In re Cossu, 410 F.3d 591 (9th Cir. 2005)
Jefferson Pilot Securities filed a claim in the bankruptcy proceeding of Claude Cossu, one of its former broker-dealers, who had failed to report his outside business activities to Jefferson Pilot (for which he was an NASD-registered representative). Cossu was aware that under NASD guidelines, he was not permitted to engage in private securities transactions without