RRBDLAW.COM: April Enforcement Actions

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Apr 25, 2006 12:07 pm
We are seeing a number of regulatory agendas continuing in April.  The NASD has cited several respondents for improper sales materials --- including one firm for using a PowerPoint presentation that apparently modified material statements in a private placement memorandum.  Brokers continue to run afoul of the rules pertaining to borrowing money from clients.  The sometimes zany misuse of corporate credit cards and expense accounts is still a fertile source of complaints.  Finally, there are definite signs that brokers are returning to the improper practice of guaranteeing customers against losses in their accounts.
 
To read about some of these cases, log on at:
 
http://rrbdlaw.com/RegulatoryLinks/CASESOFNOTE/NASD/2006.htm
 
 
Apr 25, 2006 10:05 pm

It's easy enough to inadvertently run afoul of regulations.


How, in God's Name, do some brokers continue to believe that that their blatant malfeasances will escape tne notice of the regulators? 

Apr 26, 2006 12:19 am
Starka:

It's easy enough to inadvertently run afoul of regulations.


How, in God's Name, do some brokers continue to believe that that their blatant malfeasances will escape tne notice of the regulators? 



Ignorance.  Chutzpah.  Greed.

Lack of experience.