Table of Contents - Practising Law Institute

BROKER-DEALER REGULATION
[F] New Member Exams .......................................... 34-20
[G] Letter Exams ....................................................... 34-21
[H] Advertising Spot-Check Exams........................... 34-21
[I] Product-Based Exams.......................................... 34-21
[J] SEC Quality Exams ............................................ 34-21
§ 34:4.4 Rights and Responsibilities Vis-à-Vis
Members and FINRA.......................................... 34-22
[A]
FINRA Right to Information and
Inspection ........................................................... 34-22
[B] Duty to Comply.................................................. 34-22
§ 34:5 FINRA Disciplinary Program...................................... 34-23
§ 34:5.1 Generally............................................................. 34-23
§ 34:5.2 Disciplinary Program .......................................... 34-24
[A] Delegation of Responsibility to FINRA............... 34-24
[B] Enforcement Department Investigation.............. 34-25
[C] Authorization of Proceedings .............................. 34-27
[D] Hearings.............................................................. 34-27
[E] Issuance and Review of Decisions ...................... 34-29
§ 34:5.3 Resolution of Disciplinary Proceedings............... 34-30
§ 34:5.4 Sanctions ............................................................ 34-30
§ 34:5.5 SEC Review......................................................... 34-31
§ 34:5.6 Statutory Disqualifications ................................. 34-32
§ 34:5.7 Conclusion.......................................................... 34-32
Chapter 35 SEC and FINRA Enforcement
Richard D. Marshall & Sean E. Kreiger
§ 35:1 Introduction.................................................................. 35-3
§ 35:2 SEC Enforcement.......................................................... 35-4
§ 35:2.1 Introduction.......................................................... 35-4
§ 35:2.2 How the SEC Conducts an Investigation ............. 35-5
[A] Informal Inquiries................................................. 35-7
[B] Formal Investigations ........................................... 35-8
[B][1] Rights of Witnesses During Formal
Investigation .................................................... 35-11
[B][1][a] Right to Counsel ........................................... 35-11
[B][1][b]
Right to Evidence Provided and Transcript
of Testimony ................................................. 35-12
[C] Conclusion of the Investigation.......................... 35-12
[C][1] The Wells Notice ............................................. 35-12
[C][2] Recommendation to the Commission............. 35-14
[C][3] Settlements ...................................................... 35-14
§ 35:2.3 Outcomes of an Investigation............................. 35-14
[A] Injunctive Actions............................................... 35-15
[A][1] Money Penalty Awards .................................... 35-16
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