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Posts Tagged ‘Barrons New York Times Sense on Cents and Bloomberg call on FINRA to release unredacted documents’

Bloomberg Joins Ranks Calling for FINRA Transparency

Posted by Larry Doyle on November 9th, 2009 12:26 PM |

Calls for increased transparency from Wall Street’s self-regulatory organization FINRA continue to mount. How so?

None other than Bloomberg joins the ranks of Barrons, The New York Times, and Sense on Cents in calling on the courts to compel FINRA to release unredacted documents relating to the merger of the NASD with NYSE Regulation. That merger formed FINRA.

As I have highlighted previously, the core of a complaint filed on behalf of Standard Investment Chartered alleges that FINRA and assorted defendants, including current SEC head Mary Schapiro, misrepresented orally and in writing the financial terms involved in this merger. More specifically, the complaint alleges that FINRA and defendants lied in their representation of what the IRS would allow in terms of financial remuneration to FINRA member firms. (more…)






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