Episode Summary In this episode, John and Jane close out the regulatory season by looking at the gray areas where rules run out and personal judgment takes over. They solve the puzzle of why investment firms strictly prohibit advisors from acting as executors of their clients' wills. The hosts unpack how the 2021 Client Focused Reforms raised the bar for managing conflicts of interest, why disclosure alone can actually make bad behavior worse, and share Jane's vital list of client-side red flags designed to stop financial fraud in its tracks.

Key Concepts

• Compliance vs. Ethics: Compliance means doing what the specific rules require, whereas ethics is what you do when the rules do not reach. Because rules are written after problems occur and cannot cover every sce ...