Securities Law Prof Blog

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

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Wednesday, September 5, 2007

D.C. Focuses on Securities Fraud Against Elderly

Quote of the day from SEC Chair Cox: "Every rock that we turned over seemed to have a bug or a worm crawling out underneath.  In each of the sweeps we conducted, we found significant fraud." Fraud perpetrated on the elderly is the focus of two hearings; the specific issues concern "free lunch" investment seminars and bogus titles for advisers claiming special expertise in retirement planning.  Today the Senior Special Committee on Aging will hold a hearing; on Sept. 10 the SEC holds its Second Summit on Seniors.  WPost, Investment Pitches Prey On Elderly.

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