Portus Abuses
We have received increasing information from colleagues that the Portus investigation is leading to numerous abuses which contravene the intent of most securities regulations as well as basic rights of advisors.These include:
Threats of termination to advisors reporting the role of dealer management in promoting Portus products.
Vetting of information provided to the MFDA and OSC to sanitize the image given of dealer management and blacken that of advisors and assistants.
Outright falsification of information.
The use of the inquiry to accumulate assets in the hands of a few large branches under the pretext of compliance requirements, a process which is actually reducing the level of service to clients and the accessibility of advice
by clients while increasing dealer profits.
The Advisors' Clarity Initiative asks all advisors to write in their experiences either using the Guestbook or by email to accrue@email.com. Requests for confidentiality will be strictly observed.
posted by Thunderer @ 7:20 PM
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