Saturday, December 16, 2006

NASD Compliance Problems With Larry Klein's...

Materials, or materials produced by NF Communications

Does anyone care to comment on that? I recently saw a letter on the internet that's suposedly been forwarded to compliance officers at most of the broker/dealers around the country, it was pretty damning and I'm wondering if it wasn't a significant part of his undoing?

Here's just part of it...

Subject: Current NASD Advertising violations

The registered representatives of your firm are using marketing products from Larry Klein and his two companies NF Communications and the CRFA “Professional Designation” and marketing system
1) In 1996 Larry Klein was expelled on a lifetime basis by both the Securities & Exchange Commission and the NASD for fraudulent business activities with senior citizens and was ordered to pay over $400,000 in restitution for his marketing strategies used against senior citizens

Obviously, there's much more... Has anybody else seen this?

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