SEC Says Ex-FINRA Director Altered Documents

Law360, New York (October 27, 2011, 2:05 PM EDT) -- The U.S. Securities and Exchange Commission on Thursday said a former top official at the Financial Industry Regulatory Authority altered documents prior to a 2008 inspection, and ordered the self-regulatory organization to hire consultants to review its compliance procedures.

According to the SEC, the former director of FINRA's Kansas City, Mo., office in August 2008 deleted and edited records from three staff meetings just hours before handing them over to the SEC's inspection staff.

The changes to the documents made them “inaccurate and incomplete,” the SEC...
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