RRBDLAW.com: NASD Docket

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Oct 23, 2006 1:00 pm

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

And irreverently chided at http://BrokeAndBroker.com

 

October 23, 2006

 

Nationally-known securities-industry lawyer Bill Singer analyzes this month’s regulatory docket, and offers his provocative commentary. 

 

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

<?:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Lawrence Michael Weinberg (Principal), AWC/#E1020040813-01/October 2006

Hot Issue violations making a comeback?  Haven’t seen one of these in a while.

David Matthew Garrity (Principal), AWC/#20050017487-01/October 2006

Analysts continue to run afoul of the prohibition against the restrictions on buying/selling covered securities --- and also seem to be oblivious to the restrictions on maintaining accounts away from one’s employing firm.

Leonel Federico, AWC/#20050018579-01/October 2006

A trap for the unwise --- even if you borrow money from a client and you think you’re following the NASD’s rules, you better be damn sure that you’re also in compliance with any in-house policies.

Robert Allen Dorman, OS/#2005001091801/October 2006

It may not be forgery if the client says “okay --- sign my name,” but it could still get you in trouble if your firm’s in-house policies say it’s a no-no.

Vanguard Capital, OS/#E052003017102/October 2006

Morgan Stanley DW Inc., AWC/#E9B20050107-02/October 2006

Mony Securities Corporation, AWC/#E1020040703-01/October 2006

Three well-known firms are fined for various supervisory lapses.  But --- wait a second --- if they were smaller firms, wouldn’t individual principals also be named and sanctioned?  Is NASD still pursuing a double-standard?

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

 

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

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http://www.rrbdlaw.com

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