FINRA Shows Regulatory Hand: Brokers, Pay Heed or Watch Out! One of the benefits of working in financial services is that regulatory agencies are usually transparent about their concerns. They communicate well in advance when they’re about to crack down on something, giving agents, advisors, and brokers more than enough time to respond. FINRA is […]
A Contrarian View: Top Ten Reasons NOT to Buy E&O Insurance On most days, you’re likely to hear us speak of the benefits of owning E&O insurance. But today, we’d like to take a contrarian (and somewhat lighthearted) view. To that end, here are 10 reasons why financial professionals should avoid buying E&O insurance. Ready? […]
Scheming Brothers, Hedge Fund Phoney, Accelerated Benefit Scammer A former Morgan Stanley financial advisor was sentenced to two years in federal prison and three years of supervised release for defrauding a widowed client. The U.S. Attorney’s Office for the District of Oregon said that Gregory Walsh, a former Morgan Stanley Vice President, convinced the client […]
Federally licensed investment advisors often grouse about the heavy hand of government regulation. But the good news is the Securities and Exchange Commission each year gives its licensees a heads up in terms of its enforcement priorities. If you pay attention, an SEC action should never take you by surprise. To that end, the agency […]