By Charles Lowenhaupt
Financial Advisor IQ
Speaking at Finra’s annual conference in Washington, D.C., last month, Richard Ketchum, the securities industry self-regulator’s CEO said, “The financial services industry has weathered many challenges in the last few years: a recession, significant frauds, a flash crash. And while we have worked hard to prevent those kinds of events from being repeated, they have had a lasting effect on investors’ trust and created a true crisis of confidence in the markets.”
So what does Finra propose to do about the financial chicanery and technological glitches that have shaken financial markets in recent years? Impose more regulation. For the world’s wealthiest families, however, mere regulatory reform isn’t enough.
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