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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917-520-2836


http://www.rrbdlaw.com


http://www.BrokeAndBroker.com