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BrokeAndBroker.com Blog by Bill Singer Esq WEEK IN REVIEW

July 4, 2020

http://www.brokeandbroker.com/5305/aegis-frumento-insecurities-freedom/
Guest Blogger Aegis Frumento Esq observes that freedom's gotten a lot of use during these troubled times. Some have asserted their freedom from lock-down orders by intimidating the public with open-carry assault weapons. Many others asserted their freedom of speech and assembly by making fools of themselves in public. On the other hand, many have used their freedom to sew masks, donate food, and break the peace by applauding health care workers at 7pm. And many, many have used their freedom to march for justice and responsible policing. 

http://www.brokeandbroker.com/5304/liviz-finra-etrade/
FINRA Rule 4210 requires the imposition of a $25,000 Pattern Day Trading minimum account margin equity. One investors alleged that E*Trade enforced FINRA's rule to his legal detriment by refusing to allow him to initiate trading after only a $1,000 deposit. There's a lot of nuance to this lawsuit. And I mean a lot.

http://www.brokeandbroker.com/5303/finra-felony-awc-willfulness/
In a recent FINRA regulatory settlement, a Respondent had failed to timely disclose four felony charges. FINRA sets out a compelling case, which seemed destined to settle with a finding that the Respondent had engaged in willful non-disclosure that would expose her to a statutory disqualification. Surprisingly, there is no such allegation and no such finding. That was a wonderful resolution for the Respondent. Many associated persons with the same fact pattern would likely have been charged with willful non-disclosure and deemed statutorily disqualified. Why didn't FINRA settle this case on that basis? Ahhh . . . that's today's puzzle.

http://www.brokeandbroker.com/5295/costco-sheet-cakes-cfpb/
So, sure, this year, I was all set for the trade-off. I was prepared for the Great American Sacrifice: a half gallon of Tito's Vodka, home-grilled franks on rolls with mustard and sauerkraut, and my personal slab of a Costco half-sheet of cake. Eaten inside. Windows pulled shut. Shades drawn. Handled with surgical gloves. Pushed into my face over a lowered mask. And now, thanks to Costco, the Supreme Court, and the unconstitutional CFPB, even that lousy bit of fun is ruined because pinko, socialist, left wing, Antifa-lovin' progressives are forcing all Americans to eat round cake. 

http://www.brokeandbroker.com/5294/seila-law-cfpb-supreme-court/
Supreme Court vacates 9Cir finding and remands based upon finding that the CFPB's independent, single-Director structure is unconstitutional, and the Director's five-year term and receipt of funds outside the appropriations process heighten the concern that the agency will "slip from the Executive's control, and thus from that of the people." READ FULL TEXT OPINION

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