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Posts Tagged ‘FINRA auction-rate securities scandal’

FINRA Board to Address Allegations of Schapiro Misconduct

Posted by Larry Doyle on February 4th, 2010 11:40 AM |

Are the wagons circling around Mary Schapiro and her former FINRA colleagues?

Regular readers of Sense on Cents are familiar with the issues and concerns I have raised repeatedly with Wall Street’s self-regulator, FINRA. I continue to believe the issues embedded within this self-regulatory organization lie near the heart of what I deem the Wall Street-Washington nexus.

Perhaps America will learn more about these issues soon. Why? Next week, FINRA’s Board of Directors will address alleged wrongdoings by Ms. Schapiro et al. What are the issues?   (more…)

FINRA and ARS: Pot Calling Kettle Black

Posted by Larry Doyle on January 25th, 2010 2:34 PM |

Thanks to a loyal Sense on Cents supporter for sharing the most recent copy of Compliance Reporter, a publication of Institutional Investor, Inc.. The lead article this week,  FINRA Readies Slug of Enforcement Cases, addresses the fact that FINRA:

is targeting a slew of enforcement actions across a range of areas, including reverse convertibles and auction-rate securities.

Oh boy, here we go again. FINRA talking tough about auction-rate securities. Additionally, FINRA further flexes its muscle by:

warning firms that strained layoffs and resources are no excuse to delay responses to FINRA’s request for document production requests.

This self-regulatory organization has truly got some set of balls talking about delayed responses to requests for documents and information. (more…)






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