SEC, NASAA and FINRA Gather to Coordinate Efforts to Protect Older Investors from Financial Fraud
Hosted by the Securities and Exchange Commission, Senior Summits allow state securities regulators the opportunity to come together with the SEC and FINRA to coordinate joint enforcement and education efforts to protect senior investors from investment fraud. The Summit is a testament to the fact that senior investors remain a target for unscrupulous sales persons — and that further unified action is necessary to punish and deter the wrongdoing.
Third Annual Seniors Summit, September 22, 2008
The SEC, NASAA and FINRA released a joint report outlining practices that financial services firms can use to strengthen their policies and procedures for serving older investors as they approach and enter retirement.
- Protecting Senior Investors: Compliance, Supervisory and Other Practices Used by Financial Services Firms in Serving Investors
- SEC-NASAA-FINRA News Release
Second Annual Seniors Summit, September 10, 2007
The SEC, NASAA and FINRA released a joint report summarizing the results of their examinations of free lunch investment seminars.
- NASAA President’s Opening Statement
- Joint SEC-NASAA-FINRA Investigative Report on Free Meal Seminars
- Senior Investor Alert: Free Meal Seminars
Inaugural Seniors Summit, July 17, 2006
In May 2006, NASAA and the SEC announced a major initiative, in conjunction with the NASD (later known as FINRA), to protect senior investors from investment fraud and the sale of unsuitable products. The joint initiative includes aggressive enforcement, targeted examinations, and investor education and outreach programs, as well as regular meetings of the three regulatory groups to discuss collaborative efforts and to further the initiative’s goal of protecting senior investors.