Category Archives: unsuitable investments
Arrest Made in $1.2 Million Retirement Fraud Against Florida Seniors
CBS Miami is reporting this week that 4 arrests have been made in a $1.2 million money laundering scheme that left at least 17 elderly people from all over the country with significantly less in their retirement accounts. Working together, the Florida Attorney General Pam Bondi’s Office, the Florida Office of Financial Regulation and… Read More »
SEC Provides Hedge Fund Data to Congress
In 2010, in response to the 2007–2008 financial crisis, the federal government passed the Dodd-Frank Wall Street Reform and Consumer Protection Act. Dodd-Frank made a number of important changes to financial regulation in the United States, including to reporting requirements of private funds like private equity funds or hedge funds. Private equity typically involves… Read More »
“Free Lunch” Investment Seminars Not Always Only About Education
According to “Save and Invest”—a website and newsletter run by FINRA’s Investor Education Foundation—over 6 million Americans 55 and above have attended a “free lunch investment seminar.” But as FINRA also notes that these seminars are often less about education than they are about sales. “[A]ttendees are often pressured into making unsuitable—or even fraudulent—investments,”… Read More »
FINRA Urges Focus on “Concentration Risk”
No two investors are the same. They have different income goals, different risk tolerances, and different time horizons—among other differentiating factors. Indeed, one of the most common ways in which investors and brokers get into disputes with each other is through complaints of “unsuitability.” This is an argument by the investor that his or… Read More »
Precious Metals Futures Fraud
The Commodity Futures Trading Commission (“CFTC”) established the Precious Metals Fraud Advisory to alert customers to precious metals fraud and lists of recognized frauds and scams. The advisory also posts blogs and tips on simple ways to spot precious metals scams. The CFTC implemented several customer protections advisories to provide various warnings on popular… Read More »
