Motion for reconsideration, NASD disciplinary appeal
This matter involves a motion for reconsideration of a December 11, 2006, Commission opinion reviewing a NASD Disciplinary action.
The initial commission decision can be found here. The Commission rejected the motion for reconsideration with no explanation other than a cryptic footnote stating that reconsideration is only appropriate to correct manifest errors of law or fact or if there is newly discovered evidence. The Commission does not explain what points the motion raised or why it was deficient in meeting the standard. One would have hoped that the Commission could have provided a more complete explanation to guide practitioners in the future, hence the ipse dixit label.