Wall Street’s Dirty Little Secrets: Uncovered and Analyzed at RRBDLAW.com

Every month Wall Street’s regulators issue disciplinary decisions that fine and suspend stockbrokers and their firms --- but many of the more interesting stories get buried among the sheer volume of cases. Nationally-known regulatory lawyer Bill Singer analyzes the securities industry’s docket and provides insight and provocative commentary.

(PRWEB) February 4, 2005

Every month Wall Street’s regulators issue disciplinary decisions that fine and suspend stockbrokers and their firms --- but many of the more interesting stories get buried among the sheer volume of cases.

Nationally-known regulatory lawyer Bill Singer analyzes the securities industry’s docket and provides insight and provocative commentary.Here are some of the more unusual NASD items Bill uncovered this month:

A treasurer of a condominium association “misuses” the condo’s funds (Worden); An individual steals nearly $100,000 from a broker-dealer when he set up a bank account under the name of a fictitious vendor (Shaalan). Think this is an oddity? Look at another case in which another employee misused colleagues’ electronic ID to steal more than $20,000 from her firm (Parrott). Oh, and why you’re at it, read about the employee who charged personal expenses to his corporate credit card (Granik);

A BD’s president is sanctioned for spending the majority of his time working for an affiliated company and allowing his compliance officer to delegate responsibilities to unqualified individuals and tolerating insufficient staffing. (Sandifur);

Is there a point where you have too many stockbrokers to supervise? Read this case, and note that the supervisor agreed to testify against his former firm and employees as part of his settlement of the charges. (Olsen);

Then there are these two enterprising types. One forged her customer’s signature on a CD and redeemed it for her own use. (Chandler) The other had an ATM card issued for his customer but sort of forgot to get the client’s permission, and then withdrew nearly $3,000.(Boltz)

RRBDLAW.com is a leading securities-industry legal/regulatory website. The content is published by Bill Singer, a veteran Wall Street regulatory lawyer who represents both the industry and the public.

Contact Information:

Bill Singer

RRBDLAW.com

917-520-2836

http://www.rrbdlaw.com

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