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Wealth Professional | 05 Mar 2015, 03:36 PM Agree 0
Investors thinking they were buying into the foreign currency exchange market got something altogether different resulting in serious losses and providing another reason why advisors are worth retaining.
  • Peter | 05 Mar 2015, 04:05 PM Agree 0
    No matter how much compliance there is and no matter how many regulatory bodies police the industry, if there is no honesty, integrity, and fiduciary duty, schemes like this will always rear its ugly head.
  • Niki | 05 Mar 2015, 05:11 PM Agree 0
    Appears they were not registered. Someone does something illegal and then the system adds more accountabililty to those who are doing things legally and properly.
  • Peter | 05 Mar 2015, 05:18 PM Agree 0
    Totally agree with you Niki. When I started in this business over 30 years ago, there was no such thing as compliance. And there were less "scams and schemes" that there are today. Either you are an ethical advisor or you are not.
  • Bea | 06 Mar 2015, 07:00 AM Agree 0
    I agree with Peter that the question is whether you are ethical or not, and I agree with Niki that the result of things like this is just more regulation for the firms behaving ethically and of course through them there are increased costs to the investors that do check their regulation. I am frustrated that adding a fiduciary duty will just be more words and cost for the good and it certainly wouldn't catch this case. WP - it would help if your titles could perhaps say "Ponzi by unregulated"... because the tar sticks with impunity to the good too?
  • frank | 17 Jul 2016, 06:18 PM Agree 0
    Peter or you the same one( peter Balazs )?
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