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Wealth Professional | 09 Dec 2013, 03:05 AM Agree 0
Pair is charged with unregistered trading after allegedly selling syndicated mortgages to investors.
  • Bob white | 09 Dec 2013, 09:24 PM Agree 0
    A prime example of need for a tough principle based orginization of professional advisors.

    In the old days of LUAC ( now advocis) an advisor would have reported these people a long time earlier as some one would have farretted them out via a client and they would be gone.

    A point that banning commission based fees will not cure bad people from opperating this way. The solution is a simgle praticing proffessional body that any person dealing in financail products has to belong to, and then the regulator advertises that if the person sell some thing to you or marketing services must have the credentials on the business card they offer and must be in a national data base. so simple, client can look them up on the net, and if they are not htere, do not do business with them, report them to the authorities.

    Yep, rules wwill always be a work around. these two worked around, and how many did they sell to before caught, and who was harmed, and how much did they make,?

    Just my thoughts.

    Cheers

    bob
  • Bob white | 09 Dec 2013, 09:24 PM Agree 0
    A prime example of need for a tough principle based orginization of professional advisors.

    In the old days of LUAC ( now advocis) an advisor would have reported these people a long time earlier as some one would have farretted them out via a client and they would be gone.

    A point that banning commission based fees will not cure bad people from opperating this way. The solution is a simgle praticing proffessional body that any person dealing in financail products has to belong to, and then the regulator advertises that if the person sell some thing to you or marketing services must have the credentials on the business card they offer and must be in a national data base. so simple, client can look them up on the net, and if they are not htere, do not do business with them, report them to the authorities.

    Yep, rules wwill always be a work around. these two worked around, and how many did they sell to before caught, and who was harmed, and how much did they make,?

    Just my thoughts.

    Cheers

    bob
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