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Self-Directed IRA Scams Are on the Rise, State Securities Regulators Warn

Self-Directed IRA Scams Are on the Rise, State Securities Regulators Warn
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SIFMA supports senior investor taskforce | Investment Executive

James Langton
The U.S. securities industry is endorsing bipartisan legislation to create a regulatory taskforce to tackle the exploitation of senior investors.
In a letter to Congressional lawmakers, industry trade group the U.S. Securities Industry and Financial Markets Association (SIFMA) voiced its support for proposed legislation that would create a “senior investor taskforce” within the U.S. Securities and Exchange Commission (SEC) to focus on senior investors’ issues.
The proposed taskforce would report to Congress every two years, and it would require the Government Accountability Office to study the economic costs of the exploitation of senior investors.
Noting that investors over age 50 already account for about 77% of financial assets in the U.S., SIFMA said that it’s estimated that “senior investors are being exploited out of billions of dollars a year.” ....

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