Spam

Spam is unsolicited electronic mail sent to a large number of addresses, usually advertising some product, service, business, Web site, scheme, or strategy. Stock spams are the electronic equivalent of a boiler room sales operation in which someone who doesn't know you tries to sell you securities, like penny stocks, or puts aggressive—and suspect—messages on an electronic message board to spur your interest in a company.

 

While FINRA does not prohibit its member brokerage firms or their employees from sending out spam, it does regulate the content of such messages sent to the public. In any communication with the public, our rules require that a member identify itself and that investors be given enough information to make a sound investment. Our rules prohibit statements making promises.

 

Remember, though, that FINRA can only regulate the actions of its member brokerage firms and their employees. While all U.S. brokerage firms have to be members of FINRA to do business with the public, most problem spams are likely sent to you by non-regulated businesses or individuals.

 

You can check out if the firm or individual spamming you is registered with FINRA on BrokerCheck.

 

If you think that the problem spammers may be registered with FINRA, you can forward spam or junk e-mail recommending that you invest in a stock or other investment to spam@finra.org.

 

If the spammers are not registered with FINRA, you can forward spam (junk e-mail) or copies of message board postings to enforcement@sec.gov.

 

Return to the FINRA Investor Complaint Center Home page.