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Posts Tagged ‘SEC FOIA’

Can Congress Read? Does It Open Mail Re: FINRA?

Posted by Larry Doyle on June 29th, 2011 1:59 PM |

Do those in Congress know how to read? Do they open their mail?

News is leaking that Congress may be inclined to have Wall Street’s self-regulator, FINRA, gain oversight of the investment advisory industry. That industry is currently regulated by the SEC and operates under a fiduciary standard.

The industry is fighting tooth and nail NOT to be regulated by FINRA which regulates broker-dealers under the less stringent suitability standard.

While the investment advisory industry and FINRA are duking it out, let’s return to my initial questions. Do those in Congress know how to read? Do they open their mail? Why do I ask?  (more…)

POGO: “Reports the SEC Doesn’t Want You to See”

Posted by Larry Doyle on January 24th, 2011 10:52 PM |

The Project on Government Oversight has become the financial regulatory eyes and ears for our nation. While one would think Congress might care to thoroughly investigate government agencies and hold them to account, our recent history has shown us that the Congressional oversight is severely lacking. Enter POGO. What has POGO provided us now?

By utilizing the Freedom of Information Act, POGO has provided a huge window of transparency into the SEC. Why should POGO have to perform these acts? Where is the Congressional oversight? Heck, where is the SEC chair Mary Schapiro?

I strongly encourage readers to save this commentary as POGO provides links to a wealth of amazing stories and investigations. THANK YOU POGO for performing a national public service in opening the windows into the SEC. (more…)

Helen Davis Chaitman Plans to Sue the SEC

Posted by Larry Doyle on August 1st, 2010 11:41 AM |

Does the SEC believe it needs to restrict the public’s access to information in order to gain the favor of those from whom it is requesting the information in the first place (that is banks, hedge funds, and money managers)? Is ‘looking toward the future’ a convenient line of reasoning when, in fact, the SEC is actually more concerned with skeletons from its past? Which skeletons might these be? Can you say Bernie Madoff and Allen Stanford? Is America supposed to take the SEC’s own internal reviews of these frauds as sufficient explanation as to the SEC’s failures on these frauds?

While many in the financial industry have little interest in ever again hearing the name Bernie Madoff, one individual in our nation continues the fight for justice from this massive fraud. To whom do I refer? Helen Davis Chaitman of Becker & Poliakoff.

Some may recall that last November I interviewed Ms. Chaitman, pro bono legal representative for a large number of Madoff investors. She provided riveting insights then and she did not disappoint on a recent interview on Fox Business. Helen is not bashful in highlighting that she plans on suing the SEC for its failings in the Madoff scam.

Is the SEC looking to restrict access to information because of Helen’s pending lawsuit? Let’s listen . . .

Helen is not only speaking up on behalf of Madoff investors, but she is truly standing up on behalf of all American investors. I commend her. No surprize that Helen is a decorated member of the Sense on Cents Hall of Fame! 


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