Articles Tagged with Unauthorized Trading Lawyer

Murry Meir Shapero of Aventura, Florida submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was fined and suspended for violating NASD Rule 2510(b) and FINRA Rule 2010.

NASD Rule 2510(b) prohibits registered representatives from exercising discretion in a customer’s account unless the customer gives prior written authorization to the registered representative and the registered representative’s member firm provides written acceptance of the account as discretionary.’ FINRA Rule 2010 requires that member firms and registered representatives “observe high standards of commercial honor and just and equitable principles of trade.” A violation of NASD Rule 2510(b) is also a violation of FINRA Rule 2010. Continue Reading