RRBDLAW.com: New FINRA Cases

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Jul 16, 2008 10:21 am

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http://rrbdlaw.com/RegulatoryLinks/CASESOFNOTE/NASD/2008.htm


Not a particularly dramatic month but a number of interesting disciplinary cases.  FINRA busted a trader for running the old Best-Bid-Best-Offer scam.  First you post a limit order through the prop account.  Then you place a non-displayed order to cross the markets.  Then you're off to the races.
 
We also have a wonderful example of regulatory doublespeak: It's no longer stealing.  No, now it's withdrawing cash withou permission from a bank!
 
Also looks like some analysts know how to write but maybe not how to read...at least not how to read the Research Rules.  Still got some clowns doing personal trades against their published recommendations, and also persisting in opening non-disclosed away accounts.
 
Enjoy!