Despite what you may believe, financial fraud does not always come in the form of strangers touting Ponzi schemes or investments that sound too good to be true. Instead, all too often financial fraud arises from people you trust - like the college classmate who just reached out on social media or the distinguished gentleman who recently joined your church group. This unique, and often devastating, type of financial fraud is so common it has...
Starting a new business can be exciting and lucrative. But it also comes with a great deal of responsibility and potential pitfalls. Here are four things you should consider before beginning a business. Choose a Legal Structure Operating a business without forming a legal entity can expose you and your partners to substantial personal liability and negative tax consequences. In contrast, forming a corporation or a limited liability company turns your business into its own...
The SEC recently approved new FINRA rules designed to protect seniors from financial elder abuse. Beginning February 2018 brokerage firms will be allowed to place a temporary hold on a disbursement of funds or securities when the firm has a reasonable belief of potential financial exploitation. Firms also will be required to take reasonable efforts to include the name and contact information for a trusted contact person on a customer’s account. Purpose of the FINRA Rule...