A Paperwork Shortcut Nearly Short-Circuits a Young Broker's Career

A Paperwork Shortcut Nearly Short-Circuits a Young Broker's Career

In 2005, 21-year-old Freddy Medina, freshly graduated from college, joined the investment industry. By 2007, he was providing investment advice to bank customers at three PNC Investments LLC branch offices in Newark NJ. On May 6, 2008, following discussions with Medina, a PNC customer signed a form...

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Veröffentlicht in:REP 2011-11, Vol.35 (11), p.99
1. Verfasser: Singer, Bill
Format: Magazinearticle
Sprache:eng
Schlagworte:
Brokers
Investment advisors
Litigation
Medina, Freddy
Professional misconduct
Regulatory agencies
Violations
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Zusammenfassung:In 2005, 21-year-old Freddy Medina, freshly graduated from college, joined the investment industry. By 2007, he was providing investment advice to bank customers at three PNC Investments LLC branch offices in Newark NJ. On May 6, 2008, following discussions with Medina, a PNC customer signed a form to initiate the withdrawal of funds from her life insurance accounts in contemplation of purchasing a fixed annuity plan. Based upon the issues noted above, the Financial Industry Regulatory Authority issued a complaint charging Medina with violating NASD Conduct Rules 2110 and 3110. Singer offers a detailed discussion of the case.
ISSN:1539-7149
2469-6269
2469-6277