FPANJ Issues and Positions - Financial Fraud Prevention
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Financial Fraud Prevention:

The FPANJ believes financial fraud is a serious concern to the public and is harmful to the financial services industry.

The financial industry has grown significantly in the last twenty years and numerous products and services have been introduced to address consumers financial issues.  Unfortunately, some financial representatives have abused their responsibility to their clients.

Financial fraud comes in many forms and must be addressed. The New Jersey Attorney General, Department of Banking and Insurance (DOBI), and the Department of Securities are involved in the prevention and prosecution of offenders. The FPANJ supports financial fraud prevention and has participated in local and national financial fraud prevention programs. The FPANJ should continue to participate in financial fraud prevention and support these agencies in their fraud prevention activities.

The FPANJ was instrumental in the introduction and passing of the "Senior Financial Designation Abuse" law, in 2010.

The FPANJ members adhere to the FPA Code of Ethics and Standard of Care Guidelines, as required for membership. The FPANJ CFP certificants participate in the CFP Board ethics and discipline program to maintain their CFP designation.


Links:

Sate security regulators release top ten scams, schemes & scandals:
http://www.nj.gov/oag/ca/erdos/investtips.htm

Financial elder-abuse rampant:
http://www.investmentnews.com/article/20120513/REG/305139986

Senior Financial Designation Abuse Law:
http://3164-politickernj-com.voxcdn.com/thester/39395/schaer-milam-wisniewski-bill-protect-seniors-bogus-financial-closer-becoming-law




 

 

 

 

 

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