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June 8, 2016

Serial firings ‘big problem' at brokerages

  • An academic study from March found that 15 to 20 percent of the brokers at some of the largest financial services firms in the country have disciplinary records.
    • By MICHAEL RUBINKAM
    Associated Press

    SCOTRUN, Pa. — He was fired from one company, then another, then another. And still Anthony Diaz continued handling other people's money.

    The smooth-talking securities salesman affiliated with 11 different investment firms in 15 years, getting booted from five of them and resigning from another amid customer complaints and rules infractions. Yet his checkered employment history never seemed to slow him down on his way to earning millions by pushing high-fee, high-risk “alternative investments.”


     
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