In searching for a better way of policing Wall Street, SEC commissioner Luis Aguilar is onto something: Let investors sue their advisers the way they could sue their doctors for malpractice. Speaking before state securities regulators (NASAA) in Washington on April 16, Aguilar was not only critical of the industry’s sacrosanct rules that prevent investor lawsuits, but new SEC guidelines that could be much tougher in preventing fraud: More in Forbes here.
