Blog by Bill Singer WEEK IN REVIEW

November 11, 2017

97 Year Old Client Names Stockbroker Executor And Beneficary

In today's Blog, publisher Bill Singer, Esq. considers yet another case in which a stockbroker is appointed both an executor and beneficiary of an elderly client's estate. Yeah, sure . . . roll your eyes and shake your head because such a circumstance should warrant concern. On the other hand, when you read the fact pattern, you'll see that there are some nuances to this particular matter that may dispel some of your first impressions. READ

Five Not So Easy Thought Pieces About Pro Se FINRA Arbitration

You got your five easy pieces. Then you got your five not-so-easy thought pieces about Wall Street employees representing themselves in FINRA arbitrations against their former employers. In today's featured Blog commentary, our publisher Bill Singer, Esq. dissects a fairly mundane pro se Claimant's case against TIAA-CREF. Bill asks important questions about the pros and cons of such amateur hour lawsuits. If your finances are such that you can't afford a lawyer, consider some of the issues raised in the article. READ

SEC Nixes Stay Of Statutory Disqualification ( Blog)

When FINRA finds a Respondent has engaged in a willful failure to disclose, that determination typical earns a statutory disqualification. You ask FINRA and the self-regulator will argue that it did not impose the SD but that it occurs by operation of law. FINRA claims that it does not impose a "statutory disqualification" but merely a finding of willfulness, which triggers the disqualification. That all may strike you as a lot of esoteric, legal mumbo jumbo. It may well be. On the other hand, an appeal of a FINRA finding of willfulness is now on the SEC's radar screen and the ramifications of this academic debate take on very serious real-life consequences.

FINRA Schrodinger Cat Is Dead, Alive, And A Zombie

In quantum physics, the famous Schrodinger's Cat experiment illustrates the difficulty of knowing when the so-called "quantum superposition" ends. In simpler terms, physicists had unintentionally adopted conflicting positions that amounted to proof that at any given time you could have one thing in two states -- sort of like a cat in a box that was dead or alive. Of course, the laws of physics tend to require an either/or choice, so the only way to know whether the proverbial cat was dead or alive was to look inside the box. Which may explain why so many of us failed High School math and science. On Wall Street, we have added a third possibility to the cat's life or death; namely, that the cat may also be a zombie and, therefore, one of the living dead. READ

Federal Appeals Court Deems FINRA Deputy Of The Federal Government

Starting in 2009, the Financial Industry Regulatory Authority went toe-to-toe with Antony Lee Turbeville, the former Chairman and CEO of the former FINRA member firm Brookstone Securities, which went down for the count in 2012. Turbeville held on to FINRA for as many rounds as possible but, in the end, he lost by a KO at the self-regulatory-organization and, thereafter, by TKOs during both the and Exchange Commission's appellate review and in a separate civil lawsuit he filed against FINRA. Today's Blog offers a blow-by-blow post-fight analysis. READ

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