Comments on: FINRA Expels Provident Asset Management Over Fraudulent Private Placements http://www.investorprotection.com/blog/2010/03/26/finra-expels-provident-asset-management-over-fraudulent-private-placements/ Sat, 12 May 2012 07:14:57 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Stan http://www.investorprotection.com/blog/2010/03/26/finra-expels-provident-asset-management-over-fraudulent-private-placements/#comment-14060 Stan Sat, 27 Mar 2010 20:35:15 +0000 http://www.investorprotection.com/blog/?p=745#comment-14060 It si good to see regulators taking action against the financial predators. Unfortunately we seem to have a corporate culture in Canada that fosters fraud and wrongdoing. The Fiduciary Standards Conference at the OBA was quite refreshing to hear so many pronounce on the side of establishing fiduciary responsibility for all those who manufacture, distribute or sell fiancial products. It is not just the unregulated who defruad investors, and the losses from investment industry fraud and wrongdoing amounts to tens of billions of dollars every year. Legislation is needed that requires financial predatiors to disgorge profits and pay full restitution and damages. Until the perpetrators are held fully accountable, there will be little change. It si good to see regulators taking action against the financial predators. Unfortunately we seem to have a corporate culture in Canada that fosters fraud and wrongdoing.

The Fiduciary Standards Conference at the OBA was quite refreshing to hear so many pronounce on the side of establishing fiduciary responsibility for all those who manufacture, distribute or sell fiancial products.

It is not just the unregulated who defruad investors, and the losses from investment industry fraud and wrongdoing amounts to tens of billions of dollars every year.

Legislation is needed that requires financial predatiors to disgorge profits and pay full restitution and damages.

Until the perpetrators are held fully accountable, there will be little change.

]]>