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.

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.

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