An irreverent Wall Street Blog
BrokeAndBroker.com Blog by Bill Singer Esq WEEK IN REVIEW
November 14, 2020
(BrokeAndBroker.com Blog)
http://www.brokeandbroker.com/5535/sec-whistleblower-outed/
Psst . . . do ya wanna know a secret? Okay but you gotta promise not to tell. There's this guy who says that he blew the whistle on a bank and he says that he's entitled to a share of something like $50 million. We're not supposed to know the Claimant's or the bank's name. It's the law. On the other hand, somehow, I happen to know his name and that of the bank. How? Well, that's one helluva a story. Read on.
Federal Court Dismisses Challenge to Six Year Old FINRA AWC (BrokeAndBroker.com Blog)
http://www.brokeandbroker.com/5533/cashmore-finra-awc-wdny/
Today's blog features a 2012 FINRA AWC. No, that's not a typo. Like I said, the regulatory settlement was executed in 2012. The sanctions imposed were a fine and one-month suspension. For whatever reasons, the Respondent had buyer's remorse. His anger with the AWC stewed and simmered in him until 2018, when he sued to have the settlement undone. The case raised a number of interesting and fascinating issues. See what you think.
The Saad Saga Returns to Federal Court (BrokeAndBroker.com Blog)
http://www.brokeandbroker.com/5532/saad-finra-sec-dccir/
This is a saga that starts in 2006 with alleged business expense misconduct; and then, from 2007 through 2020 moves -- or should we say slogs -- through an investigation, Complaint, hearings, appeals, remands, and appeals. In a bit of mathematical magic, we seem to have traveled twice around a circle only to find ourselves at the end of the beginning of the beginning of the end -- the amazing Mobius Strip of Wall Street Regulation.