Blog by Bill Singer WEEK IN REVIEW

December 19, 2015

SEC Fails To Destroy Daspin Death Star Over Cloud City Of Daspin

A long time ago in a regulatory galaxy far away, the Securities and Exchange Commission Empire was engaged in a period of civil litigation. Okay, maybe not so, so long ago, but how about back in 2013? Although the relatively low-budget litigation that I am presenting to you may not actually involve a Hollywood blockbuster film with real Death Stars and Millenium Falcons, you do know that there aren't "real" Death Stars and Millenium Falcons, right? 

And, while we're at it, just what the hell was going on with that Darth Vader guy and his wheezing? I mean, you know, if they could zip around the universe and blow up planets, couldn't they just give that guy an antihistamine?  

After Luke Skywalker found out that Darth Vader was his father, Anakin Skywalker, did the kid ever send him a Father's Day card? Speaking of cards, does Hallmark have one for a father who just cut off his kid's arm with a lightsaber, and would that card still cost more Canadian dollars than American? 

Okay, that's enough digression, sit back, give me a handful of popcorn, and enjoy today's Blog. 

Financial crimes against the elderly are all the rage these days. Hollywood depicts the crooks as handsome, dashing, young guys and dolls. They have fetching smiles. Killer bods. They live the lifestyle of fast sportscars, pricey condos, magnums of Louis Roederer, and all sorts of glitz and bling. The old folks earned the bucks. The young con artists steal them. In an interesting variation of the young ripping off the older, we have a recent case involving a 62-year-old fraudster, who just about qualifies as a geezer -- sort of depends on whether you buy into that 60-years-of-age line of demarcation (for the record, I am a bit past that line). READ

Merchant Suckers, Whore, And Little Bitch In FINRA Arbitration

By the time folks wind up in court or arbitration, you often have a lot of hurt feelings, simmering anger, and a camel one straw shy of a broken back. As a recent FINRA intra-industry arbitration shows, the boiling point may be quickly reached. Be warned: there's some nasty language in today' Blog -- and there's even an inappropriate video at the endREAD

The Merrill Lynch Stockbroker, The Deceased Mom, Her Son, And Transfer On Death

Here's a lovely holiday sentiment: In the end, we all die. Yeah, I know but what can I tell you, Wall Street's legal, regulatory, and compliance scene ain't always Ho, Ho, Ho. Sometime my job here is to warn you about how to file an insurance claim after your roof collapsed on Christmas Eve because some fat guy in a red suit gave hernias to a bunch of overworked, undocumented reindeer as they crash-landed an overweight sled and broke through your living-room ceiling. In keeping with that spirit, today's cheerful BrokeAndBroker Blog considers the claims of a deceased mother's son and how his anger over the handling of a Transfer on Death account besmirched a veteran stockbroker's reputation. READ