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PROTECTING SENIOR INVESTORS: COMPLIANCE, SUPERVISORY AND OTHER PRACTICES USED BY FINANCIAL SERVICES FIRMS IN SERVING SENIOR INVESTORS
In February 2008, NASAA, the SEC Staff, and FINRA undertook an initiative to identify and publish examples of practices that financial services firms have developed with respect to their interactions with senior investors.
PROTECTING SENIOR INVESTORS: REPORT OF EXAMINATIONS OF SECURITIES FIRMS PROVIDING “FREE LUNCH” SALES SEMINARS
In May 2006, NASAA and the U.S. Securities and Exchange Commission announced a coordinated national initiative designed to protect seniors from investment fraud and sales of unsuitable securities. Working together with FINRA, the initiative included a series of coordinated on-site examinations of broker-dealers, investment advisers and other financial services firms that offer so-called “free lunch” sales seminars to detect abusive sales tactics aimed at seniors. This 2007 report is a result of that effort.