2009 FINRA Cases: Analysis by Bill Singer

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Jan 20, 2009 5:34 pm

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http://rrbdlaw.com/RegulatoryLinks/CASESOFNOTE/NASD/2009.htm


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Bill Singer’s analysis of the just-released January 2009 Financial Industry Regulatory Authority (FINRA) cases is now online.



Lots of cash seems to be changing hands between brokers and customers these days.  We have a number of cases where brokers are paying customers hush money not to file complaints or to settle some embarrassing issues.  On the other hand, we have a couple of folks who got sanctioned for lending money to their customers!  Don’t believe it – well, read the Tipton and  Chiappetta cases.



Then there is the ever troublesome Taping Rule that is supposed  to force certain firms to monitor brokers’ telephone conversations.  Read about one firm that essentially set up a porous system that allowed brokers to erase their calls. See, Carlton Capital.



And then there is the somewhat humorous (painfully so) case in which one, Stephen Colley Harris, actually cut and pasted signature onto a form—and then submitted the documents.



http://rrbdlaw.com/RegulatoryLinks/CASESOFNOTE/NASD/2009.htm