Stark & Stark Shareholder Comments on FINRA Expulsion

Posted on October 20, 2009 by Stark & Stark
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Stark & Stark Employment Group Chair, Thomas B. Lewis, was quoted in the October 19, 2009 Wall Street Journal article, COMPLIANCE WATCH: Expulsion Shows Risks Of Outside Accounts.

 

The article discusses the recent expulsion of Miguel A. Chavez by the Financial Industry Regulatory Authority (FINRA). The expulsion comes as a result of Chavez's association with firms that sell securities after he opened an outisde account and did not inform his employer of the account. Mr. Lewis states that brokers who are contemplating a job change may want to move their assets to another brokerage if they anticipate a dispute about money owed for a signing or retention bonus, which are typically secured by promissory notes.

 

You can read the full article oline here. (PDF)

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