An irreverent Wall Street Blog
BrokeAndBroker.com Blog by Bill Singer Esq WEEK IN REVIEW
March 18, 2023
https://www.brokeandbroker.com/6926/sec-lunacy-rulemaking/
A form of lunacy has overtaken the Securities and Exchange Commission. Those in charge seem to have lost any concept of how to rationally manage a finite amount of resources -- both human and otherwise. Unwilling or incapable of stopping, the SEC continues its excessive resort to rulemaking and rule-amending.
https://www.brokeandbroker.com/6928/finra-transamerica-awc/
There is none so blind as those who will not see; and on Wall Street, the industry's regulators are blinded by their refusal to see the disparity between their sanctioning of associated persons versus larger firms. Suspending or barring a stockbroker/advisor is as powerful an arrow as there is in the regulatory quiver. In contrast, conglomerates tend to get fined, and those dollars are more likely paid by public shareholders. No, I am not arguing for lesser sanctions for the industry's human beings, but I sure as hell am asking why large corporations get off so much lighter? Why aren't we closing down Wall Street's entities for the same durations and with the same frequency as we place its employees in the penalty box?