At first blush, this looked interesting. However, after reading the entire Panel Decision, I’m no longer blushing. Frankly, about the only reaction that I can summon up is: “What the hell was that all about?”
Mike Koehler discusses the recent release by the OECD of “the most comprehensive guidance ever provided to companies and business organizations by an international organization” on internal controls, ethics and compliance programs to combat bribery.
According to press reports, ‘Anthony Digati’ had invested about $50,000 into a variable life insurance policy sold by New York Life. Apparently, unhappy about not getting a nearly quadruple return on his investment, he opted for extortion.
Bill Singer responds to the recent statements by Harry Markopolos that the SEC is “overlawyered”.
In July 2004, public customer Jay Lombard purchased in his retirement account at GunnAllen Financial, Inc., one Unit of Florida Capital Apartments 2004, Ltd., which was sold to Lombard as an Accredited Investor through a private placement. And that folks, is about the last intelligible thing that I can say about this oddball case.
PIPE transactions continue to be a troubled and troubling vehicle for financing. The SEC recently filed suit against Gary Gross alleging that he defrauded several customers and caused more than $2.7 million in losses.
This is a saga but not a great one. Frankly, not even a modest one. Come to think of it, as sagas go, this is more like a shaggy-dog story that starts with much promise only to fritter away into so much fluff and meaningless detail.
Nearly three years after the SEC’s approval of the merger of the NASD and the NYSE into the Financial Industry Regulatory Authority, Inc. (FINRA), the rule consolidation process continues to plod along. Bill Singer provides his analysis of the new FINRA borrowing and lending rules.
Bill Singer’s lastest post from BrokeAndBroker.com discusses the recent FINRA arbitration hearing between Steven Beach and Bentley-Lawrence Securities, Inc.
http://www.rrbdlaw.com/enforcement-actions/index.php?cid=1
Bill Singers
irreverent analyses of FINRAs monthly disciplinary reports is now
online. February was quite a crop! For example, consider this biting commentary:
Rogelio A. Villa Jr.
AWC/2009019029…
