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Enforcement

Investor Alert: Thinking About Investing in the Latest Hot Stock? Understand the Significant Risks of Short-Term Trading Based on Social Media

The SEC’s Office of Investor Education and Advocacy warns investors of the significant risks of short-term investing based on social media, especially in volatile markets, and provides tips for long-term investing.

Investment Scam Complaints on the Rise – Investor Alert

The SEC has recently experienced a significant uptick in tips, complaints, and referrals involving investment scams. The SEC’s Office of Investor Education and Advocacy urges investors to be on high alert in order to protect themselves and others from becoming victims of investment fraud.

Fraudsters use times of uncertainty and change, such as the current COVID-19 pandemic, to lure victims into investment scams. Below are tips to help you recognize and avoid frauds like Ponzi schemes, fake CD scams, bogus stock promotions, and community-based financial scams.

Tips for World Investor Week 2020: Investor Bulletin

The SEC’s Office of Investor Education and Advocacy, the Commodity Futures Trading Commission (CFTC), the Financial Industry Regulatory Authority (FINRA), the National Futures Association (NFA), and the North American Securities Administrators Association (NASAA) are issuing this Investor Bulletin to highlight key messages from World Investor Week 2020, a global campaign to raise awareness about the importance of investor education and protection.  From October 5-11, 2020, investors, investment professionals, teachers, parents, researchers, and others are encouraged to make a special effort to promote investor education.  Here are a few key messages for Main Street investors.

Investment Scams May Seek to Exploit Natural Disasters – Investor Alert

After a natural disaster strikes, fraudsters may try to take advantage of individuals who want to help fund recovery efforts or who receive lump sum insurance payouts.

Fraudsters may use recent natural disasters, including Hurricane Laura, Hurricane Sally, and the wildfires on the West Coast, to lure victims into investment scams. These scams can take many forms.   

FBI and OIEA Warn Public that Fraudsters are Targeting Owners of Timeshares in Mexico

The FBI Criminal Investigative Division and the Office of Investor Education and Advocacy of the Securities and Exchange Commission (“SEC”) would like to warn consumers of a recent increase in fraudulent schemes targeting owners of timeshare properties in Mexico. These scams typically involve individuals alleging to be representatives of a brokerage firm, travel agency, title company, or escrow agent making unsolicited contact with owners of timeshare properties. 

COVID-19 Related Early Withdrawals from Retirement Accounts—Be Careful of Fraudsters and other Bad Actors Targeting Your Retirement Savings

The CARES Act of 2020 provides significant relief for businesses and individuals affected by the COVID-19 pandemic. This includes allowing retirement investors affected by the coronavirus to gain access to up to $100,000 of their retirement savings without being subject to early withdrawal penalties and with an expanded window for paying the income tax they owe on the amounts they withdraw. Unfortunately, unscrupulous promoters have used these CARES Act benefits to encourage investors to take money from their 401(k)s or traditional IRAs, not for current emergency financial needs, but to buy investments (often riskier ones) in an account at a firm the promoter recommends or in the investor’s existing account.
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