Blog by Bill Singer Esq WEEK IN REVIEW

September 11, 2021

( Blog)
In a new episode of the Financial Planning podcast hosted by reporter Julie Coleman, lawyer Bill Singer answers four questions:

Why is fraud so difficult for wealth managers to detect and prevent?
How can advisors help regulators and law enforcement catch fraudsters?
What is the craziest case of fraud you've heard of?
The SEC seems to be releasing a lot of fraud cases - what do you think is the reason for this?
Take a woman. Put her in a relatively low-level Wall Street job. Put her in a position where she's more likely to fail than succeed. Put her in situations where she either follows orders or else. Then enlist an industry regulator to pretend that everything this vulnerable woman did was on her own volition. After you've blindfolded justice and stuffed her ears, impose sanctions on this same woman in the guise of Wall Street regulation. Despicable. Shameful. Then again, it's how things work on the Street. Certainly, it's part of FINRA's tawdry record of failing to confront sexism,  racism, and discrimination/harassment in the industry.