The AARP and the North American Securities Administrators Association (NASAA),have
teamed up to recruit monitors to attend "free lunch" investment
seminars and report their findings back to the regulators. According to the AARP release,
folks can attend these seminars when invited, and take along a
checklist to complete that will provide AARP and the regulators with
information about the seminar and the information presented and sales methods used. The checklist is online via a link from the release. For folks who don't wish to attend the seminars, AARP still asks them to send in the invitations they receive so that they can be reviewed.
Many brokers across the country have conducted numerous free lunch type sales/information seminars, and the trend appears to be continuing. Compliance folks and managers should remain vigilant to ensure that the material presented is appropriate, that it has been reviewed by the firm, and that no sales practice violations are occurring. We've known that this area has been an area of focus by the regulators, and now, even more so. Forewarned is forearmed.
Many brokers across the country have conducted numerous free lunch type sales/information seminars, and the trend appears to be continuing. Compliance folks and managers should remain vigilant to ensure that the material presented is appropriate, that it has been reviewed by the firm, and that no sales practice violations are occurring. We've known that this area has been an area of focus by the regulators, and now, even more so. Forewarned is forearmed.
Comments