If there’s on
e thing that banks on Wall Street are great at, it’s finding loopholes in laws. A great example is the fact that some types of brokers and financial advisors can actually put their profits and commission above the best interest of their customers. This means that if they can make a big commission by putting an investor’s money in a risky venture, they’ll do it in a heartbeat – even if that investor has told them not to do so. But that could all be changing in the next few weeks, as new rule proposals could finally close that loophole. Mike Papantonio talks about this with attorney Peter Mougey, who specializes in securities litigation.
