Sales assistants' mistakes can be costly for advisers, brokers

08/1/2013 | Reuters

When sales assistants fail to comply with securities regulations or make serious mistakes, they can become a liability for financial advisers and brokers. The Financial Industry Regulatory Authority has initiated disciplinary proceedings against six sales assistants since May. One frequent mistake is that assistants don't call clients to confirm legitimacy when they are instructed to wire funds out of accounts, experts say.

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