An irreverent Wall Street Blog

BrokeAndBroker.com Blog by Bill Singer WEEK IN REVIEW

July 2, 2016

OPEN CALL For BrokeAndBroker.Com Blog Guest Contributors


If you would like to pitch a Guest Blog for the BrokeAndBroker.com Blog, please send a brief outline of the proposed article to rrbdlawyer@gmail.com. I don't open attached files from unknown senders, so make sure that your pitch is in the text portion of the email. I welcome all views and perspectives, even when they erroneously conflict mine. Please do not send me puff or marketing pieces. I am accepting serious regulatory/legal/compliance commentary on important cases and developing issues. Also, I am seeking thoughtful observations about investing and market trends. Customer advocates and unrepentant industry apologists are all welcome. There is no compensation offered; however, I am happy to include in any article your direct contact information and professional biography, as noted in this recent offering: "Get On Board With New FINRA Rule 2273 Before You On-Board Registered Reps'" (BrokeAndBroker.com Blog, by Myles Blechner, July 1, 2016). If you can demonstrate a responsive audience for your musings, I will even consider a permanent column for you on my site. If you've got the writer's itch, scratch it at the BrokeAndBroker.com Blog. Send submissions to: rrbdlawyer@gmail.com

Get On Board With New FINRA Rule 2273 Before You On-Board Registered Reps
 July 1, 2016
by Myles Blechner, Senior Consultant, NCS Regulatory Compliance

Effective November 11, 2016, Financial Industry Regulatory Authority ("FINRA") FINRA Rule 2273: Educational Communication Related to Recruitment Practices and Account Transfers will require member firms who recruit Registered Representatives to deliver an educational communication to all clients being solicited to transfer their accounts. NCS Regulatory Compliance Senior Consultant Myles Blechner walks you through the new requirements and provides you with full-text versions of Rule 2273 and the FINRA Educational Communication. READ


A former registered representative seeks about $600,000 in damages from his former employer amid allegations of defamation and wrongful termination. It's a familiar refrain; however, that familiarity makes nothing less painful for any former employee.  The disgruntled rep girded for battle and represented himself. That whole pro se thing is often a prescription for disaster but no so this time around. The Claimant walks away with his pockets filled with cash and an expungement of his record. READ


Welcome to FINRA's masquerade ball where the self-regulatory organization hides two entire countries behind a mask of secrecy in a recent regulatory settlement despite naming one American state and one British territory and one sovereign nation in the same document. All of this inconsistent and ironic subterfuge takes place on the pages of a settlement agreement involving alleged failures to disclose. After you get lost in that lonely game FINRA plays, sit back and enjoy an absolutely amazing music video with George Benson, Chaka Khan, and Ray Charles! READ


If you read through today's FINRA arbitration commentary by Bill Singer, you will come across what seems a fairly mundane employment dispute between former employee Bell and his former employer Wedbush, with Bell seeking at least $1.25 million in damages. As is often the case, the FINRA Arbitration Decision is minimalist in its presentation of the underlying dispute; and about all we know is that the Claimant asserts that he sustained damages as a result of various breaches and a wrongful discharge. At the end of today's blog is a Postscript, which may open your eyes and drop your jaw when you realize that there was far more to this employment dispute than was presented in the Decision. READ


And so it continues. Achilles dies. The Greeks build a wooden horse. Troy falls. Odysseus attempts to make his way home but is shipwrecked. Administrative Law Judge Elliott returns to Washington, DC and demolishes a food-vending machine at the Securities and Exchange Commission. One of the SEC Staff realizes that they have left the retired woman with cane behind but when they ask Federal Bureau of Prisons to release her, they receive a letter providing instructions on how to file a Writ of Habeas Corpus. This all sound far fetched and comical?  Not as much as you might think. Sadly, not by a long-shot. READ

Permalink

Search BrokeAndBroker

Related Topics

Previous Entries

No Headlines Found

Tag Cloud

Bill Singer BrokeAndBroker FINRA Arbitration AWC SEC BrokerAndBroker Expungement Guest Blog Guest Blogger Aegis Frumento OBA Wells Fargo U5 BrokeAndBroker CRD InSecurities OHO Email Morgan Stanley Defamation U4 NAC ALJ Merrill Lynch BrokerCheck PST Supervision Whistleblower Statutory Disqualification Securities Industry Commentator Rule 3270 Suitability DOJ SDNY Promissory Note Rule 2080 Elderly Rule 2010 Willful WSP OIP Form U4 Wire Fraud Pro Se Rule 8210 EFL UBS Expenses RIA Form U5 Dodd Frank Stephen Kohn Business Expenses TRO Discretion Rule 1122 Bar Willfulness IRS Bank JP Morgan Fraud Discovery Wife Trump Ameriprise Husband NASD Bill SInger FAA Rule 3240 Borrowing Small Firm Conversion Supreme Court Rule 3280 Crypto Edward Jones Margin Wrongful Termination IRA Raymond James CCO Insurance 2Cir Estate Frumento Corrective Action Statement Outside Business Activities Stay Rule 12206 Mail Fraud Schwab arbitration Punitive Damages Tax LPL Promissory Notes Customer Bankruptcy Beneficiary Explained Decision TD Ameritrade Felony COVID Remand Citigroup Motion to Dismiss Options BrokeAndBroker.com Commissions Settlement Trust Case In Point OWB Injunction CFTC ACQ Board DCCir Rule 4511 OTR Initial Decision Retaliation Blockchain Sanctions Rule 3040 Tax Liens Ponzi Rule 2510 Wall Street Motion to Vacate Burris Due Diligence Forgery Spouses 9Cir Rule 4530 Discrimination Jurisdiction Eligibility Rule Unauthorized Discretion Reg SP Personal Expenses Unsuitability Offer of Settlement Rule 12200 Solicitation Outside Business Activity FBI Mandatory Arbitration SRO Insider Trading Bank of America Rule 3010 Compliance Failure to Supervise Checks NYSE Barclays Annuities Manifest Disregard ETF CRS Goldman Sachs Private Securities Transaction Divorce Disgorgement Loan Dissent FINRA Board Rule 3110 10Cir Class Action Cease And Desist PCAOB Fiduciary Conspiracy email Trustee Board of Governors Impersonation Power of Attorney Reimbursement Rule 9552 Credit Card IAR expungement VA Broker Protocol Unfair Competition Spoofing Spouse Cryptocurrency Customer Complaint Liens AML Zipper Emails Annuity Away Account T&P Tax Lien JPMorgan Complaint Indemnification Retirement Wey Disclosure Lucia SDFL Kokesh Due Process POA BD Breach of Contract Appeal MC-400 4Cir Lien Bitcoin Rule 12904 Willfully Coronavirus Public Interest Unauthorized Trading Postponement Racism BOP Severance REIT 3Cir Indictment Elder Abuse Securities Fraud Vacatur Fees Antitrust HFT Brummer Exhaustion of Administrative Remedies Dakota Securities Rule 12805 CMA Net Capital Test Motion to Confirm Rule 2111 Signature Covid Hilton Weiner Whistleblowers Wire Rule 3050 WSPs insecurities guest blogger guest blog aegis frumento Rule 2150 Employment Sexism Whistleblowing Statute of Limitations Marijuana PNC RR Suspension Gensler NASDAQ Deceased Widow Private Securities Transactions Examination Bureau of Prisons Money Laundering OIG BrokeAndBroker.com Blog Robinhood Stifel Nicolaus Sanction Guidelines Deutsche Bank PIABA Loans Bonus Rule 2081 Apple Stifel Signatures DNJ Non Solicitation Audit Will DOL Puts Bonds Leggett Puerto Rico Rule 13200 Preliminary Injunction Confidential Information Enforcement 11Cir Botkin Rule 4513 Misdemeanor Charles Schwab Self Regulation Great Recession OSHA Elder Fraud Mortgage TOD Absolute Immunity JPMS Margin Call Unjust Enrichment Mutual Funds CPA Membership Continuance Credit Suisse Statutory Disqualification Committee Hacking Registration Commission Unsuitable Small Firm Governor NoCA Website Rationale Diversity 1Cir supervision NDCA TheBlot Exam Pennystocks Standing Appointments Clause Arbitraiton Undisclosed Settlement ADA JPM Test Center Passcode BrokeAndbroker Inability to Pay RBC money laundering Mother IPO Finra Election Away Accounts Scottrade Immunity Rule 2210 Testimony Real Estate Robert Cook Annual Compliance Questionnaire AAA TCR Feigenbaum Spoliation Cannabis Statement of Corrective Action WB-APP Rule 13805 Waiver 6Cir Trade Secrets Written Supervisory Procedures 9/11 securities industry commentator State Actor E*Trade Rule 12504 Concentration Reg S-P Bandimere BrokeandBroker Extraordinary Cooperation Rule 9554 CEO Excessive Trading Sexist Affiliate Variable Annuities Michael King Biden Variable Annuity Hurry Sarbanes Oxley Form ADV brokeandbroker FINOP Compensation Imposter Michael King Associates Tortious Interference Solicited Irreparable Harm Restitution Johnny Burris Newman Superior Court FMLA Unsolicited DMD NRF Wachovia Facebook Star Wars Series 7 Medical Condition BrokeAndBroker Bill Singer FINRA Small Firm Rule 12212 Termination Fidelity Hester Peirce DDC Churning Conflict of Interest EDNY Ethereum Administrative Remedies Circuit Court Taxes Confidentiality Trading Platform Customer Information Non-Solicitation Subpoena Default Motion to Compel Sharemaster Financial Professionals Coalition Beneficiaries Research Sexual Discrimination ICO Talman Harris High Frequency Trading Pennystock Self Reporting Constitution Continuing Education Life Insurance Scottsdale 10b-5 Customers McDuff Self Directed PAQ Kon Social Media Marines Vietnam Marine Corps Honorarium Whitman Relevant Disciplinary History Consent Order Ride the Thunder Employment Agreement VIX IM Mutual Fund Service Hugh Hewitt Funds Rule 3030 Wanger Extraordinary Circumstances Stipulated Award Internet Rule 3310 Flash Crash Boycott Saad RMBS Hearing Sexual Harassment Government Accountability Project Information NSF SunTrust Cheating Check Kiting Guitron Obstruction RICO Lawyers Debit Card Wedbush Yesenia Guitron Testing ATM 5Cir Probate Respondeat Superior Privilege FNMA FINRA AWC Private Placement Dementia Scholander Interactive Brokers FOCUS Layering Nondisclosure Annual Audit Falsification 17a-5 Check JP Morgan Securities Guest Bloggers EEOC Lawyer Morgan Stanely Federal Reserve Chevron Son Revocation Capital Gains securities fraud Conflict SP Pension Prudential Oral Discretion Shah Gilani Slander Charity Penalty OWWP Hedge Fund Confirm Disciplinary History wire fraud Attorneys Fees WBAPP GameStop mail fraud Amazon Client Information Gamification Regulation SP Outside Counsel Fiduciary Duty Rory Flynn Acosta DCO Rule 1210 Blackbook Forex Executor Relevant Transamerica Liquidation NY Life Res Judicata Offset Puerto Rico Bonds Permanent Bar ARS Form TCR CDO SD FCI Rule 13504 Death Peirce ACH Joint Account Over Concentration WhatsApp Tesla FCI Beaumont FAP Zoom Texting Newport Coast Securities LLC Jennifer Tarr Obstruction of Justice Christian Stanley Rule 21F Arbitration Civil Rights Unauthorized Practice of Law Taft Correctional Institution Cold Spring Advisory Group Reverse Life Insurance Lehman Third Party Vendor Deferred Compensation Bear Stearns Oppenheimer Rule 13104 MSSB Elder Law 40 Act Withdrawals Rule 2430 Expert Witness Leveraged ETF Google OCIE Crime Embezzlement Control Person Non Solicit Securities America Libel Pruco Time And Price Commodities Fraud Verbal Discretion For Cause Book of Business First Amendment fraud NYG Capital Turnover EDPA bill singer Counterclaim Subject Matter Jurisdiction Tennis Court Mistake Trade Practices Oilpro Charge Rule 13904 Rule 12104 Calls Cantor Fitzgerald Allocation Compliance Questionnaire Trading Jay Clayton Retired Woman With Cane 10b-10 Constructive Discharge Rule 3210 Johnson Purshe Kaplan DAO Powell wrongful termination AWC. FINRA FINRA Arbitration Teleconference Finder\'s Fee Rule 12203 Hotel Jarkesy Nationwide ESOP Kierkegaard Motion Reason for Termination LIBOR AXA YouTube Administrative Process SDOH Non-Disclosure ESG CE Fernandez Trader Tax Advice Pham Panama Telephone Vungarala Cherry Picking Expulsion Lorenzo Nicolas Corcione Fundacion Nicor Ten Commandments Credit Cards SDCA Retroactive Bar Collateral Bar Municipal Advisor Fine Financial Disclosure Retroactive Pershing GME FNI Media sexism NRSRO DRS NFT Section 1332 Exception Reports Schottenstein Bartko FINRA Foundation Negligence Private Placements ALJ Grimes Third Party Beneficiary Transparency JOBS Act Last Known Address QuadrigaCX Mantar GAP Rule 21F-17 In House Counsel CD NYAG Communications Undertaking expenses Promoter SLUSA Accounting JAMS In Connection With Deceased Customer MAP reimbursement TSSB HSBC false statements AMC Rule 13206 Reg SHO DMCA Gross Ruder Task Force Confidential Audit Committee Sharing Agreement Books and Records Kiting Rule 144 VXX Corporate Governance Motion to Compel Arbitration Back Dated Equity ACT! Tysk Altered Apartment Particularity Declaratory Judgment Rule 13212 Lek Rule 13201 Ethics Court of Appeal Orders Daspin Rule 2140 APA Title VII Motion to Exclude Section 206 PSRO Joint Production Discharge Exception Report Salman Stephen A. Kohn Self Regulatory Organization Investment Advisers Act Kent Transitional Bonus UIT MSPB Ruemmler Production Bonus Burden of Proof Notice Alcoholism Jury Instructions Harris finra Confirmation NPI Sterne Agee ALJ Foelak NMS Covid-19 Shotgun Pleading Risk Romer Article V Motiion to Acquit Fraudulent Inducement Grievance LOA annuities Wires Crowdfunding Hacker Confidential Customer Information defamation Rule 12511 Bob Dylan Data Meals Office of Special Counsel Escrow Clearing Firm Bill singer Unauthorized Trades Stipulation Reasonable SIFMA S&P Microcap elderly Motion to Postpone Electronic Communications Fidelity Brokerage Services Public Arbitrator Dostoevsky Bezos Municipal Bonds Berthel Fisher ETFs Expert EDVA FOREX Currency CNBC Income Capitalism No Show Series 79 Guardian Punitive Cryptocurrencies PN Exotic ETF Clayton Lexicon Reg D Ecuador Production Hayden Newbridge MDLA Daughter Witness Tampering JPMorgan Chase NYLIFE Non-Solicit Rule 420 Voya Principal Quasi Governmental Exemption Non Compete College Solomon Day Trading Disability Regulation Elon Musk Restaurant Private Actor Disparate Treatment Abstention AI Chief Compliance Officer Willfull Nietzsche Bequest Rule 2330 Rule 9216 Unregistered Fee Conflicts Rule 1031 Game of Thrones whistleblower Initials Perjury Investment Adviser Howey Harassment Vaccarelli Led Zeppelin Broke And Broker Judgments Traders Exhaustion Doctrine SIE Success Fee TradeStation ADR