Financial gatekeepers and investor protection : evidence from criminal background checks

• Main Authors: Law, Kelvin Kai Fung, Mills, Lillian F.
• Other Authors: Nanyang Business School
• Format: Article
• Language: English
• Published: 2020
• Subjects: Business::Finance; Background Check; Criminal Records
• Online Access: https://hdl.handle.net/10356/144944
• Institution: Nanyang Technological University

We examine whether financial advisors with pre‐advisor criminal records pose a greater risk to investors than those without. We find that financial advisors with pre‐advisor criminal records are more likely to receive future customer complaints. Their complaints are more likely to receive arbitratio...