Barred from the Securities

I just found one for Canada: http://www.bcsc.bc.ca/disciplined_person.asp?id=1463

As for the US, I believe it comes under Regulation of Markets under the SEC. Here is a list of exchange delistings, don't know how complete it is, but it's directly from the SEC: http://www.sec.gov/rules/delist.shtml

Thank you Jespah.

The Canadian list (actually only British Columbia) is organized by the individual barred, which would be very helpful if it were for the United States not one province in Canada.

The SEC list is comprised of companies delisted not individuals barred. I think that typically the barred individual worked for a broker-dealer (e.g., Merrill Lynch) where he or she was using illegal tactics to sell shares in a publicly traded company. So the delisted company would not even have employed the barred individual and he or she would not likely be included in the SEC list.

Barring people from the securities industry...
What is the point of barring people while hiding information?

There is none.

Free markets are regulated by competition. Laws exist to protect property and contracts, etc. If a person violates the law, he will pay a price depending on the nature of the violation, but upon paying the appropriate penalty, can return to society and participate again.

The regulated markets, on the other hand, are not related to what we understand as natural, or contract law. The regulatory body has near dictatorial hegemony once it has been legislated into existence by congress. It's existence is due to State compulsion, not voluntary association. Like many forms of power, it is answerable to very few and in very indirect ways.

The SEC can do what they want and largely get away with it because their is no counter balance of power to check its abuses.

In our democracy, we create an entity to supposedly enforce a rule of law while being exempt from it itself. The error is in thinking that Government can regulate industry without needing regulation itself. The solution is to let market competition and the principles of buyer beware govern themselves.

Re: Barred from the Securities


You don't need to check a list of who has been barred. To sell any type of securities in the U.S. you have to have a license (Series 6, Series 7, etc..). If they've done something that violates the law they get their license pulled. To check, all you have to do is ask to see their license and then check it and make sure it is current.

The National Assoc. of Securities Brokers does have a WWW site where you can verify any licensed securities professional in any state.
http://www.nasd.com/web/idcplg?IdcService=SS_GET_PAGE&nodeId=469&ssSourceNodeId=13

(i.e. if they have their license they haven't been barred - sort of the opposite of what you were looking for but...)