Skip navigation January FINRA updates

or Register to post new content in the forum



  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Jan 21, 2008 6:00 pm


Nationally known regulatory lawyer Bill Singer has just posted his updated analysis of FINRA’s January 2008 enforcement cases.  Visit at<?: prefix = o ns = "urn:schemas-microsoft-com:office:office" />


John Douglas Audifferen:  Okay, why does it take 8 years to investigate, charge, and adjudicate a relatively simple regulatory case – and we haven’t even started the appeals to the SEC or the federal courts?  The complaint here was filed the same year as the current war in <?: prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Iraq began.  Is this an example of how the wheels are coming off our country’s regulatory system?


Loeb Partners and MidSouth Capital, Inc.: FINRA imposes two dramatic sanctions.  One firm is suspended 6 months from approving certain private securities transactions, and the other suspended 30 business days from conducting certain research activities.  Focused, effective, and creative sanctions.  Now to see whether FINRA is serious about reforming the regulatory landscape.  Will we see similar suspensions of business lines for the wirehouses and banks who brought us the current subprime debacle?


Reginald M. Jones and Karen Denise Curtis: Curtis had a subordinate take Continuing Ed exams for other RRs.  Jones lied about passing a qualifying exam.  Who do you think got the worse sanction?  Frankly, I can’t understand the logic here.


Marat Lerner:  How come he gets a one-year suspension for opening fictitious accounts in order to meet sales goals. Okay . . . if that’s your answer, then explain the $2.9 million of 19 of the industry largest firms.  And the reason no individual exec at those firms was suspended is what???