BROWSE BY TOPIC
Stories of Interest
- Wells Fargo Has Shown Us Its Contemptible Values
- UBS to Counter Trading Troubles With M&A Work
- SEC Moves Quickly To Shut Down Fake Pre-IPO Share Scam
- SEC Testimony: Oversight of the SEC Division of Enforcement
- FINRA Modifies 'Agency Debt Security' in Rule 6710
- Is Jamie Dimon Doing a U-Turn on Bitcoin?
- After New Yorker's Racist Rant Goes Viral, His Law Firm Gets Pummeled with 1-Star Yelp Reviews
- Bill O’Donnell is New CFO at MetLife
- Trump Still Owes Deutsche Bank, Others as Much as $480Mn
- Wells Fargo Scandals Hurt Its Retirement Business
- Michigan State to Pay $500Mn to Victims of Larry Nassar's Abuse
- Top Lawyer at Novartis Leaving Over $1.2Mn Contract with Michael Cohen's Consulting Firm
- Cadwalader Adds Mark Chorazak to its Financial Regulation Practice
- Deutsche Bank: It's A Short According to Eisman of ‘The Big Short’ Fame
- Up In Smoke: Bank of Montreal Goes All-In on Pot Deals
- RBS to Pay $4.9Bn to Settle Toxic MBS Probe with U.S.
- Apple and Goldman Sachs Team Up to Release New Credit Card
- Robinhood, A Stock, Trading App Rejected by 75 Investors, Now Worth $5.6Bn
- Wells Fargo Reportedly Pocketed Fire And Police Department Pension Fund Fee Rebates
- Trading App Robinhood Surpasses E*Trade In User Numbers
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NEWSLETTERS & ALERTS
FINRA CEO Did Not Endorse or Guarantee that Investment
Scam artists, posing as FINRA CEO Robert W. Cook, “guaranteed” fraudulent investments to victims - and had the audacity to put Cook at the helm of the International Monetary Fund instead of FINRA – that, according to the NYPost in an article by John Aidan Byrne.
Imposter scam mailings have gotten so bad and prevalent, that the regulator, itself, recently published an Investor Alert on its web site - Imposter Scams: Don’t Be Fooled By ‘Guarantees’ or Money-Making Pitches from ‘Regulators’. The Investor Alert addresses “advance-fee” scam mailings that seek to entice investors to send money to cover administrative or regulatory charges associated with a buy back of shares of stock that are currently virtually worthless or "underperforming."
Seeking legitimacy, these mailings include the FINRA logo and repeatedly use the word “guarantee” to build credibility and trust. And, of course, they refer to the Regulatory Guarantor - who is none other than Robert W. Cook, labeled “Director of FinRA” and “Chairman of Financial Industry Regulatory Authority, Inc. (FinRA).”
(Needless to say, it's a dangerous world. BE CAREFUL!)