WASHINGTON, DC - In an effort to protect investors and the integrity of the Financial Industry Regulatory Authority's (FINRA) BrokerCheck program, U.S. Senators Jack Reed (D-RI) and Chuck Grassley (R-IA) today sent a bipartisan letter asking FINRA to clarify and strengthen standards for expungement of investor complaints against brokers.
Citing a recent Public Investors Arbitration Bar Association (PIABA) study, which found that FINRA arbitrators granted expungement relief in 96.9% of cases from May 2009 through December 2011, the U.S. Senators said they are concerned about the number of times investor complaints may be expunged, or removed, from publicly available broker records maintained by FINRA via BrokerCheck.
The Senators wrote: "We share FINRA's view that 'expungement is an extraordinary remedy that should be granted only under appropriate circumstances,' and that it should be permitted 'only when it has no meaningful investor protection or regulatory value.' However, we believe that meaningful investor protection includes the disclosure of whether a customer dispute was settled.   Not just for transparency sake, but also to help prospective investors make informed decisions about which individuals or firms with whom to do business."
In an effort to determine if the high percentage of expungements are warranted, the Senators asked FINRA to publicly detail the number of instances in which FINRA has questioned or challenged the provision of expungement relief and provide a detailed description of the circumstances of each case.  The Senators also asked FINRA to respond to the recommended changes cited in the PIABA study and explain whether FINRA intends to adopt each recommendation.
Full text of the letter follows (PDF attached):
December 16, 2013
Mr. Richard G. Ketchum
Chairman and Chief Executive Officer
Financial Industry Regulatory Authority
1735 K Street, NW
Washington, DC 20006
Dear Mr. Ketchum:
Given our interest in improving transparency of our financial markets, we are writing in response to a recent Public Investors Arbitration Bar Association (PIABA) study, which raises concerns about the number of times investor complaints may be expunged, or removed, from publicly available broker records maintained by the Financial Industry Regulatory Authority (FINRA).
FINRA provides information to investors through BrokerCheck, which FINRA believes, "should be the first resource investors turn to when choosing whether to do business or continue to do business with a particular firm or individual."  However, as the PIABA study indicates, this system may not enable investors to easily obtain all the information necessary to determine whether to hire a particular FINRA registered broker.  According to the PIABA study, expungement relief was granted in 96.9% of cases from May 2009 through December 2011.
We share FINRA's view that "expungement is an extraordinary remedy that should be granted only under appropriate circumstances," and that it should be permitted "only when it has no meaningful investor protection or regulatory value."  However, we believe that meaningful investor protection includes the disclosure of whether a customer dispute was settled.   Not just for transparency sake, but also to help prospective investors make informed decisions about which individuals or firms with whom to do business.
Given our interest in fair financial markets and transparency, we request that you provide a response to each of the five recommendations cited in the PIABA study and explain whether and why or why not FINRA intends to adopt each recommendation.  Additionally, please provide:
1.         The number of instances in which FINRA has questioned or challenged the provision of expungement relief and a detailed description of the circumstances of each case.
2.         Any draft legislative language that would be necessary to provide FINRA with the authority to ensure that expungment relief is provided "only when it has no meaningful investor protection or regulatory value," if you do not believe such authority already exists.
Please provide a response by January 6, 2014.  Thank you for your attention to this important matter.
Sincerely,
Jack Reed                          
Charles E. Grassley

Wednesday December 18th at 7 - 8pm, Healing Lotus Acupuncture will be premiering the first of many online presentations focusing on such topics as: health conditions, Eastern medicine, and nutrition.  These free presentations will be featured on the Healing Lotus website (www.HealingLotus.co), and will occur regularly throughout the month.

Wednesday's presentation will cover the topic of hyperlipidemia (high cholesterol), which continues to be a highly mediatized subject; as seen in November with the updated guidelines for cholesterol management.

In this web presentation Scott Stewart, LAc., Dipl. will be explaining the truth about cholesterol, and the misunderstanding of "good" vs. "bad" cholesterol.  You will learn about the dangers of having a cholesterol count that is too low, which can lead to other diseases; the adverse effects of statin drugs, and how the pharmaceutical industry influences the guidelines for cholesterol; how Eastern medicine views hyperlipidemia; and how you can safely manage hyperlipidemia without taking a drug for the rest of your life.

After the presentation there will be an open forum set up for any questions people have.

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Ft. Madison, IA - Congressman Dave Loebsack released the following statement today at the event to commemorate the largest wind expansion in Iowa's history by Siemens and MidAmerican Energy. The event highlighted the impact of the job creation from the expansion project and economic benefits wind energy brings to local communities around the country. Congressman Loebsack was joined by Governor Terry Branstad, Lt. Governor Kim Reynolds, MidAmerican Energy CEO Bill Fehrman and Siemens Energy CEO Mark Albanze.

"I am thrilled with today's announcement by Siemens and MidAmerican that Iowa will expand its leadership in wind energy production. This announcement means jobs for our highly skilled workforce, and demonstrates the continued strengthening and competitiveness of Iowa manufacturing. It also means continuing investment in Iowa's clean energy infrastructure. This is what encouraging our homegrown energy and the Production Tax Credit are all about - jobs and clean, renewable energy sources."

While at the event, Congressman Loebsack also reiterated his call for Congress to renew the Production Tax Credit (PTC) for wind energy that is set to expire at the end of the year. Loebsack has long supported wind energy production and led the way in the House to renew the PTC. Last year he was named a USA Wind Champion by the American Wind Energy Association.

"It's utterly unacceptable that the House packed up and left town for the holidays without extending the PTC, which is why I pushed to keep Congress in session and working. I will continue to fight to get the PTC extended as soon as possible. Despite the complete dysfunction in Washington, I'm hopeful Congress can come to an agreement. As we witnessed today, here in Iowa, the PTC isn't a partisan issue."

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MOLINE/QUAD CITIES December 16, 2013 – Allegiant has partnered with the Quad City International Airport and Hy-Vee to hold a toy and gift card drive to support efforts for Make-A-Wish® Illinois. The toy and gift card drive will be held on Friday, December 20, 2013, at the Hy-Vee in Moline, located at 7th Street & John Deere Expressway. 

A representative will be available from 10:00 a.m. - 2:00 p.m.

The drive is taking place in hopes of receiving new, unwrapped toys or gift card (to any major retailer.) Allegiant is a national corporate partner of Make-A-Wish® .   In the Quad Cities, Allegiant has supported approximately 6 travel wishes within the last year, and sixty nine travel wishes nationwide.  Allegiant is offering a chance to win tickets for two to your favorite vacation destination as offered out of the Quad City International Airport.  The winner will be randomly drawn at the conclusion of the event, and you need not be present to win.

Hy-Vee stores are generous supporters of Make-A-Wish®.  Just this year, Quad City Hy-Vee stores donated more than $16,000 to Make-A-Wish® of Iowa and Make-A-Wish® Illinois and helped to grant the wishes of two area children.

Make-A-Wish® Illinois grants the wishes of children with life-threatening medical conditions to enrich their lives with hope, strength, and joy.  Since being founded locally in 1985, the chapter has granted more than 11,000 wishes and continues its mission to share the power of a wish® with special children across the state.

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Davenport, IA: Stuff Etc, located at 3568 N. Brady St. is holding a donation drive this week for the local non-profit organization, King's Harvest.

King's Harvest is a shelter serving the homeless and others in downtown Davenport. The shelter is running short on new toys to distribute at their annual Christmas party for the homeless this coming weekend. Stuff Etc is stepping in to help out King's Harvest this holiday season by setting up a donation box at their store and spreading the word on their social media outlets on how people can help. King's Harvest needs to meet the needs of more than 250 local families that would otherwise not be able to provide gifts for their children this Christmas. People are encouraged to donate new, packaged toys at their local Stuff Etc in Davenport.

"We have a very short window in which to collect these items for King's Harvest," says Jesse Simpson, store manager at Stuff Etc. "We need to get the word out as quickly as possible and are relying on the generosity of Quad Cities residents to fill this need."

Stuff Etc will be accepting donations until this Thursday, December 19th To show their appreciation and help drive participation, Stuff Etc will offer a 20% off one item coupon for each person who brings in a new, packaged toy for donation.

Stuff Etc. is the largest consignment store in Iowa, with stores in Waterloo, Cedar Rapids, Coralville, Iowa City, Davenport and Ankeny. Known for their quality and variety, they work with more than 70,000 consignors to provide a truly unique local buying experience.

It is time to vote for Annual Awards for 2013 and for Board Members for the LeClaire Chamber of Commerce!  All 2013 Chamber members are invited to go to www.leclairechamber.com to complete ballots.  The deadline to vote is December 23, 2013, 5:00 p.m.  The Award Winners for 2013 will be announced, and the Board will be introduced at the Annual Dinner, February 1, 2014, Davenport Country Club.  Invitations and the Announcement with details for the Annual Dinner will be out soon!
Thank you for your membership and for participating in voting!

Lagomarcino's Big Check to Boys & Girls Clubs

The Lagomarcino's Cocoa Beano 5K Hot Chocolate Run, held in Moline, raised $9,000 for the Boys & Girls Clubs of the Mississippi Valley. 

IA/IL QUAD CITIES - Steve Howard, 52, is a single grandfather who has adopted and is raising his five grandchildren. He takes pride in his grandkids and encourages their interests. And like any good parent, he wants his children to be able to spend time with friends in a safe social setting. For Steve's kids, the Boys and Girls Club is a place that fills that vital role.
Steve's five grandchildren live with him in his Davenport home: four granddaughters, Fantayshia, 14; Eunesheah, 12; Timeah, 11; and Timeka, 10, and one grandson, Brandon, 13.
"I don't want the kids in the house more than I am, just watching TV," Steve said. "The Boys & Girls Club is a safe place with supervision where the kids can go right after school. When I'm at work, it's good to know they are at the Club, learning among their friends."
Steve Howard was born in Hannibal, Missouri, and raised in Peoria, Illinois. When circumstances made it necessary for the children to have a new home, Steve and his wife welcomed all five into their lives. When Steve and his wife divorced two years later, he continued to raise the children by himself. He has been doing it for ten years and along the way, he adopted them. "I've been raising the youngest since she was six months old," he said.
All five children are members of the Lutheran church. The oldest, Fantayshia, attended a National Lutheran Youth Convention this summer. All of Steve's children have their own unique interests. Eunesheah plays the clarinet and piano. Timeka plays violin and sings in the chorus. Timeah enjoys Lego Robotics and plays the trumpet. Fantayshia is in her school's Drama Club and Brandon is into basketball. "It's important that they pursue interests they like," Steve said. "They get good grades and their interests really keep them focused."
Steve's grandchildren have all attended the Boys & Girls Club's Davenport Club, located in the First Presbyterian Church on Iowa Street. Steve sees the Davenport Club as a valuable addition to their formal education. "The Club provides scheduled, organized activities," he said. "They can play games, work on the computers there, and even get help with their homework."
Steve noted that his family is only one of many in the community that benefit from the Boys & Girls Clubs of the Mississippi Valley. "I know a lot of the other families in the area whose children go to the Club," he said. "Most people don't realize how many families are helped by the Club. There are hundreds and they are all very grateful."
A Look Back at 2013
According to Tim Tolliver, Chief Professional Officer of the Boys & Girls Clubs of the Mississippi Valley, 2013 was a busy year for their organization. "We maintain a regular schedule of fundraising events to help meet the needs of young people, like Steve Howard's kids and many others," Tim said.
Tim noted that the efforts of the Boys & Girls Clubs of the Mississippi Valley help many families having difficulty making ends meet. "Across the Quad-Cities, there are young people who don't always have enough to eat," he said. "Many have no one to greet them when they come home from school. Some have no idea what the future holds for them, so they turn to gangs or crime, hoping to find answers there. These young people need more options for their future. They need the support and guidance of the Boys & Girls Clubs."
This year's fundraising events started with the 2013 Golf Outing in July at Short Hills Country Club in East Moline. "The support of Group O and all our other sponsors make this year's event a real success," Tim said.
In September, the Boys & Girls Clubs of the Mississippi Valley held a ribbon-cutting for The Club, a new Teen Center located in the Floreciente neighborhood at 1122 5th Ave., Moline, and celebrated with two days of public events, including a Reception and a special Day for Kids. "The ribbon-cutting was a memorable event for the community and our organization," Tim said. "It represented the culmination of years of hard work and planning."
The Lagomarcino's Cocoa Beano 5K Hot Chocolate Run, held in Moline this October also proved successful, raising $9,000 for the Boys & Girls Clubs of the Mississippi Valley. "We had an awesome course and sunny skies," Tim said, "as well as hot chocolate and Lago's famous Turtle candy at the finish line. A big 'Thank you!' goes to the Lagomarcino family for sponsoring several of our Club members who participated in their first 5K race through the 'Race For Great Futures' initiative. The money provided by Lagomarcino's is greatly appreciated."
At the 2013 Steak & Burger Dinner, held in November at the iWireless Center in Moline, key volunteers were recognized for the assistance they provide to the Boys & Girls Clubs. "We appreciate the time and skills our faithful volunteers provide," Tim said. "They make it possible for us to meet many of our objectives while staying within our budget."
Tim stated that the Boys & Girls Clubs of the Mississippi Valley is deeply appreciative of the time, funds and support provided by the community. "We thank everyone for their help," Tim said, "and we hope the community will continue to remember the Boys & Girls Clubs as they consider their options for charitable giving this holiday season. The membership fees for the Davenport and Moline Clubs are $12 per year, and the fee for the Teen Center in Moline is $25 per year, but no child has ever been turned away because of a lack of funds. Also, those membership fees do not cover the majority of expenses. The actual cost of helping one child for a year is about $1,000. When you give to the Boys & Girls Clubs of the Mississippi Valley, you are investing in the future of the Quad-Cities."
The Boys & Girls Clubs of the Mississippi Valley, as a chartered member of Boys and Girls Clubs of America, is a tax-exempt organization, duly qualified under Section 501(c)(3) of the Internal Revenue Code, and contributions are tax-deductible in accordance with Federal law.
For more information on the Boys & Girls Clubs of the Mississippi Valley, please call (309) 757-5777 or visit www.bgcmv.org.
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SPRINGFIELD, IL (12/16/2013)(readMedia)-- On Dec.15, 303 cadets graduated from Lincoln's ChalleNGe Academy (LCA), an Illinois National Guard administered program for at-risk youth. The ceremony for the Rantoul-based program was held at the Prairie Capital Convention Center in Springfield, Ill.

LCA, which celebrated its 20th anniversary in July, is one of the most successful youth challenge programs in the nation. Approximately 75 percent of LCA graduates earn their graduate equivalency diplomas, compared to the Illinois state average of 53 percent. LCA graduates can now return to their communities and demonstrate the success of this "second chance program." Lincoln's ChalleNGe consists of a 22-week residential phase conducted in a quasi-military environment followed by a 12-month post-residential phase when the cadets return to their communities.

Since 1993, 13,694 cadets have graduated the program.

For high resolution photos, please contact the Illinois National Guard Public Affairs Office at ng.il.ilarng.list.staff-pao@mail.mil or 217-761-3569.

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www.facebook.com/illinoisnationalguard

Todd J. Leparski was sentenced to 60 months in federal prison to be followed by three years of supervised release, and pay restitution to IDES in the amount of $298,218.

IDES brought the case to the US Attorney General for the Northern District of Illinois, and was just made aware that sentencing occurred last week.

IDES Director Rowell said: "Stealing unemployment insurance benefits is not a victimless crime. It hurts every honest taxpayer, worker and business owner in our state," IDES Director Jay Rowell said. "Recovering stolen money and fighting waste, fraud and abuse shows that we take seriously our role in leveling the playing field and growing Illinois' economy."

RAPID CITY, S.D. (December 14, 2013) - Sean Erickson, Konrad Reeder and Scott Wray provided a goal and an assist apiece as the the host Rapid City Rush defeated the Quad City Mallards 5-1 Saturday night and ended the Mallards' ten-game (6-0-4) regulation unbeaten streak.

The Rush never looked back after ripping off the game's first three goals. Scott Brannon opened the scoring in a goalmouth scramble at 8:57 of the first period. The Rush lead stretched to 2-0 when Erickson drove the puck home from the right point at 15:52 of the first.

At 8:32 of the second period Reeder buried a rebound to give Rapid City a 3-0 advantage. The Mallards got on the scoreboard for the first time with Matt Duffy's blast from the right point at 15:33 of the second.

5:15 into the third period Eric Giosa reestablished the three goal Rapid City lead by pumping the rebound into the gaping net after Reeder hit the goal post. Wray capped off the evening by scoring from point blank range at 15:18 of the third.

With the win, the Rush earned a split of their two-game weekend series with the Mallards, who Friday night scored a 2-0 victory in Rapid City.

The Mallards return to action next Wednesday night against the Chill in St. Charles. The Mallards next play at home next Saturday at 7:05 p.m. against the St. Charles Chill. The first 1,000 fans through the doors for that game will receive free Mallards knit caps courtesy of CBS 4 and Bierstube.

Tickets for next Saturday's tilt and all Mallards regular season home games can be purchased at the iWireless Center ticket office, Ticketmaster outlets, through ticketmaster.com or through Ticketmaster charge-by-phone toll free at 1-800-745-3000.  The ticket office is open weekdays from 10:00 a.m. to 5:30 p.m., on Saturdays from 10 a.m. to 2:00 p.m. and on game days from 10:00 a.m. until the start of the second period.

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