I apologize for not posting anything recently, but, sadly, I was embroiled in a two-week arbitration that occupied most of my recent attention. I am home, however, and back in the saddle. In the meantime, here’s a post from Blaine Doyle, author of the classiest post ever in this blog, something about ancient Greece. I
OTR
When It Comes To Testifying To The SEC, Providing Alternative Facts Can Be A Bad Idea
By Alan Wolper on
At the beginning of most FINRA OTRs, the examiner reads from a script of sorts, outlining some of the basic rules governing the proceeding. One of the things the script calls for is an express acknowledgement by the witness that he or she is testifying pursuant to Rule 8210, and that, as a result, a…
FINRA OTRs: Preparation Is The Key
By Michael Gross on
Last week, I published a post about the benefits of “lawyering up” when dealing with FINRA, particularly to handle the defense of an OTR. Here, my partner Michael Gross, who, like me, is a former FINRA Enforcement attorney, offers his advice about how properly to prepare for an OTR. While this post is helpful, it…
It Can Pay To “Lawyer Up” When Dealing With FINRA
By Alan Wolper on
Posted in Defenses, Disciplinary Process, Enforcement, Examination, FINRA, OTR, Registered Representative, Sanctions
I realize that the title of this blog post may sound self-serving, so I apologize for that up front, as it is not my intent. Still, there is a lesson here to be learned.
I got a phone call yesterday from a reporter asking me to comment on a disciplinary action that FINRA had just…
The True Definition of a FINRA “OTR”: “O”utrageous “T”ime and “R”esources”
By Alan Wolper on
Before I became a District Director for NASD, I was an attorney with its Department of Enforcement. In those days, I would occasionally take someone “on the record,” but only when it was clear that a formal disciplinary action, i.e., a complaint, would be forthcoming. The purpose of the OTR was principally to memorialize and…