Trust But Verify: Regulators Demand Banks Verify Brokers' Background

Readers of my blog know I am a vocal critic of the investment industry because of its lack of transparency. I’ve not only taken investment banks to task for their lack of transparency, but questioned the effectiveness of their self-regulatory body, the Financial Industry Regulatory Authority. Now, I’m rooting for FINRA in its latest attempt to open the curtain at least a little bit more on some of the less savory practices of investment advisors.