<![CDATA[
]]>
There is no free lunch. Scammers are targeting elderly folks again, baiting them with free lunch, and forcing them to sign-up for misleading investment products. What a shame.
“A recent year-long examination of free lunch seminars conducted by
state securities regulators, the Securities and Exchange Commission,
and the Financial Industry Regulatory Authority found that while many
free meal financial seminars were advertised as “educational,” or
“workshops,” 100 percent of the “seminars” were instead sales
presentations; 50 percent featured exaggerated or misleading
advertising claims; and one-quarter involved possibly unsuitable
recommendations to attendees.
“Instead of unbiased financial
education and a meal, many free-meal seminar attendees are being fed a
hard sales pitch for investment products that are often unsuitable,”
said Mark Connolly, director of Securities Regulation.”
]]>
There is no free lunch. Scammers are targeting elderly folks again, baiting them with free lunch, and forcing them to sign-up for misleading investment products. What a shame.
“A recent year-long examination of free lunch seminars conducted by
state securities regulators, the Securities and Exchange Commission,
and the Financial Industry Regulatory Authority found that while many
free meal financial seminars were advertised as “educational,” or
“workshops,” 100 percent of the “seminars” were instead sales
presentations; 50 percent featured exaggerated or misleading
advertising claims; and one-quarter involved possibly unsuitable
recommendations to attendees.
“Instead of unbiased financial
education and a meal, many free-meal seminar attendees are being fed a
hard sales pitch for investment products that are often unsuitable,”
said Mark Connolly, director of Securities Regulation.”
