New Hampshire Law Adopts Provisions Based on NASAA Model Rule on the Use of Senior Certifications and Professional Designations WASHINGTON, D.C. July 7, 2008—New Hampshire Governor John Lynch today signed into law HB 1274, making New Hampshire the first state to legislatively adopt provisions based on NASAA’s Model Rule on the Use of Senior Certifications [...]

WASHINGTON, D.C. June 27, 2008—State securities regulators today voiced strong support for the Senior Investor Protections Enhancement Act of 2008 introduced by U.S. Senators Robert P. Casey (D-PA) and Herbert H. Kohl (D-WI) to strengthen penalties for securities law violations involving senior victims. “State securities regulators believe that every investor deserves protection, none more so [...]

WASHINGTON, D.C. April 14, 2008—The North American Securities Administrators Association (NASAA) today commended Dateline NBC for its April 13 program, “Tricks of the Trade,” which exposed questionable sales practices that some insurance agents use to sell equity indexed annuities that may be unsuitable investments for seniors. “Dateline’s producers and correspondent Chris Hansen are to be [...]

NASAA Also Voices Strong Support for the ‘Senior Protection Act of 2008’ and Applauds Sen. Herb Kohl’s Leadership in the Fight Against Senior Investment Fraud WASHINGTON, D.C. April 1, 2008—The North American Securities Administrators Association (NASAA) today announced that its membership has approved a new model rule prohibiting the misleading use of senior and retiree designations, [...]

Washington, D.C., February 8, 2008 – The Securities and Exchange Commission (SEC), the North American Securities Administrators Association (NASAA), and the Financial Industry Regulatory Authority (FINRA) today announced a new initiative as part of securities regulators’ efforts to protect senior investors. The goal of the initiative is to identify effective practices used by financial services [...]

WASHINGTON, D.C. (September 10, 2007)– During a Seniors Summit held today at the Securities and Exchange Commission, securities regulators released a joint report summarizing the results of their examinations of “free lunch” investment seminars. The year-long examination was conducted by the SEC, the Financial Industry Regulatory Authority (FINRA) and state securities regulators (members of NASAA, the [...]

NASAA says retirees and those nearing retirement remain vulnerable as they manage a lifetime of savings WASHINGTON, D.C. (September 10, 2007) —The North American Securities Administrators Association (NASAA) today issued a Senior Investor Alert warning that retirees and those nearing retirement can face serious traps as they manage the savings they have accumulated throughout their working [...]

State securities regulators warn senior investors to be aware that a combination of “free lunch” seminars, misleading professional “senior specialist” designations, and abusive sales practices can create a perfect storm for investment fraud.

Borg: “States have been in the vanguard developing innovative regulatory responses to fight senior investment fraud.” WASHINGTON, D.C. (September 5, 2007)—The North American Securities Administrators Association (NASAA) today told a Congressional panel that senior investors are being targeted through “free lunch” investment seminars by predators holding professional-sounding designations that can be nothing more than empty marketing [...]

NASAA President Joseph P. Borg to Testify Before U.S. Senate Special Committee on Aging WASHINGTON, D.C. (August 30, 2007) – North American Securities Administrators Association (NASAA) President and Alabama Securities Commission Director Joseph P. Borg will discuss ongoing efforts of state securities regulators to protect senior investors from misleading “free lunch” seminars and professional designations [...]