RRBDLaw.com: February FINRA Cases

No replies
Anonymous's picture


Wall Street’s Dirty Little Secrets
Uncovered and analyzed at http://RRBDLAW.com
And irreverently chided at http://BrokeAndBroker.com
February 29, 2008
Nationally-known securities-industry lawyer Bill Singer analyzes this month’s regulatory docket, and offers his provocative commentary. 
Walking Wounded?
Two brokers tell their firms that some clients are disabled.  Why?  Well, it’s one way to get lower sales charges. It’s also a way to get in trouble.  Still --- same violation results in a $20,000, requalification, and 2-year suspension for one respondent, but the other only draws a $1,000 fine and 4-month suspension.
Edward Martin VanGrouw, E9B2003026301/February 2008 and Harvey Mitchell Schwartz, E102004083703/February
Where’s It Say That?
FINRA cites a firm because it failed to report the "most egregious problem as alleged in customer complaints." Only problem is, there is no such rule requiring that disclosure.
Legend Merchant Group, Inc.
AWC/20060036818-01/February 2008
Broker Can Ya Spare a Dime?
Okay, so brokers are prohibited from borrowing money from customers, but bet you didn’t know that also can’t lend.
Daniel M. Myers
AWC/E9B2005014201/February 2008
Mortgaging Her Future
Employee overstated her salary, length of service, and title on an employment verification form she sent in connection with a home mortgage loan. 
Candice Elicia Hall
AWC/2007008809001/February 2008
Check Out
Read about the poor guy who gave his employer an NSF check and got suspended and fined for his efforts.
Gregory Gibala
AWC/2007008400401/February 2008
You’re Kidding Me—Right?
I can understand forging a signature, but cutting and pasting? 
Andrea Marie Selander
AWC/2007007771001/February 2008
Please visit Bill Singer's online resume at http://rrbdlaw.com/bios_singer.htmlHe can be contacted by phone at 917-520-2836by e-mail at rrbdlawyer@aol.comby fax at 720-559-2800.THIS COMMUNICATION MAY BE DEEMED AN ATTORNEY ADVERTISEMENT OR SOLICITATION IN SOME JURISDICTIONS. AS SUCH, PLEASE NOTE THAT THE HIRING OF AN ATTORNEY IS AN IMPORTANT DECISION THAT SHOULD NOT BE BASED SOLELY UPON ADVERTISEMENTS. MOREOVER, PRIOR RESULTS DO NOT GUARANTEE A SIMILAR OUTCOME.Visit the RRBDLAW website at http://rrbdlaw.comVisit the BrokeAndBroker blog at http://BrokeAndBroker.com

Please or Register to post comments.

Industry Newsletters
Investment Category Sponsor Links
Practice Management Category Sponsor Links

Sponsored Introduction Continue on to (or wait seconds) ×