RRBDLaw.com: February FINRA Cases
Feb 29, 2008 1:37 pm
_popupControl();Wall Street’s Dirty Little Secrets Uncovered and analyzed at http://RRBDLAW.com And irreverently chided at http://BrokeAndBroker.com February 29, 2008 Nationally-known securities-industry lawyer Bill Singer analyzes this month’s regulatory docket, and offers his provocative commentary. http://rrbdlaw.com/RegulatoryLinks/CASESOFNOTE/NASD/2008.htm http://rrbdlaw.com/RegulatoryLinks/CASESOFNOTE/NASD/2008.htm Walking Wounded? Two brokers tell their firms that some clients are disabled. Why? Well, it’s one way to get lower sales charges. It’s also a way to get in trouble. Still --- same violation results in a $20,000, requalification, and 2-year suspension for one respondent, but the other only draws a $1,000 fine and 4-month suspension. Edward Martin VanGrouw, E9B2003026301/February 2008 and Harvey Mitchell Schwartz, E102004083703/February http://rrbdlaw.com/RegulatoryLinks/CASESOFNOTE/NASD/2008.htm Where’s It Say That? FINRA cites a firm because it failed to report the "most egregious problem as alleged in customer complaints." Only problem is, there is no such rule requiring that disclosure. Legend Merchant Group, Inc. AWC/20060036818-01/February 2008 http://rrbdlaw.com/RegulatoryLinks/CASESOFNOTE/NASD/2008.htm Broker Can Ya Spare a Dime? Okay, so brokers are prohibited from borrowing money from customers, but bet you didn’t know that also can’t lend. Daniel M. Myers AWC/E9B2005014201/February 2008 http://rrbdlaw.com/RegulatoryLinks/CASESOFNOTE/NASD/2008.htm Mortgaging Her Future Employee overstated her salary, length of service, and title on an employment verification form she sent in connection with a home mortgage loan. Candice Elicia Hall AWC/2007008809001/February 2008 http://rrbdlaw.com/RegulatoryLinks/CASESOFNOTE/NASD/2008.htm Check Out Read about the poor guy who gave his employer an NSF check and got suspended and fined for his efforts. Gregory Gibala AWC/2007008400401/February 2008 http://rrbdlaw.com/RegulatoryLinks/CASESOFNOTE/NASD/2008.htm You’re Kidding Me—Right? I can understand forging a signature, but cutting and pasting? Andrea Marie Selander AWC/2007007771001/February 2008 http://rrbdlaw.com/RegulatoryLinks/CASESOFNOTE/NASD/2008.htm
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by e-mail at [email protected]
by fax at 720-559-2800.
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