Marc’s Blog

Merrill Lynch fined for late U5 filing

Merrill Lynch fined for late U5 filing

Posted by on Jan 21, 2015 in Fraud, Stockbroker issues

The U-5, the Uniform Termination Notice, is an important part of the information flow in the securities industry.  When a Registered Representative leaves a firm, a U-5 must be filed.  The firm has 30 days to do so.  Most firms […]

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Embezzling broker gets 51 months for his crimes.

Embezzling broker gets 51 months for his crimes.

Posted by on Jan 8, 2015 in Marc's Blog, securities, Stockbroker issues

OK, so it’s been a while.  What with Thanksgiving, Hannukah, Christmas, New Years and a family trip, I wasn’t that focused on sharing my thoughts with the world.  But today something struck me.  On Wall Street reported that a broker in Washington […]

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PIABA wants mandatory insurance.  It won’t work.

PIABA wants mandatory insurance. It won’t work.

Posted by on Nov 25, 2014 in Marc's Blog

Insurance is in the news.  Suzanne Barlyn writes in Reuters that our friends at PIABA want insurance to be mandatory.  Their solution to the unavailability of insurance? Don’t do the business.  My problem with this is that FINRA seems committed to […]

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Be on the lookout for fake IRS calls.

Be on the lookout for fake IRS calls.

Posted by on Nov 20, 2014 in Marc's Blog

For the second time in a week, I received a robocall claiming to be the IRS.  It was a computerized voice.  It wasn’t Stephen Hawking playing a joke on me, either.  I don’t know him.  But I guess he could […]

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Regulatory double standards gall me.

Regulatory double standards gall me.

Posted by on Nov 6, 2014 in Marc's Blog

I represent brokers in regulatory matters.  It always amazes me at the lengths to which a regulator might go to get a result that could be spun in their favor.  I have also dealt with reasonable regulators who take all […]

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