The AARP and the North American Securities Administrators Association (NASAA),have teamed up to recruit monitors to attend "free lunch" investment seminars and report their findings back to the regulators. According to the AARP release, folks can attend these seminars when invited, and take along a checklist to complete that will provide AARP and the regulators with information. As I've posted about earlier, the SEC, FINRA and various state seccurities regulators have conducted examinations focused on these lunch or dinner seminars, typically aimed at senior citizens. The findings from the exams show some bad conduct on the part of the sales folks, incuding fraud, misreprsentations and omissions, unsuitable recommendations and more. As quoted in the AARP release, SEC Chairman Christopher Cox said, "Every rock that we turned over seemed to have a bug or a worm crawling out underneath. "In each of the sweeps we conducted, we found significant fraud."
Joel Beck
The Beck Law Firm, LLC - Georgia Securities Lawyer
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October 30, 2008
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- If you think you have been the victim of stockbroker fraud, call Joel Beck at The Beck Law Firm, LLC today for a brief, complimentary consultation. (678) 344-5342.
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