Sense on Cents

Did the Wall Street regulator FINRA have funds from its own internal investment portfolio invested directly or indirectly in Bernie Madoff’s Ponzi scheme? Did FINRA effectively front run the auction-rate securities market in 2007 when it liquidated a position of approximately $647 million ARS from that same internal portfolio?

Do you think investors and all Americans would like to know the answers and details to these questions and much more? Do you think we deserve to know these answers? You think?

After developments this week, we are that much closer to learning answers to these questions and potentially much more about Wall Street’s regulator FINRA. How so? Let’s navigate.

The donnybrook legal battle continues between Amerivet Securities of Moreno Valley, California and the Wall Street self-regulatory organization FINRA. For those keeping score, the latest round this week was a decided victory for Amerivet. Why do I believe this specific case and the allegations made by Amerivet are so important?   (more…)