Combating Elder Abuse Requires More Than Raising Awareness
NASAA is drafting model legislation to address how broker-dealers and advisors should respond when they suspect or detect senior financial exploitation.
Home Security Cameras: ‘Gotcha Cams’ Deter or Detect Crimes, at a Cost
The market for “pinhole” video cameras is booming, but high-net-worth families should know the disconcerting legal consequences for their improper use.
SEC, FINRA Enforcement: Compliance Director Charged With Bilking Clients
The SEC also charged a New York securities lawyer with running pump-and-dump schemes out of his office.
On Wall Street, if You Earn More You Cheat More, Study Finds
More than a third of the highest paid financial professionals have firsthand knowledge of wrongdoing, and many say compensation plans incentivize lawbreaking, the study found.
Fighting Financial Exploitation of Seniors
Senators, SEC Investor Advocate Rick Fleming and NASAA ponder whether new laws and programs could make it easier to report financial abuse.
Morgan Stanley Fires Employee Accused of Stealing Client Data
Morgan Stanley fired an employee it said stole data, including account numbers, for as many as 350,000 wealth management clients.
Saving Exploited Elders
Every day at least 1,000 elderly Americans are financially exploited or abused.
SEC Plans to Hand Out Whopping $30 Million Whistleblower Award
The SEC expects to award a whistleblower more than $30 million for providing key original information that led to a successful enforcement action.
Treasury’s Crime Unit Floats New Customer ID Rules for BDs, Mutual Funds
Meanwhile, FinCEN continues to work with the SEC on anti-money laundering rules for advisors.
Free Financial Advice? What Could Be Better for Consumers?
Excising the requirement that professionals act in clients’ best interests would make society much more efficient, and save the Treasury billions!