NATIONAL ETHICS BUREAU MAKES CRIMINAL BACKGROUND CHECK MANDATORY FOR MEMBER APPROVAL |
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SAN DIEGO, CA April 15, 2003 - The National Ethics Bureau (NEB) today announced that, in addition to holding a professional license and having an exemplary record of business ethics within ones industry, applicants must submit to a seven-year criminal background check. Any record of having a felony or business-related misdemeanor will automatically disqualify an applicant for membership.
"State regulators have warned that investment scammers are taking advantage of low interest rates and the volatile stock market to prey on unsuspecting investors, especially seniors," said Steven McCarty, National Director for the NEB: 'With consumer fraud up and consumer confidence down, there has never been a greater need for the American public to know who they can trust for professional advice.' McCarty adds that 'in today's financial world, consumers deserve some real peace of mind. By making criminal background checks a part of our approval process, the NEB is giving consumers and advisors a better night's rest.'
Mandatory criminal background checks will upgrade our current verification and approval process, said Jeffrey Kopitz, NEB 's Chairman of the Board and Director of Research: 'In addition to our other verification sources, which includes multiple regulatory agencies, this enhancement provides the American public with a real "head start" on performing their own due diligence before working with an advisor.'
About National Ethics Bureau:
The National Ethics Bureau™ (NEB) is a membership organization of financial professionals who have successfully passed a comprehensive background check and have agreed to maintain NEB membership standards. All members are admitted into NEB’s national registry, which consumers can access free of charge to verify a member’s background.
NEB also advocates for business ethics and consumer protection through its trade-magazine columns, conference presentations, consumer guides, monthly Ethics Edge newsletter, and web site www.ethicscheck.com.
NEB is not a financial marketing organization. It does not sell or endorse any financial products. Nor does it receive financial considerations from its members or other entities who sell such products.
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