The SEC has upheld a FINRA action against a registered representative charged with unlawful taking of client information when switching broker-dealers.  FINRA found that the respondent violated his “duty to observe high standards of commercial honor and just and equitable principles of trade” (Conduct Rule 2110) by downloading customer information for use at his new firm.  FINRA charged that the taking of the information violated his old firm’s policies as well as Regulation S-P.  SEC rejected several arguments made by the respondent: (i) the 2004 “Protocol for Broker Recruiting” did not give rights to an individual representative to take confidential client information; (ii) his lack of knowledge or bad intent was not relevant nor was lack of any client harm, and (iii) he had no property right to the client data.  The SEC also indicated that focusing on his own self-interest without regard to his client’s rights violated Rule 2110.