FINRA Acknowledges Incompetence

By: Jack Waymire | October 2, 2009 | Investor Information

You may not be familiar with FINRA (Financial Industry Regulatory Authority) and its role in protecting investors from bad securities companies, bad financial advisors, and bad investment products.

Like the SEC, FINRA has acknowledged inadequate audit practices that failed to detect the fraudulent business practices of Bernie Madoff and other Ponzi schemes. Like the SEC, FINRA

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Another #Ponzi Scheme unearthed by the SEC. Advisor (Greenberg) placed elderly clients into hedge funds. Pretty sleazy http://ow.ly/2BVmS 2010/09/09

@PyreneesInvest It's so sad especially since more investors don't take the time to ask simple questions towards hiring the right advisor. 2010/09/08

RT @PJSacchetta: "First time I did laundry it took me 3 months: all my clothes were labeled wash separately." Byran Allen Babba Bing! 2010/09/08

RT @megasafemoney: Mixing Golf and Business the Perfect Combination http://bit.ly/chSHsv Never cheat while playing with a client. Not good! 2010/09/06

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Investor Watch Dog is a weblog designed to inform investors about hidden risks when they invest assets based on the recommendations of financial planners, financial advisors, money managers, insurance agents, and investment sales representatives. Some of Wall Street's biggest investment risks result from Ponzi Schemes, investment bubbles, conflicts of interest, bad advice in bear markets, lobbyist activities that promote industry interests, bad investment products, and anti-investor business practices. While some of these risks are worthy of front page headlines, millions of investors assets are much more frequently exposed to less newsworthy but exponentially more harmful investment scams, financial fraud, illegal investment products, bad financial advice, bad investment recommendations, misrepresentation, omission, abuse of trust, deceptive sales practices, and breach of fiduciary duties. The role of Investor Watch Dog is to shine a spotlight on legal and illegal business practices that undermine the financial interests of investors, retirees, business owners, professionals, executives, and other types of consumers who rely on Wall Street and its financial professionals for the advice and services they need to achieve their financial goals.