_________________________________________________________________________________________________________________________________________
FINRA RUSH TO THWART INVESTIGATION ON BURYING FINRA DRS IN TO FINRA REGULATION (c) Carrie Devorah:
________________________________________________________________________________________________________________________________________
FINRA RUSH TO THWART INVESTIGATION ON BURYING FINRA DRS IN TO FINRA REGULATION (c) Carrie Devorah:
________________________________________________________________________________________________________________________________________
It's always just a matter of time. Every mom tells her kid that, you will get caught, eventually.
PIABA, Public Investors Bar Association filed a last minute Comment with the S.E.C. on "PIABA Comment Letter, Proposed Rule Change to Merge FINRA Dispute Resolution, Inc. into and with FINRA Regulation, Inc." was due November 3, 2015.
FINRA publishes most Comment solicitations on their website. Not this one.
FINRA usually gives a wider window for submitting comments. Not this one, for good reason. FINRA has been bad, very bad, and it seems dots are being connected, by Congress and others. Burying FINRA Dispute Resolution in to FINRA Regulation wont make the problems, bad things, already done go away. And no, burying a misbehaving business league inside another business league wont protect the bad people like marrying someone to silence them will protect a spouse from being testified against.
Doesnt work that way.
You see what FINRA has been up to is pretending their D.R.S., Dispute Resolution is (a) approved by Congress and (b) a place investors are supposed to go into. Nope. Nope. Nope.
You see, Congress wrote a law. That law said an S.R.O. self regulatory organization could be established. Congress, you see, was very specific. The S.R.O. was only given authority over Brokers and Brokerages. That was it. Finis. Brokers and brokerages. Congress did not state investment advisors and investment clients, yet, somehow, investment clients and investment advisors became a mainstay of the FINRA funding diet.
The lawyers that promote themselves as "securities lawyers" bought in to it to, for a reason. A client is cash. A client in a FINRA arbitration is a cash cow to lawyers that do bad like, argue cases in jurisdictions the lawyer is not licensed in or pro-hac viced in. Mind blowing was to read that a former PIABA exec was active in NASD rule making. Looks impressive on a resume but to the common person appears like a conflict of interest. Well what is an investment client to do, moreso, since they have no idea the backdoor jimmying is going on and common to both PIABA and FINRA's mission statements is "investor protection." Check out their Mission Statements yourself.
Word has been getting out, and more important, heard by Legislators and regulators who came along too far in to the regulatory scene to not know 'this' is how things are meant to be done.
PIABA has been screaming for years about FINRA and FOIAs when in fact FINRA is not entitled to FOIAs. FINRA general counsel Terri Reicher wrote that in black and white. It is being read, nearly, all over. The House Financial Services email confirmed that Congress does not create private businesses. Yet, somehow FINRA has conveyed the impression that Congress authorized FINRA under a statute of Congress. Says so on their website. And that FINRA handles 99% of the Wall Street disputes. It does and for good reason.
You see if someone keeps the crime away from being reported to law enforcement then the crime never took place, that is of FINRA's dues paying members. Oh yes! Did I neglect to mention that 3 of FINRA's non profit entities are business leagues, 501(c)(6) and the 4th is FINRA's lobbying arm.
You ever hear that pedophiles hang around schoolyards? Well, FINRA is sort of like that too- hanging around unsuspecting old people, military, nice people- you know, the ones that cant tell a good fiduciary from a bad. Yeah, like legislators who welcomed a panel of nice people and old PIABA people to testify but did not run their fingers down the 'yellow pages' of FINRA's fiduciary that will get lumps of coals in their stockings come Christmas. Thousands. Increasing. More so in these days of increasing Internet TLD's, anonymity and alias. One online bad FINRA member has over, yes, over 55 online alias. This bad member came to the FINRA rodeo no less than 5 published times. No one will ever know how many unpublished times because FINRA makes bad crimes go away. Better yet, get this, FINRA destroys criminal behaviour and FINRA Dispute Resolution after 5 years.
Gone.
Kaput.
Nada.
Eric Garner didnt get that courtesy.
Wolf of Wall Street did. Madoff did. Check it out. FINRA's former, the NASD, knew all about Madoff back in 1963.
No no no, dont run to a lawyer, yet, telling them you have been wronged. Lawyers look at case precedence. Somewhere along the way the NASD got a judge to rule that FINRA is protected by FOIA, Freedom of Information Act.
Not at all, you got to be a .gov to get FOIA protection not a .org.
FINRA is a .org
And, the SEC is in deep poo poo as says Kevin O'Reilly on Shark Tank,. Yup. Because, Congress wrote laws to create the Commission and the Commission's job is to oversee effecting and compliance to the laws that Congress wrote. No. The SEC has no judgment. The SEC is a regulator. Regulatory agencies have no balls, they are neutered.
The big zero is that FINRA claims to be guided by the FAA. It isnt, trust me. Investors and awardees get funneled in to the court system where the judges assume because they do online self trading that makes them an expert. The best is the judge out on sick leave with legal news publishing the associate her cases were going to yet, quelle surpris, a decision came down upholding FINRA documented frauds.
If there was ever a confirmation there is are two sets of rules inside FINRA, one for Main Street and one for Wall Street, there is a FINRA letter circulating that confirms it. The words are 'there is nothing we can take away from you....'
What ever happened to "neutral" a Ground Zero for arbitration unless, shock of all shocks, FINRA arbitrations are not neutral.
Let's see
-investors forced in to a wrong venue (congress did not state investment clients or investment advisors, just BROKERS AND BROKERAGES)
-discovery forced of investors (already in the wrong forum) but wouldnt you cough up your tax returns if threatened by a subpoena duces tecum while no discovery was ordered by the FINRA case manager in any one of their 7o nationwide forims
-oh yeah, and that Federal v Local and that there is no one law that drops from Federal to state to local that ties all of them together leaving all the venues struggling over figuring out which crime will do the time. Congress drop ONE law at least the meets the requirements of all three
Yup. And as things catch up to them? Well, there is another word that can be used, unladylike though.... let's say, hmmm, think hardware store, think hammer..... you get the picture.
So in about 4 days, 46 people are going to get a second chance at life minus ten years lost because there are 2 sets of rules- one for Main Street and one for Wall Street. Wall Street let Madoff, Wolf and radio talkers walk free to be recidivous again while 46 men and women, in the least, are entering back in to a world that left them behind. The 46 were incarcerated for minor drug busts. The thousands of FINRA & NASD over the years? They destroyed the lives of innocent strangers, repeatedly because FINRA covered up their crimes, making them- accessories to crimes of Identity Theft, money theft, adopting dead accounts, and having the NAC vote to continue membership of criminals by waving a faux regulatory wand then declaring the firm found Jesus, until the next time- can we say ARS, money laundering, failure to oversee CAs and RRs. The list goes on and on.
I guess if one has to become an expert on something so esoteric , becoming an expert on FINRA and what FINRA does will have social benefits.
If you ask me, alot of conned people can start lining up hands up to collect on what FINRA facilitated being stolen, like monies lost, stolen. It is, though though, the years lost, the esteem and the litigations on their record are hard to deal with.
In a private world of FINRA litigation where digital audio get lost, exhibits get faked and true evidence gets ignored... it is the thinking there is something wrong with 'me' that haunts all the good people, FINRA whistleblowers included too.....
Put your cloves of garlic and your silver cross in to your Bitcoin wallets. Dont leave home without them, wink.... hisssssssssss, yeah, be prepared to put a stake through these vampires hearts..... then dance naked to the Blue Moon only after one of the presidential candidates gets this Wall Street v Main Street conversation right..... then dance naked to the Blue Moon only after one of the presidential candidates gets this Wall Street v Main Street conversation right.....
PIABA, Public Investors Bar Association filed a last minute Comment with the S.E.C. on "PIABA Comment Letter, Proposed Rule Change to Merge FINRA Dispute Resolution, Inc. into and with FINRA Regulation, Inc." was due November 3, 2015.
FINRA publishes most Comment solicitations on their website. Not this one.
FINRA usually gives a wider window for submitting comments. Not this one, for good reason. FINRA has been bad, very bad, and it seems dots are being connected, by Congress and others. Burying FINRA Dispute Resolution in to FINRA Regulation wont make the problems, bad things, already done go away. And no, burying a misbehaving business league inside another business league wont protect the bad people like marrying someone to silence them will protect a spouse from being testified against.
Doesnt work that way.
You see what FINRA has been up to is pretending their D.R.S., Dispute Resolution is (a) approved by Congress and (b) a place investors are supposed to go into. Nope. Nope. Nope.
You see, Congress wrote a law. That law said an S.R.O. self regulatory organization could be established. Congress, you see, was very specific. The S.R.O. was only given authority over Brokers and Brokerages. That was it. Finis. Brokers and brokerages. Congress did not state investment advisors and investment clients, yet, somehow, investment clients and investment advisors became a mainstay of the FINRA funding diet.
The lawyers that promote themselves as "securities lawyers" bought in to it to, for a reason. A client is cash. A client in a FINRA arbitration is a cash cow to lawyers that do bad like, argue cases in jurisdictions the lawyer is not licensed in or pro-hac viced in. Mind blowing was to read that a former PIABA exec was active in NASD rule making. Looks impressive on a resume but to the common person appears like a conflict of interest. Well what is an investment client to do, moreso, since they have no idea the backdoor jimmying is going on and common to both PIABA and FINRA's mission statements is "investor protection." Check out their Mission Statements yourself.
Word has been getting out, and more important, heard by Legislators and regulators who came along too far in to the regulatory scene to not know 'this' is how things are meant to be done.
PIABA has been screaming for years about FINRA and FOIAs when in fact FINRA is not entitled to FOIAs. FINRA general counsel Terri Reicher wrote that in black and white. It is being read, nearly, all over. The House Financial Services email confirmed that Congress does not create private businesses. Yet, somehow FINRA has conveyed the impression that Congress authorized FINRA under a statute of Congress. Says so on their website. And that FINRA handles 99% of the Wall Street disputes. It does and for good reason.
You see if someone keeps the crime away from being reported to law enforcement then the crime never took place, that is of FINRA's dues paying members. Oh yes! Did I neglect to mention that 3 of FINRA's non profit entities are business leagues, 501(c)(6) and the 4th is FINRA's lobbying arm.
You ever hear that pedophiles hang around schoolyards? Well, FINRA is sort of like that too- hanging around unsuspecting old people, military, nice people- you know, the ones that cant tell a good fiduciary from a bad. Yeah, like legislators who welcomed a panel of nice people and old PIABA people to testify but did not run their fingers down the 'yellow pages' of FINRA's fiduciary that will get lumps of coals in their stockings come Christmas. Thousands. Increasing. More so in these days of increasing Internet TLD's, anonymity and alias. One online bad FINRA member has over, yes, over 55 online alias. This bad member came to the FINRA rodeo no less than 5 published times. No one will ever know how many unpublished times because FINRA makes bad crimes go away. Better yet, get this, FINRA destroys criminal behaviour and FINRA Dispute Resolution after 5 years.
Gone.
Kaput.
Nada.
Eric Garner didnt get that courtesy.
Wolf of Wall Street did. Madoff did. Check it out. FINRA's former, the NASD, knew all about Madoff back in 1963.
No no no, dont run to a lawyer, yet, telling them you have been wronged. Lawyers look at case precedence. Somewhere along the way the NASD got a judge to rule that FINRA is protected by FOIA, Freedom of Information Act.
Not at all, you got to be a .gov to get FOIA protection not a .org.
FINRA is a .org
And, the SEC is in deep poo poo as says Kevin O'Reilly on Shark Tank,. Yup. Because, Congress wrote laws to create the Commission and the Commission's job is to oversee effecting and compliance to the laws that Congress wrote. No. The SEC has no judgment. The SEC is a regulator. Regulatory agencies have no balls, they are neutered.
The big zero is that FINRA claims to be guided by the FAA. It isnt, trust me. Investors and awardees get funneled in to the court system where the judges assume because they do online self trading that makes them an expert. The best is the judge out on sick leave with legal news publishing the associate her cases were going to yet, quelle surpris, a decision came down upholding FINRA documented frauds.
If there was ever a confirmation there is are two sets of rules inside FINRA, one for Main Street and one for Wall Street, there is a FINRA letter circulating that confirms it. The words are 'there is nothing we can take away from you....'
What ever happened to "neutral" a Ground Zero for arbitration unless, shock of all shocks, FINRA arbitrations are not neutral.
Let's see
-investors forced in to a wrong venue (congress did not state investment clients or investment advisors, just BROKERS AND BROKERAGES)
-discovery forced of investors (already in the wrong forum) but wouldnt you cough up your tax returns if threatened by a subpoena duces tecum while no discovery was ordered by the FINRA case manager in any one of their 7o nationwide forims
-oh yeah, and that Federal v Local and that there is no one law that drops from Federal to state to local that ties all of them together leaving all the venues struggling over figuring out which crime will do the time. Congress drop ONE law at least the meets the requirements of all three
Yup. And as things catch up to them? Well, there is another word that can be used, unladylike though.... let's say, hmmm, think hardware store, think hammer..... you get the picture.
So in about 4 days, 46 people are going to get a second chance at life minus ten years lost because there are 2 sets of rules- one for Main Street and one for Wall Street. Wall Street let Madoff, Wolf and radio talkers walk free to be recidivous again while 46 men and women, in the least, are entering back in to a world that left them behind. The 46 were incarcerated for minor drug busts. The thousands of FINRA & NASD over the years? They destroyed the lives of innocent strangers, repeatedly because FINRA covered up their crimes, making them- accessories to crimes of Identity Theft, money theft, adopting dead accounts, and having the NAC vote to continue membership of criminals by waving a faux regulatory wand then declaring the firm found Jesus, until the next time- can we say ARS, money laundering, failure to oversee CAs and RRs. The list goes on and on.
I guess if one has to become an expert on something so esoteric , becoming an expert on FINRA and what FINRA does will have social benefits.
If you ask me, alot of conned people can start lining up hands up to collect on what FINRA facilitated being stolen, like monies lost, stolen. It is, though though, the years lost, the esteem and the litigations on their record are hard to deal with.
In a private world of FINRA litigation where digital audio get lost, exhibits get faked and true evidence gets ignored... it is the thinking there is something wrong with 'me' that haunts all the good people, FINRA whistleblowers included too.....
Put your cloves of garlic and your silver cross in to your Bitcoin wallets. Dont leave home without them, wink.... hisssssssssss, yeah, be prepared to put a stake through these vampires hearts..... then dance naked to the Blue Moon only after one of the presidential candidates gets this Wall Street v Main Street conversation right..... then dance naked to the Blue Moon only after one of the presidential candidates gets this Wall Street v Main Street conversation right.....