RRBDLaw.com: FINRA Cases Update

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Jan 13, 2009 1:06 pm

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


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The December FINRA Enforcement cases are now online and analyzed by Bill Singer.  Note that December was a bumper month for improper borrowing from customers by brokers.  You have the classy broker who opened an unauthorized credit card account in the name of an elderly client, ran up a five-figure sum, and then tried to blame it all on a fictitious part-time employee.  Then there is the other broker who borrowed $30,000 from a living client and decided it was okay to only pay $1,000 of that debt back to the estate.