Summary: Insufficient advisor exams, tax-free exchanges of variable annuities, binary options and reverse churning of clients with wrap fee accounts are among the top concerns the Securities and Exchange Commission’s Investor Advocate has in the new year.
 In FY 2014, the SEC examined approximately 10% of investment advisors, which equates to an examination cycle of once every 10 years. This level of coverage is simply inadequate to protect investors.”Rick Fleming , Securities and Exchange Commission. |
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