Spinning Out Of Control

Published Friday, February 01, 2008

Acting as Rocky Mountain Securities & Investments Inc.'s (RMSI) President, Director, Registered Financial and Operations Principal (FINOP), and Compliance Officer, Stephen J. Horning was a jack-of-all-trades — unfortunately, he appeared not to be a master of any. Horning was solely responsible for supervision of the Trading Department as well as the three-person Operations Department, which was run by a high-school graduate who had no registrations and had failed the Series 7. In 2001, the Securities and Exchange Commission (SEC) conducted a routine examination of RMSI and discovered that the Head Trader had accumulated over $600,000 in unreported trading ...

To continue reading this article, please register or login – it’s quick and free…

Member Login

Forgot password? Need Help?

Enter your email address below, and we'll email your password.

Are cookies enabled in your browser?

This site uses cookies and session data to keep track of your name and preferences while you're logged in. You cannot login without enabling cookies.

One Step Registration

Fill out the form below for instant access to the page you’ve requested.

Website members also receive access to our entire archive and may apply for a complimentary subscription to our print magazine.
All fields are required Personal Info
  Required Must be a valid email
  Required Passwords must match
  Required
  Required
  Required
  Required
  Required
  Required
  Required

Registered Rep. Magazine

Submit the form for instant access to the page you've requested.

Blogs & Opinion


Get the latest from Registered Rep. Editor-in-Chief David A. Geracioti on his blog Von Aldo.
Get the latest from Registered Rep. Managing Editor Kristen French on her blog The Reformation.

Rep. Newsletters


Sign up for one of Registered Reps. complimentary eNewsletters.

Heard on The Forum

VIEW THE FORUM

Most Popular Stories

The Independent Sourcebook


Profiles and fact sheets of independent broker/dealers and registered investment advisories (RIAs), an outsourcing guide, listings of compliance/regulatory consultants, securities lawyers, recruiters, back-office technology offerings and asset management platform providers.

BROWSE THE DIRECTORY
Registered Rep.'s Business Builder is the one-stop toolkit for growing your business pipeline and achieving your career development goals.

>> Learn more and get started

In This Issue: September 2010

Cover Story

Outgrowing The Series 7

When the 7 becomes more of a burden than a benefit.



View the full issue

Back Issues

browse back issues

Registered Rep. eNewsletters

Subscribe today to get the news you need and information you want from our e-newsletters. To preview the current issue click on the newsletter below. Subscribe Today!