And the folks formerly known as the NASD are launching a multi-million dollar ad campaign to prove it!

-- MDT

Labels: FINRA, love, NASD

In a recent paper Brian Rubin and Christian Cannon at Sutherland Asbill & Brennan offer their analysis of when to litigate against a potential disciplinary action from the Financial Industry Regulatory Authority (formely the NASD - yes I am not used to the new name either. The Daily Caveat hates change.)

Rubin, for his part, is the former Deputy Chief Counsel of Enforcement for the NASD. No doubt he has a pretty nuanced view of the functioning of the FIRA. The report walks you through the disciplinary process and, based on an analysis of a number of trials, offers guidance on when to take your lumps and when to hit back.

The report summary is here, the full monte here.

-- MDT

Labels: Brian Rubin, Christian Cannon, FIRA, NASD, Sutherland Asbill

Unamused, the NASD filed a complaint earlier this week. Morgan Stanley, they claim, had backed up their systems on August 30, 2001 and has since that time been systematically deleting emails that would have been relevant to the investigation into whether or not Morgan Stanley was routinely overcharging customers. This would also not be the first time Morgan Stanley has dragged its collective wingtipped heels when asked to turn over potentially incriminating details to regulators. The SEC has already slapped the firm on the same issue.

Read on at The Washington Post.
-- MDT

Labels: disclosure of evidence, Morgan Stanley, NASD, SEC