The Derivative Project

FINRA

DOL and New Fiduciary Duty – What’s Changed?  Nada

DOL and New Fiduciary Duty – What’s Changed? Nada

FINRA and Disputing “Chasing Windmills” With over $14 billion in retirement accounts, Wall Street (the SEC’s FINRA) is charged with protecting IRA investors, from sales personnel steering their retirement assets into inappropriate products and/or high fee products and enforcing all securities laws, passed by Congress. The financial services industry inappropriately labeled sales…

Consumer Federation’s “Oath” Hides IRA True Legal Transparency

Consumer Federation’s “Oath” Hides IRA True Legal Transparency

Is Consumer Federation of America Using Social Media, Twitter, to Fight True Fiduciary Legal Transparency? Washington DC Advocate Better Markets, tweeted yesterday,  “The Document that You Should Insist that Your Advisor Sign”.  by Micah Hauptman, Financial Services Counsel for the Consumer Federation of America, a December 15, 2015 Opinion “Blog” at…

This Schwab Ad Epitomizes the Disingenuous Advice Industry: Buyer Beware

Charles Schwab was once a leader in doing what is right—a low cost leader – a pioneer in discount commissions.  They are still an excellent custodian and their online tools are top notch. However when Schwab moved into “packaging product” and became the purveyors of “advice” to the retirement industry, they…

Book Review: Larry Doyle’s In Bed with Wall Street: A Must Read, a “Book that Matters”

While many have grown so tired with the hashing and re-hashing of why our systems failed us in the 2008 and 2009 financial crisis, Larry Doyle’s new book, released today, In Bed with Wall Street – The conspiracy crippling our global economy– should be read, shared and discussed, not just by…

Academic Study Reveals Billions of Dollars Wasted on Worthless Investment Advice

The Financial Times reported in a September 21 article that a recent Oxford study revealed billions of dollars were wasted on investment advice that did not increase performance.  The article stated: “The Oxford team found these flows, and the fact that consultants tended to recommend larger funds in the first…

With Budget Crisis Looming, Here is an Easy $6.5 Billion to Tap to Help Those that Need Food Stamps

The Financial Times reports today (subscription required) “CFTC chair Gary Gensler warns on fund cuts to police derivatives”: “Mr Gensler’s plea for more money is a standard regulator’s lament and one that he personally has made many times over the past two years. But it comes as Congress must approve…

FINRA Survey Identifies Rampant Fraud by “Advisors”: SEC, FINRA – Look In the Mirror

The FINRA Investor Education Foundation released a September 2013 study, Financial Fraud and Susceptibility in the United States, on rampant fraud in the retail investment arena, where 1 in 4 retail investors have been subject to fraud.  The executive summary of this survey states: 1. The ubiquity of fraud solicitations, coupled…

Why the Debate on Fiduciary Duty is Meaningless without End to Mandatory Arbitration

Congress, the Department of Labor and the SEC are all fiercely debating if a stockbroker should act in the best interest of a retirement saver.  Based on current contract agreements an individual retirement investor signs when he opens up an IRA, any claims for losses in their IRA are subject…