Wealth Professional forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Notify me of new replies via email
Wealth Professional | 25 Feb 2015, 10:30 AM Agree 0
You’ve all been there. Too much to do and so little time. Shortcuts are something the MFDA have shown zero tolerance for.
  • Ken MacCoy, CHS | 04 May 2015, 09:44 PM Agree 0

    Am interested to know if the MFDA were able to collect:

    (1) the $5,000 fine & costs of $2,500 imposed on Jarnail Kahlon, and/or

    (2) the $25,000 fine & costs of $7,500 imposed on Edward S. Brown.

    If the MFDA can't collect the fines & costs, them logic dictates the costs are borne by the membership and in turn by the advisors in the form of increased costs.

    The MFDA seems similar to The Senate: a good idea in principle, but in practice ... hard to justify the costs to maintain their existence.
  • Will Ashworth | 05 May 2015, 09:55 AM Agree 0
    That's a good point, Ken. Considering the MFDA collects about 2% of fines imposed on advisors no longer registered it's likely they haven't collected on those two cases.
Post a reply