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“Senate bill would increase penalties for securities fraud”

A bill has been introduced before the Senate which would allow the SEC to substantially increase the penalties for securities fraud. The Stronger Enforcement Civil Penalties Act (SEC Penalties Act) of 2012 would strengthen penalties in both civil and administrative actions. Currently, the SEC can penalize individual and institutions per offense. The agency can sometimes calculate penalties to equal the amount of the ill-gotten gain but only if the case would reach federal court. The proposed measures would increase the cap for most serious securities law violations. To read more about the proposed legislation and its potential impact, click here for the original article: http://www.investmentnews.com/article/20120723/FREE/120729978.

If you believe you have been taken advantage of, contact us right away. We can help you know if you have a legitimate securities fraud case.

 

“Baby Boomers: Con Artists Are Targeting You”

Con artists are continuing to target the savings of the baby boomer generation and senior citizens in investment scams. According to the North American Securities Administrators Association  (NASAA), state securities regulators are reporting a surge of investment fraud against the senior citizens. Senior citizens are at risk as they tend to have more investments and funds to go after than the rest of the population. Unregistered securities in the form of promissory notes, private offerings or investment contracts are the most common types of products in senior abuse cases. Other types of investment scams include affinity fraud, where a con artist infiltrates a senior citizen organization, creates a relationship with the senior citizen and then pitches a fraudulent investment to the senior citizen. Beware of the pitch from a supposed investor. Before investing, check to see if the claimed investor is licensed in your state. For the original article, click here: http://www.foxbusiness.com/personal-finance/2012/07/20/baby-boomers-con-artists-are-targeting/.

If you believe you have been taken advantage of, contact us right away. We can help you know if you have a legitimate securities fraud case.