Rule 2020-041was just passed in an attempt to deter certain institutions from hiring employees that have a long history of misconduct. These employees are likely to continue their streak of misconduct and are less likely to become whistleblowers.
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links;
https://www.reddit.com/r/Superstonk/comments/ovpx74/new_rule_approved_307_srfinra2020041_member_firms/
https://www.finra.org/sites/default/files/2020-11/SR-FINRA-2020-041.pdf
I personally think that it is outrageous that these employees are allowed to be re-hired and continue to commit misconduct, these employees should be banned from the industry and imprisoned, rather than receiving a small slap on the wrist and nothing else.
The new ruling means that firms that employee these people will be designated 'restricted firms', will have to deposit money with the DTCC and will be restricted from certain activities.
Not the best way to prevent misconduct, but a start.
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Welcome back to the channel everyone today, i want to talk about how hedge funds hire criminals, those that have previously broken fcc rules and have been caught for it are being hired by hedge funds. All the time the dtcc have just made a new filing 2020 op. 1, that should hopefully put a stop to this kind of trust. Me guys.

You do not want to miss this video, so stay tuned and let's make some money, but guys before i dive into the video. I just want to give a massive shout out to the 3 200 of you that are currently doing that notification bell, because you guys are always the first to watch a new video as soon as it's released so guys be sure to drop a like down below Subscribe to the channel and ding that notification bell, if you haven't already so that you don't miss another video, just like this one and now i want to dive straight in with the key information, so new rule approved 30th of july sr, finra, 2020, 041 member firm's Implication of employee misconduct, it's another rule, squeezing those bad actors. The rule has been approved after being proposed in november 2020. I have not gone through the detail, including the letters and comments submitted as part of the review process.

The process has taken a while, and there was a predetermined deadline of the 30th of july 2021 to approve or disprove. Hey presto, it's approved just my own quick interpretation. It appears that some firms are consistently and willingly recruiting rogue employees with a history of misconduct. Who then go on to continue breaking the rules? Firms who employ these people will now either have to get rid of those rogues or pay financial deposit that is not accessible by the firm who pays it.

The amount reflects the risk of employing such people. Firms will also be publicly displayed as restricted firms to give investors more transparency about the risk associated with the firm relating to the people it employs. If i was to read between the lines, firms are proactively employing rogue traders who have breached the rules previously because they are exactly the type of people who will happily comply with their new employer's request to break more rules, commit crimes, manipulate systems cover evidence, turn a Blind eye to fraud lie to regulators, misrecord data etc. So why are these rogue new employees also attractive, they're, less likely to whistle blow or squeal? These firms are rogues who are employing rogues, who make money for more rogues.

I've not read through the entire document or response letters from firms, i'm sure there's more juicy info to find i've actually got that filing open on another tab and in a second we're going to digest it together. This proposal is designed to address persistent compliance issues that arise at some finra member firms that generally do not carry out their supervisory obligations to achieve compliance with applicable securities laws and regulations and finra rules and act in ways that could harm their customers and erode confidence. In the brokerage industry, according to finra, recent academic studies have found that some firms persistently employ registered representatives who engage in misconduct and that misconduct can be concentrated at these firms. Finra states that these studies also provide evidence that the past disciplinary history and other regulatory events associated with a firm or individual can be predictive of future events, while these firms may eventually be forced out of the industry through finra action or otherwise.
Finra observed that these compliance issues included a persistent if limited population of firms with a history of misconduct that may not be acting appropriately as a first line of defense to prevent customer harm. Basically, what this means is that there's a small group of firms or hedge funds that persistently and regularly employ people that have broken sec rules. These people have been caught and fined and then re-employed only expected to be breaking the rules. Yet again, i personally don't even think this should be allowed.

I think if somebody breaks the rules, they should get disqualified from being an investment advisor and being allowed to work in a hedge fund or an institution. Similarly, to accounting, if you breach the code of ethics, you get banned from being an accountant ever again, or at least banned for say, 10 years, for example, but yet with a hedge fund. If somebody breaks the rules, they just get a slap on the wrist. A small fine and a new job down the road.

So, looking at that new ruling, the first point is to require member firms that are identified as restricted firms to maintain a deposit in a segregated account from which withdrawals would be restricted from doing a quick search for restricted firms. It does look like they're going to be making available to member firms a list of expelled firms or a list of those restricted firms. However, from doing a quick search, it looks like that. Restricted firm list isn't yet publicly available.

Hopefully, as this regulation goes through and is implemented over the next few days, that list is published for all to see. It does also say here. If the commission approves the proposed rule, change finra will announce the effective date of the proposed rule change in a regulatory notice to be published no later than 60 days following commission approval. So therefore, hopefully, in the next 60 days, there should be a publicly available list of all restricted member firms that consistently and persistently re-employ people that have broken sec rules.

Although i'm not quite sure if the obligations could include requiring a member firm to maintain a specific deposit amount is the best way to go about it. Considering that these huge, huge hedge funds have tons of cash on hand, putting a small amount of it into a separate bank account that they can't touch, isn't necessarily the best way to deter them from hiring previous criminals. Although it does say, the obligations could also include conditions or restrictions on the operations and activities of the member firm and its associated persons that relate to so maybe they could restrict these restricted firms from investing in certain securities or from promoting certain products, for example, that Might benefit a little bit more and might make the hedge fund think twice about employing these criminals. Again, i'm not quite sure it's the best way to go about it, but at least it is a step in the right direction.
I personally would love to know how many restricted individuals or previous criminals are employed by market makers such as citadel and virtue guys be sure to. Let me know down in the comments below what you think about this ruling. Do you think it's fair that hedge funds and market makers can employ previous criminals with a history of misconduct and guys, if you haven't already i'd, really consider joining the patreon and becoming part of the team? So you can get urgent, updated due diligence and news on amc like this before i even make a video linked in the description below and as always guys, if you enjoyed this video, be sure to check out some of my others. Alternatively, subscribe to the channel and ding that notification bell, because that way, you'll be alerted when i upload a new video cheers.


By Stock Chat

where the coffee is hot and so is the chat

32 thoughts on “What?! πŸ”₯ hedge funds are hiring criminals!! πŸ”₯ – amc stock short squeeze update”
  1. Avataaar/Circle Created with python_avatars CJ says:

    We should hire Anonymous to hack there darkpools!!!

  2. Avataaar/Circle Created with python_avatars roger brandt says:

    Janet yellin got a $800,000.00 speaking fee at citadel, then she says government isn’t doing anything with citadel because it would affect people’s pensions, nothing is happening people, till a

    MILLION APE MARCH

  3. Avataaar/Circle Created with python_avatars Will F.H says:

    Blah blah…all the problems with the market and hedge funds are so easily solved if they wanted to. The will isn't there.

  4. Avataaar/Circle Created with python_avatars T Roy says:

    How about everybody reach out to their elected officials and voice your opinion on the corruption, manipulation and fraud going on currently in the stock market.
    Rally together to vote out of office the 22 members of Congress who voted against transparency in the stock market.
    If Congress and the Senate can impeach a sitting president in one day how is it that they’re unable to pass legislation to stop the corruption fraud and manipulation in the US stock market instead go on vacation for six weeks.
    Well let’s look at the facts:
    (1) they have achieved impeaching a sitting president twice and lost.
    (2) created the largest US debt in history
    (3) made more American families homeless
    (4) allowed the corruption manipulation and fraud to go on for more than two decades and profited from it
    (5) created an economic crisis and possible financial crash that could be the worst in the world has ever seen.
    The President of the United States has term limits, how about term limits Sitting congressmen and Senators also. This would prevent them from getting complacent and make it harder for large corporations and companies to pay them off instead of doing what they were elected to do. Look out for your best interest not theirs.

  5. Avataaar/Circle Created with python_avatars your wife's boyfriend says:

    We have more criminals if they want to go that way lol

  6. Avataaar/Circle Created with python_avatars Renegade Geniuses says:

    Thanks for keeping up with the content Tom!
    Much appreciated as always

  7. Avataaar/Circle Created with python_avatars Andy Tran says:

    Since the in inception it's one-and-the-SAME!

  8. Avataaar/Circle Created with python_avatars Todd Downey says:

    THE FINE SHOULD FIT THE CRIME .HIT THEM HARD ENOUGH.

  9. Avataaar/Circle Created with python_avatars Marek Halczuk says:

    The hf so criminal they eat yesterday man food and all hf sitting on the Toilette and …… and fucked US!!! Thats true Informationen!! Yes amc to the moon next Day,week, mounth ,year bla bla bla

  10. Avataaar/Circle Created with python_avatars Blindspot Spotter says:

    It's like the CIA's hiring practices to find covert and wet-worx agents.
    "These jobs require people with a more fungible set of morals."

  11. Avataaar/Circle Created with python_avatars Chrissy Campbell says:

    To put a stop to this illegal activity, you need to take them to court/jail

  12. Avataaar/Circle Created with python_avatars Antony says:

    Seems that all info that you share in your videos… is from nowhere…. πŸ€·πŸ»β€β™‚οΈ you just copy from everywhere without doing any research by yourself. The worst is that you often share not verified info.

  13. Avataaar/Circle Created with python_avatars Courtney life Journey and Perception says:

    Seriously hope people go to prison. This is blatant and disgusting.

  14. Avataaar/Circle Created with python_avatars JASON SHARP says:

    Something weird is going on with lv2 pricing in ARCA. Bids are near $95+/share asks are less than $2/share. Anybody know what is going on with that?

  15. Avataaar/Circle Created with python_avatars Charles baker says:

    From my experience these rule breakers are free masons if you wear the ring your brothers are obligated to help you out

  16. Avataaar/Circle Created with python_avatars JESUS ROBERTO LIZARRAGA HERNANDEZ says:

    SEC is hiring the criminal of the HF. They are manipulating the market and goverment is protecting them. All the syntetic stocks that sell a few days ago and SEC didnt do anything

  17. Avataaar/Circle Created with python_avatars Shawn Hennigan says:

    No it's not fair it's illegal this is only going on in the States United States is known for this

  18. Avataaar/Circle Created with python_avatars Vill Ram says:

    Should just ban people and companies from the stock market completely if they are found to be manipulating the stock or front running orders. That would solve all these problems.

  19. Avataaar/Circle Created with python_avatars SpaceLion87 says:

    Do you think the SFH we are facing might have influence on the incoming Chinese Market Crash? (if they can short U. S. indexes, why not foreign ones..)

  20. Avataaar/Circle Created with python_avatars hansheapau ma says:

    See how they were given very long & comfortable time to comply, should disallowe

  21. Avataaar/Circle Created with python_avatars Mike Bradshaw says:

    Sometimes i really wonder how people talk about china all the time as being corrupt and all this… i look at our daily world 🌎 here in the states and wonder. Who is corrupt ? πŸ€”

  22. Avataaar/Circle Created with python_avatars subhastheboss says:

    These HF criminals should go to jail instead of fines. Thank you Thomas, very good info.

  23. Avataaar/Circle Created with python_avatars alphach1mp says:

    Simple. arrest them. Put them on 100 million dollars bail. Keep them there for 5 years without a hearing or trial unless they post bail. If released, just arrest them again with additional charges and triple the bail fine. Yes, this happens all the time with small offense towards the poor that can’t afford bail. Pretty sure that this will set them straight.

  24. Avataaar/Circle Created with python_avatars hansheapau ma says:

    Thomas, all agencies whose names ending in one C or 2 CC such as SEC or DTCC are siding/supporting/facilitating HF operations, they are a mockery!

  25. Avataaar/Circle Created with python_avatars kevin says:

    strange all the banks and hedgefunds advertising for new staff

  26. Avataaar/Circle Created with python_avatars kerriereed says:

    Basically they just have to do what criminals do. Fake ur ID fake ur license. Since everyone is working from home it’s not hard to get away with still

  27. Avataaar/Circle Created with python_avatars Amy K. says:

    I saw an interview with someone who used to work for hedgefunds, said HF do drug trafficking and hired mafia too.

  28. Avataaar/Circle Created with python_avatars John Cardoso says:

    Your hand gestures are so fucking unnatural & exaggerated… Fucking stop lol

  29. Avataaar/Circle Created with python_avatars November Rain!πŸ™ says:

    The hedgies violate/break rules make billions in profits..then get a $10k to $50,000" fine".. it's a Joke by design. I hope GINSLER fights for the small guy/fairness.

  30. Avataaar/Circle Created with python_avatars brookfieldbrothers says:

    HODL AND OR BUY … LET'S GO….

    GREAT SHIT TOMMY BOY!

  31. Avataaar/Circle Created with python_avatars Chris Raymond says:

    Well tom .. they are all criminals!!! Thieves!!! Morning

  32. Avataaar/Circle Created with python_avatars Thomas James - Investing says:

    What do you think about hedge funds hiring those with records of misconduct? and FINRA's 'attempt' to stop it?

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