RRBDLAW.com: June NASD Cases

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Jun 20, 2006 11:14 am

Wall Street’s Dirty Little Secrets:
  Uncovered and analyzed at
http://RRBDLAW.com<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />



<?:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />New York, New York
June 20, 2006


Every month Wall Street’s regulators issue disciplinary decisions that fine and suspend stockbrokers and their firms --- but many of the more interesting stories get buried among the sheer volume of cases.  Nationally-known regulatory lawyer Bill Singer analyzes the securities industry’s docket and provides insight and provocative commentary.  Here are some of the more unusual NASD items Bill uncovers at http://rrbdlaw.com this month:


http://www.rrbdlaw.com/RegulatoryLinks/CASESOFNOTE/NASD/2006 .htm



Suspension of Disbelief


In June we saw several cases in which suspended individuals were allowed to get paid commissions on remain on premises.  Is this problem becoming an epidemic?  Note that NASD took the extraordinary measure of forcing one individual to sell his ownership interest in a BD within 6 months.


Centaurus Financial, Inc./AWC/#E022004017602/June 2006


Kenneth Joseph Gilmore (Principal)/OS/#C9B20050022/E102003130805/June 2006


Johnny Phillip Figliolini, Jr. (Principal)/#E9B2003039303/June 2006

 Quickee Mortgage Applications?


Perhaps the start of an odd trend?  Wall Streeters are engaging in some odd efforts to defraud mortgage lenders.  


Epko Anthony Steele/#ELI20040286-02/June 2006


Lisa Marie Jalomo (Principal)/#E062004037101/June 2006




http://www.rrbdlaw.com/RegulatoryLinks/CASESOFNOTE/NASD/2006 .htm


RRBDLAW.com is a leading securities-industry legal/regulatory website.  The content is published by Bill Singer, a veteran Wall Street regulatory lawyer who represents both the industry and the public. 


Bill Singer
[email protected]