When it comes to investing, you must find a financial advisor who is honest and has your best interests at heart. Unfortunately, while the vast majority of brokers and financial advisors work hard for their clients, that is not always the case. Investment fraud is a real problem, and you could suffer a devastating financial loss if you fail to recognize the warning signs. Whether you are already working with an advisor or still looking...
The SEC recently approved new FINRA rules designed to protect seniors from financial elder abuse. Beginning February 2018 brokerage firms will be allowed to place a temporary hold on a disbursement of funds or securities when the firm has a reasonable belief of potential financial exploitation. Firms also will be required to take reasonable efforts to include the name and contact information for a trusted contact person on a customer’s account. Purpose of the FINRA Rule...
The Securities and Exchange Commission ("SEC") recently announced it had imposed monetary penalties on thirteen investment advisory firms. The SEC concluded the thirteen firms failed to conduct due diligence to determine the veracity of false claims made by an investment management firm before the firms began recommending the investment to their own clients. The enforcement action concerned claims made by F-Squared Investments ("F-Squared"). F-Squared claimed its "AlphaSector" strategy for investing in exchange-traded funds ("ETF") had outperformed...