Entries by Harry Lew

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When Regulatory Enforcement Is Down, Tout Your Ethics Advantage

Let’s connect the dots, shall we? First, FINRA fines are on a downward slope in 2017. Second, rogue brokers are taking refuge at a number of suspect broker-dealers, apparently immune from company discipline. Third, state securities administrator enforcement actions have decreased in recent years. What picture do these dots portray? Of a financial-services industry that […]

Real Estate E&O Claim Prevention: Major Risks and Strategies

How to Protect Yourself against Client Lawsuits Real estate professionals are one transaction away from getting hit with a professional liability lawsuit. Always a risky business, selling real estate became even riskier after the 2007/2008 economic melt down, the impact of which is still being felt almost a decade later. But there’s good news: the […]

Rogue Advisors on Parade: Pension Parasite, Uncharitable Charity Thief, Identity Fraudster

A New Jersey investment advisor has been sentenced to just over three years in prison for sucking a factory worker’s pension dry. According to U.S. Attorney William E. Fitzpatrick, Jessee Holovacko, 39, will serve 37 months in jail for stripping a client’s pension fund of its assets and using the money for his own purposes. After conducting a workplace investment seminar, the advisor signed up the employee as a client, persuading him to roll over his entire retirement portfolio to an IRA