National Ethics Bureau Develops Case Study That Shows Advisors the Key to Winning with Compliance
SAN DIEGO, CA, December 09, 2009—To help financial advisors play by the rules and win, the National Ethics Bureau has developed a “Compliance Playbook” that shows advisors how to avoid regulatory problems and build successful practices.
Entitled Play by the Book, NEB’s case study shows how a hypothetical advisor avoids regulatory problems by adhering to 20 key compliance | Continued » |
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The National Ethics Bureau™ (NEB) is a leading advocate for business ethics in the financial services industry. NEB promotes ethical business practices through its trade-magazine columns, conference presentations, monthly newsletter, and website content. It also maintains a membership community of background-checked advisors who have agreed to uphold its principles and membership standards.
NEB also sponsors an affordable errors-and-omissions program and state-approved ethics and compliance CE courses for licensed insurance agents and securities brokers.
For the general public, NEB provides the ability to purchase a background check on any financial professional prior to doing business.
NEB is not a financial designation, nor does it endorse any products or services offered by its members or sponsors.
For more information, visit: www.ethicscheck.com |
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Build Your NEB
Knowledge Here
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This month, our highlighted FAQ questions deal with NEB sponsors, our ethics advocacy role, and serviced provided to the public.
28. What services does NEB provide to the general public?
NEB provides consumers with a variety of resources that help them stay protected and informed in the financial services marketplace. These include:
- A series of free, easy-to-understand consumer protection guides.
- Access to a third-party identity theft prevention service.
- A comprehensive, consumer-friendly contact directory of all regulatory agencies. | Continued »
Complete FAQ document click here. |
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FINRA Wants Permanent Paper Trail |
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FINRA wants to make its disciplinary actions permanently available to the public even if an offending advisor leaves the business. Under current rules, an advisor’s record generally becomes unavailable to the public two years after he or she leaves the securities industry and is therefore no longer under FINRA’s jurisdiction. This move gives advisors all the more reason to stay 100% in compliance with FINRA regulations.
“It has never been more critical for investors to research the backgrounds of the people who approach them with investment proposals,” said Richard Ketchum, FINRA Chairman and CEO. “Individuals previously barred by FINRA and other securities regulators have surfaced in a number of recent frauds responsible for millions lost by unsuspecting investors. Investors should be able to check if the financial professional they're dealing with has been the subject of a disciplinary action by regulators.” | Continued » |
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| Rogue Advisors on Parade |
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Recent crimes and consequences in the
financial services industry.
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Attracting Clients
in Dicey Times
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When I read a newspaper or watch CNN these days, I feel as if I’m peering through a thick mist. I see disturbing flashes . . . a new low on the Dow, another $30 billion to bail out this or that bank, ever lower home prices, soaring unemployment, scary deficits. |
But these flashes do little to produce real understanding. Where is our economy headed? When will we hit bottom? What’s next for our industry?
It’s no secret there’s overwhelming uncertainty in the air right now, which has resulted from unprecedented change. Problem is, when you’re uncertain, you get a bit lost. Like a sailor adrift on a foggy sea without a compass, you lose your sense of direction, along with your self-confidence. And when clients sense this, they start looking for a new ship . . . and a new captain. | Continued » |
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Seminars and NEB:
A Perfect Match |
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Seminars are one of your best venues for leveraging your NEB
membership. Here’s why:
- People are coming to your seminars ready to learn. But they also want to check you out. What better time to highlight the fact you passed NEB’s rigorous background checks.
- The goal of conducting a seminar is to educate attendees, as well as establish your credibility. Mentioning your NEB affiliation at the outset is a huge credibility booster. It also establishes a positive tone for the rest of the session.
- Assuming you present worthwhile information, mentioning NEB will likely increase the number of attendees you attract to your office.| Continued »
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Tip #3
Enlighten
Your Clients
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Educate your clients about what they bought. Make sure they understand what it covers and doesn’t cover, as well as all moving parts, fees and expenses, and risks and guarantees. |
Brought to you by the National Ethics Bureau, sponsor of Preferred Risk E&O insurance for qualified advisors. To see how much you can save, visit www.eoforless.com.
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Contact us: Phone: (800) 282-1831 | www.ethicscheck.com
Copyright © National Ethics Bureau Inc. 2009. All Rights Reserved.  |
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