The Blog Of The Securities Industry Professional Association

Archive for the ‘Compliance Corner’

Know when to hold ‘em, Know when to fold “em

Risk vs Reward when dealing with FINRA   We have seen yet another increase in the ‘Death Penalty” being issued by FINRA to firms across the county for a variety of reasons ranging from failure to supervise to failure to do anything.  How did we get to this point whereby almost all actions appear to […]
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Capital for Keeps

Recently SIPA member and former SEC attorney Russel Weigel took some time out of his life to write a book that should be on the desk of every broker trying to navigate the complex world of capital raising. We have specials on the book just for SIPA members.   Click on the link below to […]
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Some where along the way the unions went from protecting workers to intimidating them as well as our Government. I never really understood this phenomenon. GM, Ford and Chrysler have had strong unions for years and years and it afforded workers solidarity and negotiating power. That was until a guy with a high school education started making $80,000 per year to run a bolt through some sheet metal.
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The decision by the Trustee is puzzling on so many levels I almost do not know where to begin so In keeping with my theme from my speech last week to Broker Dealers at the Financial Services Exchange meeting in Atlanta: Follow the money!
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The Grinch Who Stole Christmas

The economy has been in the toilet since 2007 and although everyone keeps saying “the 2nd half of next year we should see a rebound” the stark truth is that there is no rebound in site and anyone saying differently is either a shill for the government or an absolute moron. The Financial Reform Act which was thrust down the throats of Financial Institutions and taxpayers will be the “Grinch that Stole Christmas”.
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One Firm One Vote

We can only do so much here and we think its important to let the candidates know how you feel instead of just beating us up. We are here to help the small firms and brokers out there and unlike other group sout there we believe in accountability and if our guys aren't living up to their word then we will find others that will.
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SIPA Board Members Selling Out?

As it turns out maybe Lisa Roth was the only one being truthful or perhaps was the only one who would have the gumption to stand up to the FINRA board. That remains to be seen but the point is that the explanation given by FINRA is the exact SAME explanation that was included with the proxy ballot. As outlined last week, the rationale behind the lack of transparency makes no sense at all
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Goldman takes one for the Team

As I read the SEC press release on Friday charging Goldman with fraud I couldn’t help but laugh and wonder if they contacted Mario Puzo and asked for advice on how to get the swirling controversy around them to subside. The fraud charges are comical at best due to the fact that one person from Goldman was named in the SEC indictment.
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Please contact us when your ready and we will point you to a PCAOB Accountant that is in your area and price range. Eventually we will be posting as a resource to all readers of BDexchange’s Newsletter and The SIPA will be posting the contact info on its site shortly. If you are one of the lucky firms that has a PCAOB Accountant that has not taken advantage of the new requirement then let us know and we would be happy to add him or her to our growing list.

Regulatory Overhaul??

Today the Treasury Secretary began outlining his vision of a new Regulatory structure to replace the old one. This new system will save us all from another catastrophic meltdown in our financial system and make sure corruption and greed is caught early on. The SIPA response? Yadee Yadee Yadee… With all due respect, why create […]
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Brokers Beware!

CYA In These Crazy Times As one of the leading voices of Registered Reps and their rights to Life, Liberty and the pursuit of higher returns, The SIPA has had an out pouring of e-mails and phone calls from Individual registered Representatives who are now being made the brunt of this cruel Bail-out Blarney.  As […]
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“Failed” Regulation??

How To Insult The American Public With A Smile On Your Face Today the SEC Chairman Christopher proclaimed that “ The SEC Failed to Investigate and Probe Madoff”.  (Click here to read story). While this might sound to some of you as a small act of contrition and public acknowledgement of his agency’s failings, this […]

Hedge Fund Mess Just Beginning To Come Home To Roost

Why Madoff will not be an isolated case Over a year ago we questioned whether there was sufficient regulation of the Hedge Fund industry (click here to read).  In light of the Madoff Meltdown the important question brokers must be asking themselves now is not IF more regulation is necessary, but should one remove one’s clients’ […]
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