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by Bill Singer

BrokeAndBroker.com Blog by Bill Singer Week In Review

December 13, 2014


When BrokeAndBroker.com Blog's Bill Singer describes a FINRA Arbitration Decision as a "disgrace," you have to know that he's really worked up and angry. Today, his ire is focused on an award of over $7.5 Million in an employment dispute between what appears to have been former military service veterans against Goldman Sachs & Co. As Bill so often asks in exasperation with FINRA: What the hell happened here and why won't you tell us? READ


On December 8, 2014, the United States Court of Appeals for the Second Circuit ("2Cir") In re: Bernard L. Madoff Investment Securities LLC (2Cir, 12-2557, December 8, 2014) affirmed the Southern District of New York's findings that declined to grant clawbacks to the bankruptcy trustee. FULL-TEXT Court Opinion Online at BrokeAndBroker.com. READ


Stripped to its basics, federal prosecutors had charged that portfolio managers Anthony Chiasson and Todd Newman; and analysts Sam Adondakis, Jesse Tortora, Jon Horvath and Danny Kuo shared inside information about such firms as Dell and Nvidia with each other, and the analysts forwarded their findings on to their portfolio managers. In a dramatic ruling, the federal appeals court reversed the convictions of two defendants. FULL-TEXT Court Opinion Online at BrokeAndBroker.com  READ


And now a trip back to the Federal Bureau of Investigations ("FBI's") online archive: "The Vault." This time we examine the just uploaded FBI files involving a seemingly mundane request from the producer of the blockbuster film "Goldfinger." READ


Stockbroker, Compliance, Legal, and Regulatory Jobs on the BrokeAndBroker.com "Employment Page." READ


You join a firm. You work there. At first, it's wonderful but, as these things often go, the wonderful fades and you begin to think of moving on. Then you learn of another opportunity, one which seems better than your present arrangement. At this point, it gets dicey. You think you have the right to compete with your former firm. Your former firm thinks that your idea about competition is based on a whole lot of illegal and tortious conduct, all of which gives rise to allegations that you stole confidential information and used it to talk smack about your former firm in an effort to get your accounts to transfer. Then, for good measure, someone at the former firm writes some nasty stuff on your Form U5 -- you say it's all lies but they say it's the truth. In today's BrokeAndBroker.com Blog, we consider a case in which many of the issues noted above get played out at an arbitration hearing. READ

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