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Stories of Interest
- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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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!)