We’ve all seen bad actors in movies and T.V., but did you know that bad actors can be found on Wall Street and other financial industry institutions? The Financial Industry Regulatory Authority (FINRA) recently released a statement outlining the need for checks-and-balances against bad actors.
What are bad actors?
FINRA defines a bad actor as one within the financial industry “who seeks to evade regulatory requirements and harm investors for their own personal gain”. Essentially, they’re con artists; fraudsters.