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He wasn't giving advice as a registered financial advisor though. I don't think anybody even knew he was one until WSJ published a piece on him. How does this h
by ra7 6y ago
He wasn't giving advice as a registered financial advisor though. I don't think anybody even knew he was one until WSJ published a piece on him. How does this hold up in courts?
- JumpCrisscross 6y ago> How does this hold up in courts? Surprised they went for the courts instead of arbitration. Securities arbitration is notoriously biased towards the client. And even an allegation makes it onto the individual’s permanent regulatory record. Smells like a PR stunt.
- detaro 6y agoDon't you need some kind of established relationship to go for arbitration? I.e. sure, against your advisor or broker that makes sense, but against a random person you weren't a client of?
- JumpCrisscross 6y ago> Don't you need some kind of established relationship to go for arbitration? Broadly speaking, I believe so. But FINRA arbitration is odd. I wouldn't be surprised if this individual could claim he thought DeepFuckingValue was giving him advice over Reddit to gain standing. From there, it's in the system.
- compiler-guy 6y agoIf you have a license, you have responsibilities as defined by the regulations involved, regardless of whether the people you interact with know you have those responsibilities or not.
- rocmcd 6y agoI wonder if this has been tested in court before. If I'm a licensed medical doctor and then I post under a pseudonym online on things medical-related (while not claiming to be a doctor or claiming to know anything about what I'm talking about), would it be possible to be sued for medical malpractice for that advice? That seems questionable.