SEC panel to call for better Wall Street disciplinary database

April 9, 2015 4:12 PM

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WASHINGTON, April 9 (Reuters) - A panel of investor advocates said on Thursday they were developing a proposal for U.S. securities regulators that will make it easier for retail investors to conduct online background checks of financial professionals before hiring them.

The Securities and Exchange Commission's Investor Advisory Committee discussed the recommendation amid concerns about elderly investors who are often prime targets for fraudsters.

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