SEC to Hold First-Ever Senior Summit as Protection Against Fraud
WASHINGTON - To help thwart the growing number of investment fraud cases against senior citizens, the Securities and Exchange Commission was scheduled to hold its first-ever Seniors Summit July 17. The summit's agenda will include a session on seniors and investment fraud, an enforcement and examination update, and a panel discussion from SEC staff and persons from other organizations. The summit will also include the unveiling of a study funded by the NASD Investor Education Foundation that explores why the elderly are victimized by fraud crimes. "Today's older Americans are living longer and healthier, and therefore investing more, than any previous generation. That trend toward longevity is expected to continue. As a result, older Americans will be more vulnerable to financial fraud than ever before," said SEC Chairman Christopher Cox. "Those who would rob older Americans of their retirement nest eggs steal more than hopes and dreams-they erode the trust on which our entire financial system and economy depend. That makes protecting seniors an urgent priority." Cox was scheduled to serve as a moderator at the summit.