Archive for the ‘FINRA’ Category
Posted by Larry Doyle on April 8th, 2013 8:21 AM |
While taking a brief respite from writing last week, I was struck by a number of stories worthy of real attention. Some of these items have received a fair bit of focus, while others may have passed largely unnoticed.
I will reference these stories now and will certainly come back to many, if not all, of them in the near future. The items include:
1. In what might only be compared to trying to turn around the Titanic on one of your local streets, the Bank of Japan is launching a “quantitative easing on steroids” program. The goal of “all this juice” is to generate a 2% rate of inflation in the next two years from what has been a two-decade deflationary cycle. (more…)
Tags: bank of Japan program to promote inflation, Bank of Japan quantitative easing, Bill Cohan commentary on bank regulators, black swan, decline in the labor participation rate, deflation in Japan, disability claims, Japanese economy in deflation, Japanese equity markets, Joe Sciddurlo FINRA whistleblower, Joe Sciddurlo lawsuit against FINRA, Joe Sciddurlo questions authority at FINRA, lawsuit against FINRA, Nassim Taleb comment on Mary Schapiro, permanent underclass in America, quantitative easing on steroids, rural poverty, support for asset markets, urban graduation, yen carry trade
Posted in Banking Institutions, Economy, Education, Employment, FINRA, General, Mary Schapiro | 5 Comments »
Posted by Larry Doyle on February 25th, 2013 9:27 AM |
Last summer I tagged Wall Street’s industry funded police at FINRA as being little more than meter maids. With a recent review of FINRA’s largest fine imposed in its history, I now realize that I have actually done a serious disservice to those diligent and hard working meter maids patrolling our cities and towns. How so?
Let’s navigate and look more deeply into FINRA’s $12 million fine imposed on those paragons of virtue who ran Union Bank of Switzerland’s equity operations.
What did UBS do to deserve FINRA’s “largest” fine? (more…)
Tags: FINRA and Reg SHO, FINRA fine of UBS for naked short selling, FINRA meter maids, FINRA's largest fines, how does naked short selling work, how widespread was naked short selling, integrity of the marketplace, naked short selling, Securities Technology Monitor, UBS equity operations, UBS naked short selling, UBS violation of Reg SHO, Union Bank of Switzerland, what is Reg SHO
Posted in FINRA, General, naked short selling, UBS, Wall Street Washington Incest | 3 Comments »
Posted by Larry Doyle on December 4th, 2012 9:46 AM |
I have tarred and feathered Jon Corzine sufficiently over the course of the last year for the debacle that unfolded on his watch at MF Global.
On that note, I welcome reading this morning that some tar and feathers are being applied to others who should have been in a position to stop the excessive leverage which brought down the MF Global house.
Who were these other individuals and entities? Let’s navigate as The Hill addresses a topic which many in Washington and on Wall Street would like to keep conveniently under the rug. (more…)
Tags: Capuano MF Global, downfall of MF Global, FINRA also to blame for MF Global, House Democrats report on MF Global, MF Global board, MF Global board failed, MF Global lied to FINRA, the demise of MF Global
Posted in FINRA, General, Jon Corzine, MF Global | 9 Comments »
Posted by Larry Doyle on October 3rd, 2012 9:05 AM |
Despite a wealth of political bluster that Wall Street has been reformed, we awake this morning to see that very little has really changed on this front. Financial regulatory reform? Not today, folks.
The simple fact is when it comes to Wall Street regulation, investors, consumers, and the American public at large are being fed the same helping of dog$hit.
We need look no further than a meeting held just yesterday of industry executives and securities regulators to see exactly this. (more…)
Tags: Dodd-Frank, Dodd-Frank financial regulatory reform, financial self-regulation, FINRA, FINRA meter maids, Joe Saluzzi, Market Complexity Cited in Snafus, Sal Arnuk, self-regulation on Wall Street, Themis Trading, Wall Street regulation, Wall Street regulatory reform
Posted in FINRA, General | 7 Comments »
Posted by Larry Doyle on September 19th, 2012 4:31 AM |
Reports circulating that Mary Schapiro will step down from her post at the SEC pending an Obama re-election are increasing. Unless Ms. Schapiro is relinquishing her throne in preemptive fashion I do not know why this story is even getting legs. It is certainly not uncommon for significant turnover within a President’s cabinet after the completion of a first term.
I sincerely hope that she is not in ill health but that concern is raised in a story in the New York Post, SEC You Later, Pal: Schapiro May Be Heading for The Exit,
Chatter surrounding Schapiro’s status at the regulatory agency has reached a crescendo in the past few days as an undisclosed medical procedure has resulted in her taking a leave of absence — set to end tomorrow.
An SEC official told The Post that Schapiro has been on medical leave since last Thursday and has been working from home as she recovers. (more…)
Tags: FINRA, is Mary Schapiro ill, pal New York Post, Richard Ketchum, SEC, SEC you later, Standard Chartered v FINRA, story floating about Mary Schapiro's departure, Wall Street-Washington incest, who will be the next head of the SEC, who will replace Mary Schapiro, will Mary Schapiro leave the SEC
Posted in FINRA, General, SEC | 1 Comment »
Posted by Larry Doyle on September 10th, 2012 9:09 PM |
Sense on Cents first crossed paths with current SEC chair and former FINRA head Mary Schapiro in mid-January 2009.
I have often thought Ms. Schapiro – more than any other single individual – knows where more of the bones are buried on Wall Street and throughout the incestuous Wall Street – Washington circle of influence and intrigue. I have tried to be fair but aggressive in questioning Mary’s lack of transparency on so many fronts.
Well readers, if reports circulating around Washington have a measure of truth to them, we will likely not have Mary to kick around all that much longer. (more…)
Tags: Mary Schapiro Amerivet Securities case, Mary Schapiro and ARS liquidation at FINRA, mary schapiro branded a liar by Richard Greenfield, Mary Schapiro career and legacy, Mary Schapiro career at SEC, mary Schapiro career at SEC and FINRA, Mary Schapiro Endgame, Mary Schapiro legacy, Mary Schapiro Luis Aguilar money market reform, mary Schapiro money market reform, mary Schapiro relationship with Bernie Madoff, mary Schapiro Standard Investment Chartered
Posted in FINRA, General, Mary Schapiro, SEC, Wall Street Washington Incest | 5 Comments »
Posted by Larry Doyle on August 2nd, 2012 9:09 AM |
Wall Street’s self-regulator FINRA just celebrated its 5 year anniversary. Congratulations to them. Sympathies and condolences to the rest of us.
The Securities Technology Monitor highlights FINRA’s birthday with a grandiose slideshow presentation entitled, The First Five Years; FINRA’s Top 25 Enforcement Cases. While those at FINRA might be celebrating the anniversary with cookies, cupcakes, and lemonade, let’s take a more critical review of Wall Street’s industry-funded private police detail. (more…)
Tags: FINRA, FINRA 5 year anniversary, FINRA actions to regulate Wall Street, FINRA conflicts of interest, FINRA failures, FINRA fines, FINRA history, FINRA meter maids, FINRA naked short selling, FINRA top 25 fines, FINRA total actions taken, FINRA track record, meter maids at FINRA, Securities Technology Monitor, Securities Technology Monitor article on FINRA, self regulation charade, self-regulation on Wall Street
Posted in FINRA, General | 12 Comments »
Posted by Larry Doyle on June 20th, 2012 6:47 AM |
What are some of the great failures and subsequent lessons America has learned about Wall Street since the outset of our economic crisis 5 years ago?
Well, we have witnessed more failures and learned more lessons than I have space here to highlight. The failures and lessons actually go back a lot further than this crisis.
Regrettably, the industry titans running Wall Street and their crony capitalist partners lining their pockets in Washington have shown little to no inclination to address what Sense on Cents believes are the greatest failures and lessons.
Dodd-Frank? Nope, that doesn’t do it. Consumer Financial Protection Bureau, perhaps? Nope, not there either. See, the fix is still in on Wall Street and far too many in America are not aware of the regulatory sting being perpetrated on investors each and every day. (more…)
Tags: Ethics Rules and FINRA, failures on Wall Street, Financial Industry Regulatory Authority, FINRA, Freedom of Information Act and FINRA, how is Wall Street regulated, how to reach your Congressman, HR 4624, Investment Advisory Oversight Act, lack of transparency on Wall Street, POGO Michael Smallberg, reasons not to trust Wall Street, Wall Street regulation
Posted in FINRA, General | 13 Comments »
Posted by Larry Doyle on May 3rd, 2012 7:29 AM |
The financial regulatory landscape is poised to change and, as far as I am concerned, not necessarily for the better.
Will you be merely a spectator or do you care to participate in the legislative process that WILL impact most of you? Are you an investment adviser? Are you an investor with funds managed by an investment adviser?
If you fall into either of those camps, I exhort you to get involved. I encourage you to become part of the process and the solution and not merely a bystander. How so? Let’s navigate. (more…)
Tags: Committee Chairman Spencer Bachus, concerns about FINRA, David Tittsworth IAA, financial regulation, FINRA, FINRA kangaroo court, FINRA oversight of RIAs, get involved, House Financial Services Committee, how does FINRA lose 8 hours worth of testimony, HR 4624, investing in America, Investment Adviser Association, Investment Adviser Oversight Act of 2012, Larry Doyle, Mark Mensack, Mark Mensack case, oversight of RIAs, regulation of RIAs, Sense on Cents, Spencer Bachus, Wall Street arbitration
Posted in FINRA, General | 4 Comments »
Posted by Larry Doyle on March 13th, 2012 11:03 AM |
I will admit that having written extensively and aggressively about Wall Street’s self-regulator FINRA over the last three years, I did not think there was anything more I could see that would surprise me.
Today I am surprised, shocked, and saddened.
For those in our nation who have a semblance of decency and a desire to see due process reflected in legal hearings and financial arbitration, I believe you will be similarly dismayed.
The case to which I will refer strikes deep into the core of Wall Street arbitration. (more…)
Tags: 401-K fees, Broker Bankrupted by Kangaroo Court, financial regulatory reform, FINRA arbitration, FINRA Katherine Bayer, FINRA panel, how does Wall Street arbitration work, Mark Mensack, Mark Mensack Morgan Stanley, Mark Mensack whistleblower, Morgan Stanley 401-K business, regulatory capture on Wall Street, Wall Street arbitration, Wall Street whistleblower, Wall Street-Washington incest, who is Mark Mensack
Posted in FINRA, General, Wall Street Washington Incest | 20 Comments »
RSS Feed
Twitter
Facebook
Email
Home
What are some of the great failures and subsequent lessons America has learned about Wall Street since the outset of our economic crisis 5 years ago?
Stories Deserving More Attention: Did You See This?
Posted by Larry Doyle on April 8th, 2013 8:21 AM |
I will reference these stories now and will certainly come back to many, if not all, of them in the near future. The items include:
1. In what might only be compared to trying to turn around the Titanic on one of your local streets, the Bank of Japan is launching a “quantitative easing on steroids” program. The goal of “all this juice” is to generate a 2% rate of inflation in the next two years from what has been a two-decade deflationary cycle. (more…)
Tags: bank of Japan program to promote inflation, Bank of Japan quantitative easing, Bill Cohan commentary on bank regulators, black swan, decline in the labor participation rate, deflation in Japan, disability claims, Japanese economy in deflation, Japanese equity markets, Joe Sciddurlo FINRA whistleblower, Joe Sciddurlo lawsuit against FINRA, Joe Sciddurlo questions authority at FINRA, lawsuit against FINRA, Nassim Taleb comment on Mary Schapiro, permanent underclass in America, quantitative easing on steroids, rural poverty, support for asset markets, urban graduation, yen carry trade
Posted in Banking Institutions, Economy, Education, Employment, FINRA, General, Mary Schapiro | 5 Comments »