Browsing Category "Securities Regulation"

SEC files insider trading charges involving Post-it note eating.

SEC files insider trading charges involving Post-it note eating.

Posted by on Mar 19, 2014 in Fraud, Securities Regulation

OK, here’s a tip.  If you feel compelled to eat Post-it notes or napkins because you don’t want someone to know what you’re doing, your conduct is probably bad.  Apparently, the “middleman” in this insider trading scheme didn’t see anything […]

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Microcap fraudster stopped by SEC

Microcap fraudster stopped by SEC

Posted by on Mar 18, 2014 in Marc's Blog, securities, Securities Regulation

Are people really this stupid?  Really.  Are they this stupid?  This removes my faith in humanity. A guy holds a large position in a thinly traded penny stock.  He uses nominees offshore to do it.  He then sends an email […]

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Welcome to the party, Ken Abbas (real name Kumail Abbas) from C.K. Cooper & Co., Inc.

Welcome to the party, Ken Abbas (real name Kumail Abbas) from C.K. Cooper & Co., Inc.

Posted by on Jun 27, 2013 in securities, Securities Regulation, Stockbroker issues

Dear Ken Abbas – As promised, I am mentioning your name in my blog. Unlike you, I like to tell people the truth. You see, you told me that we spoke in October of last year. We never spoke and […]

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Being a broker means that you can say “I am Sorry” – Dow Jones Video

Being a broker means that you can say “I am Sorry” – Dow Jones Video

Posted by on Oct 31, 2012 in Investment Advisors, Securities Regulation, Stockbroker issues

I was quoted in a recent article on Dow Jones Wealth Adviser about whether or not a broker should apologize. My answer, just like one might expect from a lawyer, “It depends.” If you’re sorry you’re late returning a call, […]

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FINRA sanctions brokerage firm for taking too much customer information.

FINRA sanctions brokerage firm for taking too much customer information.

Posted by on Jun 21, 2012 in FINRA, Investment Advisors, Marc's Blog, Securities Regulation, Stockbroker issues

There is now apparently a difference between taking customer information and taking too much customer information. Since I joined the securities business in 1983, brokers have moved from one firm to another with varying levels of difficulty and information. In […]

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SIFMA Compliance & Legal Society Annual Conference Starts Tonight

SIFMA Compliance & Legal Society Annual Conference Starts Tonight

Posted by on Mar 18, 2012 in securities, Securities Regulation, Stockbroker issues

I haven’t been to it in four years. Not much has changed, other than somehow we have all gotten older. I am going to try something new, tweeting from the conference. You can follow me here. I am hoping it […]

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Broker loses appeal of FINRA fine and suspension for U-4 non-disclosure

Broker loses appeal of FINRA fine and suspension for U-4 non-disclosure

Posted by on Feb 24, 2012 in Securities Regulation, Stockbroker issues

Unfortunately, many brokers treat the form U-4 as a necessary evil. Many view it as a form that stands between them and registration. Of course, the regulators view the form as an opportunity to examine a broker’s background. And the […]

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Auction Rate Securities Expungements Discussed in Registered Representative

Auction Rate Securities Expungements Discussed in Registered Representative

Posted by on Dec 13, 2011 in Securities Regulation, Stockbroker issues

It’s interesting how the securities business goes in cycles. Over 20 years ago, my former employer Prudential Securities (now Wells Fargo Advisors) had problems with limited partnerships. At the time, the Prudential Securities name became synonymous with limited partnership sales, […]

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Florida’s rule disqualifies stockbrokers with old offenses.

Florida’s rule disqualifies stockbrokers with old offenses.

Posted by on Sep 20, 2011 in securities, Securities Regulation, Stockbroker issues

In May of last year, the State of Florida amended its registration rules regarding the criminal histories of stockbroker applicants. The amendment assigns year values for specified crimes. Those year values then disqualify an applicant according to its terms. For […]

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Securities America wants it both ways with Federal injunction strategy.

Securities America wants it both ways with Federal injunction strategy.

Posted by on Mar 16, 2011 in arbitration, securities, Securities Regulation, Stockbroker issues

I am outraged. It’s no secret that I’m not a big fan of Securities America, the hapless offspring of American Express Financial Services (now Ameriprise). In fact, I’m kind of embarrassed that I own Ameriprise stock, if for the only […]

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