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CEO Tells Congress He Was Fined For Hiring Too Many People

Peter Schiff's is the CEO of Euro Pacific Capital.

"In my own business, securities regulations have prohibited me from hiring brokers for more than three years. I was even fined fifteen thousand dollar expressly for hiring too many brokers in 2008. In the process I incurred more than $500,000 in legal bills to mitigate a more severe regulatory outcome as a result of hiring too many workers. I have also been prohibited from opening up additional offices. I had a major expansion plan that would have resulted in my creating hundreds of additional jobs. Regulations have forced me to put those jobs on hold."

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Added: Sep-20-2011 Occurred On: Sep-20-2011
By: jbpnw
In:
Politics
Tags: peter schiff, ceo, fined for hiring people, federal regulations, fail
Views: 2728 | Comments: 50 | Votes: 3 | Favorites: 1 | Shared: 11 | Updates: 0 | Times used in channels: 2
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