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State securities cops warn about religious "affinity fraud"

Losses in Greater Ministries case feared at $200 million WASHINGTON (September 1, 1999) – State securities regulators today issued a warning about con artists who target members of religious groups. The warning follows state regulatory and law enforcement actions in recent months in securities fraud cases in which members of religious groups were targeted by […]

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State securities regulators highlight problems with day trading

Report calls on firms to fully disclose risks, screen customers better Regulators urged to step up enforcement, explicitly ban lending schemes Independent analysis finds that at least 70% of traders lose money and only 11.5% might profitably trade WASHINGTON (August 9, 1999) – State securities regulators today issued a report based on a seven-month investigation of the […]

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NASAA President Peter Hildreth’s Remarks on Day Trading Report

August 9, 1999, NASAA News Conference, Washington, D.C.

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NASAA President Peter Hildreth's Remarks on Day Trading Report

August 9, 1999, NASAA News Conference, Washington, D.C.

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Securities regulators seek input on database for investment advisers

An open forum to gather ideas is scheduled for Sept. 27 WASHINGTON (August 5, 1999) – State and federal securities regulators are seeking ideas from the financial planning industry, trade groups, consumer organizations and others as they design an electronic database to contain records on investment adviser firms and investment adviser representatives. The system, to […]

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SEC microcap fraud actions: State securities regulators issue statement

(August 3, 1999) – As the SEC announced another microcap fraud sweep this morning, Peter C. Hildreth, New Hampshire’s director of securities regulation and president of the North American Securities Administrators Association (NASAA) issued the following statement: These latest actions are another victory in the war against microcap stock fraud. Working together regulators are winning. […]

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State securities regulators repeat warnings about stock day trading

WASHINGTON (July 30, 1999) – In wake of the tragedy in Atlanta on Thursday, the North American Securities Administrators Association (NASAA) issued the following statement: The majority of the day trading firms state securities regulators have investigated in the past year have misled customers by exaggerating the potential profits of day trading and downplaying the […]

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Promises, promises: Investors warned about risky, fraudulent promissory notes

Con artists target elderly, even pray with victims to gain their trust Washington, D.C. (July 19, 1999) — State securities regulators are warning investors about promissory notes, often sold by insurance agents, that promise high interest rates but are in fact very risky and often fraudulent. Many victims are elderly, like an Indiana woman in […]

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Longer stock trading hours mustn’t shorten investors’ time horizons, state securities regulators warn

WASHINGTON (June 30, 1999) – Longer stock trading hours must not encourage Main Street investors to shorten their investment time horizons, state securities regulators cautioned today, as a regulatory summit opened on extending trading sessions at the major US stock markets. “We’re now a nation of stockholders and the markets are reacting by offering convenience—just […]

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Martin Frankel case: A phone call could’ve saved billions, note state securities cops

Computer database, available to the public, contains work, disciplinary records on 600,000 stockbrokers WASHINGTON (June 24, 1999)– One phone call to state securities regulators about Martin R. Frankel, the missing Connecticut money manager, could’ve saved investors their money, a leading state securities regulator said today. Bradley Skolnik, Indiana Securities Commissioner and incoming president of the […]

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