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FINRA and Lt. Col. Johnson Matter Resolved

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May 12, 2008 9:43 pm
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An irreverent Wall Street Blog
by Bill Singer Subscribe to RSS Feed: Blog Home | Past Entries FINRA and Lt. Col. Johnson Matter Appears Resolved! Written: May 12, 2008

As of approximately 4:30PM ET on May 12, 2008, the dispute between Lt. Col. Johnson and FINRA appears to have been resolved, and to have been accomplished in what I hope will be an amicable matter.  In order to avoid jeopardizing the resolution, I will abide by my own counsel and promises and not disclose the communications or discussions that may have engendered that result.  Suffice it to say that a large part of this mess seems to have been cause by the vagaries of the U.S. Military's postal system and the inherent difficulties of communicating with a soldier on active duty in a war zone. 

Finally, let me extend a heartfelt thank you to the hundreds of folks who communicated with me on Elton's behalf and sought to help with dollars or time.  Pointedly, I wish to express my sincere appreciation to both the Financial Industry Association (FIA) and the Securities Industry Professionals Association (SIPA) for their generous efforts on behalf of Lt. Col. Johnson.  To some degree, my confidence in our industry has been restored.

I hope to finally communicate directly with Elton tomorrow and will send him all of your best wishes.  Hopefully, what now appears to be a satisfactory resolution will become a firm, final one within the next few days.