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FINRA - Investor Advocate?

By Mark H. Astarita, Esq.

Has anyone noticed the new FINRA advertising campaign - "FINRA - a not for profit resource with nothing for sale" is the tagline. They are doing television ads, radio spots, even sponsored pay per click links on web pages.The links go to the Investor information section of FINRA's web site, and the opening paragraph claims that FINRA's job "is to protect investors every day by keeping the country?s capital markets fair. As a not-for-profit financial resource, FINRA offers unbiased information on a full range of issues that affect your money and investments."If one of my clients made that type of misrepresentation, FINRA would be all over them. Sure, FINRA is a not-for-profit organization, but what does that mean? It means nothing to investors, the public, the markets, or to anyone other than the IRS, so touting that is a bit misleading...continue to full post

Full post as published by SECLaw.com on December 06, 2007 (boomark / email).