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Keep Your Friends Close and Your Enemies Closer

Posted by Larry Doyle on August 19, 2009 7:15 AM |

The twists and turns while looking into FINRA keep getting more interesting.

While reviewing some FINRA material, I came across an invitation to a SIFMA (Securities Industry and Financial Markets Association) Breakfast in Los Angeles in August 2008.

For those interested in attending, please respond to . . . well, I won’t spoil it. Please read on:

Dear Industry Colleague,

On behalf of the SIFMA Compliance and Legal Division, I would like to invite you to our Los Angeles Topical Breakfast Seminar. Do not miss this opportunity to hear firsthand the examination agendas and findings of the SEC, FINRA and state regulators. This complimentary breakfast seminar will be hosted by Morgan Stanley. Sign up now, space is extremely limited.

When: Wednesday, August 13th, 2008
8:30 am – 10:30 am

Where: Morgan Stanley
335 North Maple Drive, Suite 150
Beverly Hills, CA 90210.

Michael G. Rufino
Senior Vice President, Member Regulation, Sales Practice Review
Financial Industry Regulatory Authority (FINRA)

Susan Axelrod
Senior Vice President, Office of Regulatory Operations
Financial Industry Regulatory Authority (FINRA)

David A. Greene
Director, District 2
Financial Industry Regulatory Authority (FINRA)
(Southern California that part of the state south or east of the counties of Monterey, San Benito, Fresno, and Inyo),
southern Nevada (that part of the state south or east of the counties of Esmeralda and Nye) and the former U.S. Trust Territories

If you are able to attend please RSVP to Shana Madoff at or call 212-230-2411. Space is limited so respond as soon as you can.

Shana Madoff
Executive Committee Member, SIFMA – Compliance & Legal Division

There is nothing here that is new news. That said, hearing how deeply ingrained the Madoff family was in the financial regulatory and trade organizatons is one thing, seeing it is quite another. Shana Madoff is Bernie’s niece.

No doubt that Bernie Madoff lived by the rule, “keep your friends close and your enemies closer.”


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