Our Financial Oligarchy; Emperors of a Brave New World
They own the regulators; they own the brokerage houses; they own the clearing houses; they own all of your investments; and it’s even been shown that they can exert complete control over the government.
To understand how these banks exert complete control over our financial system, one must first understand the securities clearance system.
In the United States of America, there is only one central clearinghouse: The Depository Trust and Clearing Corporation, and for almost 50 years they have maintained a virtual monopoly over this essential service.
It is a private corporation that is owned by these mega-banks and brokers.
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PDF (470 Pages): Our Financial Oligarchy Back-Up
Sage Kelly is a Senior Managing Director and Head of Investment Banking at Cantor Fitzgerald. Mr. Kelly has over 20 years of experience in investment banking, most recently serving as the Head of Healthcare Investment Banking at Jefferies from 2009 to 2015. Prior to Jefferies, Mr. Kelly served as a Managing Director at UBS where he worked from 1999-2009, and at Salomon Smith Barney in the Healthcare Investment Banking Group from 1994-1999. Mr. Kelly graduated from Boston College with a bachelor’s degree in chemistry, finance, and economics.
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Jefferies Execution Services, Inc. Fined by FINRA
An AWC was issued in which the firm was censured and fined $215,000, of which $18,800 is payable to FINRA and the remaining will be paid to other various self-regulatory organizations. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it did not establish, maintain and enforce a supervisory system or WSPs reasonably designed to monitor for potential layering or spoofing by its direct market access clients.
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