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Quattrone appeals lifetime ban from securities industry

[JURIST] Lawyers for former investment banker Frank Quattrone said Wednesday that Quattrone is appealing his permanent ban from the securities industry [JURIST report]. Last November, the National Association of Securities Dealers [official website] permanently barred Quattrone from working in the securities industry in any capacity for refusing to testify about his possible involvement in document destruction and obstruction of justice while at Credit Suisse First Boston. Quattrone filed an appeal with the Securities and Exchange Commission [official website] claiming the NASD ban is unconstitutional and contrary to federal securities laws. Quattrone's lawyer said Wednesday that "The law requires that the NASD act in accordance with due process rules and the Fifth Amendment [privilege against self-incrimination] is a fundamental right of due process." MarketWatch has more.

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