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FINRA Lawyer Blog

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FINRA DISCIPLINARY ACTIONS – JUNE 2012 UPDATE

FINRA issued its summary of disciplinary actions reported for June 2012. Certain actions are noteworthy and are indicative of regulatory trends effecting broker-dealers and registered representatives. Herskovits PLLC comments on the following regulatory actions: Net Cap Violations Freedom Investors Corp. (CRD #23714, Brookfield, Wisconsin), Joel ReidBlumenschein (CRD #1372334, Registered Principal,…

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Regulators probe bank’s role in Facebook IPO

Regulators are examining whether Morgan Stanley, the investment bank that shepherded Facebook through its highly publicized stock offering last week, selectively informed clients of an analyst’s negative report about the company before the stock started trading. Rick Ketchum, the head of the Financial Industry Regulatory Authority, the self-policing body for…

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NY top court weighs claim from investment

French investors urged New York’s top court on Wednesday to reinstate their lawsuit over losing $43 million out of $50 million they put into two structured investment vehicles. The investors claim Barclays Bank, Standard & Poor’s and two management companies were complicit in leaving investors with plummeting securities shortly before…

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