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.
Some eight years ago, two Raymond James reps decided to work together. Apparently, a goal of the work relationship was to facilitate the contempl... Read On
There's Raymond James Financial Services, Inc. There's Raymond James & Associates, Inc. You even got the Raymond James Stadium. That's a lot of Ra... Read On
Imagine that you got a stockbroker. Imagine that you got an elderly customer. Imagine that the client drafts a Will. Now imagine how the intersection ... Read On
Structuring of Eight Bank Deposits Earns FINRA Suspension (BrokeAndBroker.com Blog)http://www.brokeandbroker.com/5812/finra-awc-smith/FINRA says that ... Read On
A FINRA AWC found that a registered rep borrowed money from two customers, but the loan wasn't actually made directly to the rep but to her limited li... Read On
As readers of the "Securities Industry Commentator" and the "BrokeAndBroker.com Blog" know, I am no fan of many of FINRA's press releases and have res... Read On