Leggett Arbitration" (BrokeAndBroker.com Blog / June 30... Read On