Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Tuesday, June 22, 2010

FINRA Tells Jesup & Lamont to Shut Down Brokerage Firm

FINRA said that retail securities firm Jesup & Lamont Securities Corp. is out of compliance with net capital rules and ordered it to cease business.  J&L disputes the finding.  InvNews, 300 reps in limbo as Jesup & Lamont Securities slips below net-cap requirements. 

Investment News also has a timeline of broker-dealer firms that have shut down recently and reports that in 2005 there were 5111 broker-dealers registered with FINRA, compared with 4693 today, an 8.2% decline.

http://lawprofessors.typepad.com/securities/2010/06/finra-tells-jesup-lamont-to-shut-down-brokerage-firm.html

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Comments

I have restricted and unrestricted stock with Jesup and Lamont. I cant contact anyone at the company to transfer stock.

Is there a number I can call
Adam

Posted by: Adam | Aug 20, 2010 9:30:52 AM

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