Death in Roppongi

[Mulboyne]

Kyodo: Foreign male in Roppongi district stabbed to death (http://asia.news.yahoo.com/041202/kyodo/d86nkdpg0.html)
A foreign male was found stabbed in Tokyo's Roppongi district Thursday night and later died, police said early Friday. The police said the man died of multiple stab wounds after being found on the third floor of a building in Minato Ward at around 11:10 p.m. Initial police investigations suggested that the victim was a 34-year-old Asian-American, the police said without elaboration.

EDIT: The police identified the victim as Vietnamese-American Matthew Littauer, who operates a consulting firm

[Taro Toporific]

Kyodo: Foreign male in Roppongi district stabbed to death (http://asia.news.yahoo.com/041202/kyodo/d86nkdpg0.html)
.... The police identified the victim as Vietnamese-American Matthew Littauer, who operates a consulting firm

Ex-Larchmont man stabbed to death in Tokyo.
THE JOURNAL NEWS: December 7, 2004) (http://feeds.bignewsnetwork.com/redir.php?jid=0035da82401f1cae&cat=e8d88d4b9a8be96b)
LARCHMONT ― A 35-year-old businessman, who escaped from Vietnam as a child the day Saigon fell and was adopted by a Larchmont couple, was stabbed to death in an office building in Tokyo late last week.
Matthew Nguyen Littauer was attacked by an unknown assailant shortly before midnight Thursday, according to his sister, Deirdre Littauer, whose parents adopted five children from Vietnam in the 1970s and 1980s. Japanese police have no suspects in the stabbing....
....Littauer is the nephew of Col. Nguyen Be, a former leader in the Army of the Republic of Vietnam who helped organize a U.S.-backed resistance movement known as the Revolutionary Development Program, or "the black pajama program," after the ninja-style clothing worn by its participants.....

[Mulboyne]

ChosunIlbo: Copycat Murder in Japan Seems Based on Korean Movie (http://english.chosun.com/w21data/html/news/200412/200412240038.html)
A murderer who appears to have played out in real life the grisly denouement of the Korean blockbuster movie "Friend" is being hunted by Japanese police, reported the Tokyo Shimbun on Friday. The Japanese Metropolitan Police Department are investigating the death by multiple stabbing of a Vietnamese-American that took place on Dec. 2 at a consulting firm in Tokyo. They said the case was similar to the murder scene at the end of Korea's signature hit movie about friendship and betrayal, according to information published by the Japanese newspaper.
The victim was found in a pool of blood after being stabbed over thirty times. The knife had been discarded 200 meters from the crime scene, its handle wrapped in tape and bandages. This form of wrapping is rarely practiced in Japan, and the ferocity of the attack and other details were similar to the well-known movie scene, reported the Tokyo Shimbun. "Friend," which opened in theaters in 2001, was a huge box-office hit in Korea and was also aired in Japan
IMDB entry for "Friend" (http://www.imdb.com/title/tt0281718/)

[Taro Toporific]

Ex-Larchmont man stabbed to death in Tokyo.
THE JOURNAL NEWS: December 7, 2004) (http://feeds.bignewsnetwork.com/redir.php?jid=0035da82401f1cae&cat=e8d88d4b9a8be96b)
... .Littauer is the nephew of Col. Nguyen Be, a former leader in the Army of the Republic of Vietnam who helped organize a U.S.-backed resistance movement known as the Revolutionary Development Program, or "the black pajama program," after the ninja-style clothing worn by its participants.....

I just received this random anti-Littauer email by a person totally unknown to me, seemingly with an ax to grind. I have NO idea if the details are true, but posting rumors is my hobby. The source seems to be the mysterious, "NASD Investor Education Foundation" and this PDF (http://www.nasd.com/RegulatoryEnforcement/MonthlyDisciplinaryActions/2003Actions/NASDW_007442) .

Matthew Nguyen Littauer (CRD #2027330, Registered
Principal, Central Hong Kong, China) submitted a Letter of
Acceptance, Waiver, and Consent in which he was fined
$20,000 and suspended from association with any NASD
member in any capacity for 30 days. Without admitting or
denying the allegations, Littauer consented to the described
sanctions and to the entry of findings that he allowed a member
firm to open new customer accounts using his representative
number with the firm for public customers whose new accounts
were solicited by persons not registered with the firm. The
findings also stated that Littauer allowed the firm to use his
representative number on transactions for public customers that
were solicited by persons not registered with the firm and who
provided the firm with instructions for the transactions. NASD
also found that the firm did not have written authorization from
the customer that was approved by a principal of the firm,
authorizing the firm to accept the trade authorization from the
unregistered person, and Littauer failed to speak with the
customers about the transactions prior to their execution.
Furthermore, NASD found that Littauer’s actions of allowing the
firm to use his registered representative number in this manner
caused the firm to create and maintain inaccurate books and
records reflecting that Littauer was the registered representative
for the customers who solicited the new accounts and
transactions.
Littauer’s suspension began August 18, 2003, and will
conclude at the close of business September 17, 2003. (NASD
Case #CAF030037)

After a little googling, I also found this totally unsubstantiated claim on RRBDLAW.COM (http://rrbdlaw.com/RegulatoryLinks/CASESOFNOTE/NASD/2003.HTM), which may not be real.

Matthew Nguyen Littauer
(AWC/CAF030037/Sept 2003) Littauer allowed a BD to open new customer accounts using his rep number for customers solicited by individuals not registered with the firm and who also gave instructions for transactions. Firm did not have principal-approved written authorization from the customer and Littauer did not speak with the customer prior to accept the unregistered person's instructions. Finally, the above actions caused the firm to create and maintain inaccurate books and records showing Littauer as to RR who solicited the accounts and transactions.

* Matthew Nguyen Littauer
Fined $20,000; Suspended 30 days in all capacities

[omae mona]

Interesting. It sounds pretty minor as far as violations go (that's why they only shut him down for a month). Basically what this says is that he farmed out some handling of customer accounts to his staff. But he didn't bother to get his staff officially trained and registered with the NASD, instead letting them do work using his registration. The NASD gets a pretty upset about this since it kind of undermines their authority as a self-regulatory organization. And deprives them of valuable registration fee$, too.


Embarrassing, but don't think this in and of itself was anything that might lead somebody to have a grudge against the guy (unless it was a lawyer at the NASD).

[Taro Toporific]

....that might lead somebody to have a grudge against the guy (unless it was a lawyer at the NASD).
So, is this "NASD" legit? Or, it it some kind of shake-down scam?

[omae mona]

So, is this "NASD" legit? Or, it it some kind of shake-down scam?
Both! It's the National Association of Securities Dealers. The Securities Exchange Act of 1934, which created the SEC, stipulates that some regulatory power gets farmed out to non-government agencies. These "self regulatory organizations" (SROs) are responsible for policing their own members. The SEC insists that brokers and brokerages (plus some other types of businesses) are members of at least one of these SROs. The stock exchanges themselves are SROs (like the NYSE), and NASD is another one. I believe almost all brokerages register as NASD members, even when they are also regulated by the NYSE.

As a result, brokerages and brokers are subject to the SEC rules plus, usually, the NASD rules.

[Kuang_Grade]

These sort of infractions are not necessarily common but not exactly uncommon either. Every month (or maybe every week...I mentally tune out the pages when I come across them), the NASD buys 2 or 3 pages of ad space in the one of the back sections of the Wall Street Journal and catalogues all the actions they have taken against brokers...its pretty tiny type, so there are maybe 140-180 actions listed on each page.

[kamome]

Both! It's the National Association of Securities Dealers. The Securities Exchange Act of 1934, which created the SEC, stipulates that some regulatory power gets farmed out to non-government agencies. These "self regulatory organizations" (SROs) are responsible for policing their own members. The SEC insists that brokers and brokerages (plus some other types of businesses) are members of at least one of these SROs. The stock exchanges themselves are SROs (like the NYSE), and NASD is another one. I believe almost all brokerages register as NASD members, even when they are also regulated by the NYSE.

As a result, brokerages and brokers are subject to the SEC rules plus, usually, the NASD rules.

Another SRO is the National Futures Association (NFA), but its membership includes futures commission merchants, introducing brokers, commodity pool operators and commodity trading advisers. The NFA's authority as a recognized SRO stems from the Commodity Exchange Act. I believe there is an overlap in the membership of the NFA and the NASD.