Sunday, December 17, 2006

Someone didn't like Larry I think...

-----Original Message-----
From: []
Sent: Wednesday, December 13, 2006 12:17 PM
Subject: FW: Current NASD Advertising violations

Please comment and advise.
Name withheld
National Branch Compliance Manager,
Brookstreet Securities
2361 Campus Drive #210 Irvine, Ca 92612
1(800)268-2578 ext 181
FAX (949)679-6730
-----Original Message-----
Name withheld []
Sent: Saturday, December 09, 2006 8:51 AM
Name withheld
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
2) In 2005 Businessweek chose to produce the following article on the fraudulent marketing products sold by Larry Klein.
3) On page 65 of the 2006 Kipplingers Retirement Guide please review the article titled “Beware the FLIMFLAM MAN” describing the CRFA “Professional Designation” listed above and discussing regulatory actions being taken against NASD member firms.
4) If a registered representative at your firm is using the CRFA designation or NF Communications marketing material it may be useful to request they submit not only the portion of the marketing system addressed by old NASD review letters dated 2001-2005 (the NASD stopped reviewing NF products in early 2006) but also the remaining portion of the system not addressed by the NASD to ascertain its compliance with which took effect December 1, 2006.

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