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Bill Singer Analyzes New FINRA Cases

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Dec 22, 2010 2:24 pm


Regulatory lawyer Bill Singer has analyzed and posted the latest crop of FINRA disciplinary cases

You remember the old days when supervisors used pencils and erasers when reviewing trades? Remember the old codger Murray who insisted on doing thing his way -- and that meant giving everything the old eyeball?  Well, seems that FINRA isn't prepared to accept the "legacy" way of doing things in this new "digital" world.  Read how an old-fashioned "manual review" involving RRs subject to heightened supervision got one member firm in trouble.
READ HERE at folks do the wrong things for some right reasons -- then again, stealing from Peter to pay Paul isn't exactly okay.  Which is why it's tough to come to grips with this case involving a broker who stole money to fund an inner-city basketball team.
One Associate Person forged customer signatures and falsified documents in order to meet the production goal of his firm's affiliated insurance company.  Guess how well that short-cut worked.  
READ HERE at 010022662401
 A broker recommended that his insurance customers participate in a Stock-to-Cash program to the tune of over $4 million.  Oh boy, what a mess -- both for the broker and his supervisor.
READ HERE at and 


Okay, so, a bunch of senior guys are getting ready to jump ship and they tell a junior person to to alter the phone numbers of record for their clients. Wait -- there's more. The junior guy somehow gets caught. And, wait -- there's more. As part of his settlement with FINRA he agreed to be interviewed by FINRA at such times as FINRA may reasonably request and to appear and testify truthfully and completely in such investigations or hearings as FINRA may reasonably request
READ HERE at 2009017798901