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Jan 8, 2009 5:24 pm

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Vote for David Sobel, Esq. for FINRA's National Adjudicatory Council

Written: January 8, 2009

To my many friends and colleagues in the FINRA Dissident/Reform Movement:

Okay, so just when I thought I was out, they pulled me back in.  My conscience will not permit me to sit this one out. 

FINRA's National Adjudicatory Council (NAC) plays a prominent, pivotal role in the regulatory process.  It is your last hope for justice when a FINRA Hearing Panel unfairly rules against you.  I can't pretend to be a fan of the way FINRA investigates and prosecutes.  You know my thoughts on that situation from over a decade of commentary.  Similarly, I can't pretend to be a fan of FINRA's hearing process.  Too often, folks sitting on the panels as non-Hearing Officers have been appointed as part of an overall agenda that has divided our membership into those with influence and dollars versus those without.  Frankly, our entire regulatory system has become too inbred with cronies and hacks, and I see little alternative but to go outside that cozy circle and bring in new folks with better ideas.  I am sure that all of the candidates seeking election to the NAC are decent, sincere men. I also have no doubt that if elected, they will do their utmost to discharge their duty as they see best. I ask nothing more of you than that you take the time to consider every candidate's background and demeanor, and vote for the one you deem best qualified.

Nonetheless, I personally support the candidacy of David Sobel.  I have re-printed verbatim David's Petition as he has provided it to me and will let it speak to his qualifications and integrity.


You no longer have the luxury of simply checking off the box next to the names of those nominated by FINRA's nominating committees.  You no longer have the luxury of wadding the ballots into a ball and trying for a three-point shot into the farthest garbage pail.  One day, you or your firm may get caught in the regulatory vice of FINRA.  Pray that a David Sobel is on the roster of NAC panelists if you have been victimized by unfair regulation.

Please fill out and return David's Petition.  Visit for details.


Bill Singer