Former SEC official urges 15,000 Morgan Stanley advisers to ‘say no’ to Bitcoin ETFs, citing ‘mammoth risk’

The former head of the US Securities and Exchange Commission’s internet application, John Reed Stark, has expressed concern about Morgan Stanley’s 15,000 financial advisers promoting cryptocurrency investments, citing risks to retail investors and potential career consequences for counsellors. He warned that advisers could risk their Certified Financial Planner credentials if they fail to join (…)