Securities Law Prof Blog

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

Thursday, December 13, 2007

NASAA President Testifies on Holiday Scams

In testimony before the U.S. Senate Committee on Banking, Housing, and Urban Affairs, NASAA President Karen Tyler said investment fraud, a year-round problem, hits home during the holidays when consumers may face a financial crunch with increased expenses from holiday gifts and travel, or may be considering end-of-year investment or tax-savings opportunities.  State securities regulators are concerned that this predatory conduct, combined with a convergence of financial challenges - higher gasoline prices, a volatile stock market, lower housing values, and general economic unrest - may lead individuals to make hasty, ill-informed decisions in the pursuit of higher returns on their investments.  NASAA urges investors to be especially vigilant in protecting their assets from Internet, telephone and in-person promotions for alternative investment opportunities.

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