Posted by: bj | September 22, 2011

Investment Banker Fined $15,000 for hiring too many Employees

September 13, 2011  –  Peter Schiff, President of Euro Pacific Capital, testifies to the U S House of Representatives “Oversight and Reform” Committee. 

Peter Schiff, President of Euro Pacific Capital was fined  $15,000 by FINRA for hiring too many employees.  So far he says his legal bills dealing with this issue have cost him over $500,000 and he has  had to create a “Compliance Department”  to respond to “Regulators” which costs him millions of dollars per year.

http://mrctv.org/blog/ceo-congress-i-was-fined-because-i-hired-too-many-people

Media Matters, a Progressive political media watchdog, funded by leftist organizations like “Moveon.org, The New Democratic Network and George Soros, says that FINRA is a “private – self-regulating organization”, not a government entity; and therefore Obama and the liberals are not at fault for preventing Euro Pacific Capital from hiring new employees.  This is non sense.

FINRA previously was the National Association of Securities Dealers, (NASD), and the US  government requires that all brokers be a member of FINRA; and FINRA must enforce most  of the REGULATIONS that come from Washington D C.   Thus, the Obama administration, Chris Dodd and Barney Frank  are directly responsible for the regulations that are stifling  job growth and the U S economy.

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