Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Friday, July 20, 2007

Senate Committee Investigates "Certified Senior Advisers"

A Senate committee is investigating the practices of some insurance companies of holding out their sales agents as having special expertise in advising senior citizens about their financial needs.  The committee asked insurance companies and training companies to provide their materials.  A few weeks ago the New York Times ran a feature story on how an agent could become a "certified senior adviser" with minimal instruction.  Massachusetts regulators have cracked down on this practice, and the NASD has posted warnings on its website.  NYTimes, Senate Panel Investigates How Insurers Sell to Elderly.

http://lawprofessors.typepad.com/securities/2007/07/senate-committe.html

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