In discussing the state of FINRA enforcement's activities, FINRA Enforcement Director Brad Bennett said he will not pursue a violator if the Securities and Exchange Commission or state regulators are going after the same individuals and the same firms for the same acts.
“If there is no reason for us to be in a case, we won’t be there just to collect fines,” said Bennett.
We will have to wait and see how this pans out.
For more information, go to Finra Enforcement Chief: Smaller Ponzi Schemes The Norm Post Meltdown
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