Really? Right after she perjured herself stating there was a shrinkage in retirement planning she advocated for it. I read it right in her testimony.I thought I did except for the part where it's supposed means confiscating people's 401ks. I am having trouble finding that section.
Financial professionals have a legally binding fiduciary duty. If a complaintant can prove bad faith was exercised in replacing a plan there are fines, potential imprisonment, revocation of license, and possible civil lawsuits. In other words simply replacing one type of account for another to gain the selling party is ILLEGAL if the customer can incur a loss in finances or ROI.On what charges? Did you lie about the yield or something and thereby commit fraud? To me, selling someone something is different than fraud and is different than confiscating.
It is.That may all be true.
Oh sure, "Do it or we'll tax your gains away" is perfectly voluntary.Still doesn't seem to be confiscating 401ks.