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BrokeAndBroker.com Blog by Bill Singer Esq WEEK IN REVIEW

April 11, 2020

It's times like these, you learn to live again . . .



http://www.brokeandbroker.com/5161/martinovich-appeal/
About a decade ago in 2011, FINRA barred Jeffrey A. Martinovich. And then Martinovich was indicted in 2012 and convicted in 2013 by a federal jury. And then, in another federal case, he was indicted in 2015, and he pled guilty 2016. So, why are we writing about Martinovich in 2020? That's a great question. Not sure there's such a great answer.

http://www.brokeandbroker.com/5160/aegis-frumento-insecurities-handshake/
Wall Street lawyer Aegis Frumento shakes hands with the "new normal" of this COVID-19 world -- on second thought, that's probably the last thing he's going to do. Frumento notes that the pandemic is forcing us to re-think how we greet each other, and he explores many alternatives to pressing palms and transferring the killer virus. 

(BrokeAndBroker.com Blog)
http://www.brokeandbroker.com/5159/SEC-Unauthorized-Trading/
In a Complaint filed in the United States District Court for the Eastern District of New York, the SEC charged Jonah Engler, Joshua W. Turney and Hector Perez with antifraud violations, and also charged Barbara Desiderio with aiding and abetting Engler's, Turney's and Perez's violations. Hmmm . . . why do some of those names seem familiar?

http://www.brokeandbroker.com/5158/Newport-Coast-FINRA/
FINRA member firm Newport Coast Securities, Inc. was charged in part with failing to reasonably supervise. After an Office of Hearing Officers Extended Hearing, the Panel's finding was harsh: The firm, through its management, had utterly failed to properly supervise. Not just failed but utterly so. Armed with that finding, the Panel expelled the firm. On appeal to the SEC, the firm (now out of business) argued that FINRA's expulsion was punitive, inappropriately disproportionate treatment, and constituted an undue burden on competition. The SEC would have none of it and affirmed the expulsion.

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