The
The regulators decided to combine forces after the SEC, Florida securities regulators and the
As part of the new program, the regulators will step up enforcement actions, increase the number of targeted exams and do a better job of educating seniors. The SEC plans to work more closely with state and local law enforcement, as well as Federal and state regulatory agencies, in order to identify and shut down scams targeting senior investors.
The SEC has already put together at its website a
The NSAA has had a
"Another American Baby Boomer will turn 60 every eight seconds for the next 20 years," said SEC Chairman Christopher Cox. "As the nation's assets increasingly are held by older Americans, fraudsters can be expected to follow Willie Sutton's example and go where the money is. That's why the SEC's partnership with state regulators to safeguard the assets of older Americans is so important."