Comments on: Barrons, New York Times, and Sense on Cents All Request Transparency From FINRA http://www.senseoncents.com/2009/10/barrons-new-york-times-and-sense-on-cents-all-request-transparency-from-finra/ Navigating the Economic Landscape Fri, 12 Mar 2010 22:57:48 -0500 http://wordpress.org/?v=2.9.2 hourly 1 By: Ronnie Sue Ambrosino http://www.senseoncents.com/2009/10/barrons-new-york-times-and-sense-on-cents-all-request-transparency-from-finra/comment-page-1/#comment-6524 Ronnie Sue Ambrosino Sat, 24 Oct 2009 20:59:20 +0000 http://www.senseoncents.com/?p=12082#comment-6524 Larry, You've done a fantastic job of keeping the need for transparency alive. I commend you and can only hope that we begin to see a shift towards not only transparency but also responsibility and accountability. Perhaps as a result of the requests by you, Barrons, the NYT and the Madoff Coalition for Investor Protection we'll find whether FINRA, as it's been alleged, did indeed invest with Bernard Madoff while it was supposed to have been overseeing his business. For your information, I'm copying the letter that was sent by the Coalition to Grant Callery, VP and General Counsel for FINRA requesting an accounting of its investment portfolio. To date, I have received no response from Mr. Callery or FINRA. <blockquote>Dear Mr. Callery, On behalf of all those connected with the Madoff Victims Coalition as well as all investors with BMIS, I sincerely hope that you can help provide information that will help our cause for full and total restitution. We are working diligently to cover every angle in this travesty. While we acknowledge efforts of regulators since December 11, 2008, we remain concerned about the regulatory failings prior to that date. Many media outlets have highlighted the connections that Bernie Madoff and certain family members had with FINRA and its parent organizations. These media outlets, though, have not highlighted the fact that FINRA had an internal investment portfolio which had significant investments across common equities, fixed income (including Auction-Rate Securities), hedge funds, fund of funds, and private equity. Given the regulatory position of FINRA, its historical connections with the Madoff family, and the presence of the FINRA investment portfolio, we request that FINRA release all information on transactions within that portfolio over the last number of years. In fact, we would hope and believe that FINRA itself should feel obliged to release this information in the spirit of promoting transparency and integrity in this process. I thank you in advance for your consideration and prompt attention to this request. I look forward to your response. Sincerely, Ronnie Sue Ambrosino Coordinator Bernard Madoff Victims Coalition</blockquote> Larry,

You’ve done a fantastic job of keeping the need for transparency alive. I commend you and can only hope that we begin to see a shift towards not only transparency but also responsibility and accountability.

Perhaps as a result of the requests by you, Barrons, the NYT and the Madoff Coalition for Investor Protection we’ll find whether FINRA, as it’s been alleged, did indeed invest with Bernard Madoff while it was supposed to have been overseeing his business.

For your information, I’m copying the letter that was sent by the Coalition to Grant Callery, VP and General Counsel for FINRA requesting an accounting of its investment portfolio. To date, I have received no response from Mr. Callery or FINRA.

Dear Mr. Callery,

On behalf of all those connected with the Madoff Victims Coalition as well as all investors with BMIS, I sincerely hope that you can help provide information that will help our cause for full and total restitution.

We are working diligently to cover every angle in this travesty. While we acknowledge efforts of regulators since December 11, 2008, we remain concerned about the regulatory failings prior to that date.

Many media outlets have highlighted the connections that Bernie Madoff and certain family members had with FINRA and its parent organizations. These media outlets, though, have not highlighted the fact that FINRA had an internal investment portfolio which had significant investments across common equities, fixed income (including Auction-Rate Securities), hedge funds, fund of funds, and private equity.

Given the regulatory position of FINRA, its historical connections with the Madoff family, and the presence of the FINRA investment portfolio, we request that FINRA release all information on transactions within that portfolio over the last number of years. In fact, we would hope and believe that FINRA itself should feel obliged to release this information in the spirit of promoting transparency and integrity in this process.

I thank you in advance for your consideration and prompt attention to this request. I look forward to your response.

Sincerely,

Ronnie Sue Ambrosino
Coordinator
Bernard Madoff Victims Coalition

]]> By: whoisjohngalt http://www.senseoncents.com/2009/10/barrons-new-york-times-and-sense-on-cents-all-request-transparency-from-finra/comment-page-1/#comment-6494 whoisjohngalt Sat, 24 Oct 2009 00:20:12 +0000 http://www.senseoncents.com/?p=12082#comment-6494 There is no safe harbor in this storm. It is a crooked game everywhere you look. There is no safe harbor in this storm. It is a crooked game everywhere you look.

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