NASAA / AARP Free Lunch Monitor Program
With fraud and scams on the rise, older Americans remain a primary target for unscrupulous individuals. A common setting for fraudsters to engage with their victims is by offering a free lunch or dinner seminar for older investors interested in learning more about investing in retirement. Often, attendees of these free seminars are pitched unsuitable or fraudulent investment products and pressured into providing personal information. Remember: there’s no such thing as a free lunch.
NASAA has joined forces with AARP to give individuals an opportunity to fight back against unscrupulous promoters by reporting possibilities of questionable investment practices in their communities to state securities authorities for evaluation.
- Click here to learn how to become a Free Lunch Seminar Monitor.
- Protecting Older Investors: 2009 Free Lunch Seminar Report
2009 AARP-NASAA survey of the prevalence and tactics of free lunch seminars
- Senior Investor Alert: Free Meal Seminars
- AARP/NASAA News Release on Launch of Free Lunch Seminar Monitor Program
- Listen to Marketplace Radio’s report on free lunch investment seminars.
Seniors Summit on Free Meal Seminars
State and federal securities regulators actively investigate and bring cases to stop the spread of abusive sales practices that often emanate from free lunch seminars. On September 10, 2007, the SEC hosted the second annual Seniors Summit with NASAA and FINRA, where the regulators released a joint report summarizing the results of their examinations of free lunch investment seminars.