Special Edition Featuring Two New Investor Alerts—July 28, 2009

Beware of Fake Check Scams

We recently issued this Alert to warn you about "mystery shopper" and "modeling" scams using checks that appear to be from legitimate companies—including FINRA.

In each of these scams, you are sent an authentic-looking check. In many instances, the name of a real company appears on the check as well as real account and routing numbers. You are instructed to deposit the check in your bank account and then transfer a portion of the money to someone else. Days later, your bank informs you that the check was counterfeit and that you are liable for the amount withdrawn, usually several thousand dollars. You’ve been scammed.

This Alert describes two fake check scams that we’ve identified, offers tips on avoiding these types of frauds, and tells you where to turn for help if you are a victim of one of these scams.

Read the fake check alert now.

Investing in a Bankrupt Company: A High Risk Venture

The SEC and FINRA issued this Alert because there may be widespread misunderstanding by investors that stock in the "old" General Motors Corporation (now known as Motors Liquidation Company) is related to the "new" General Motors Company (new GM). FINRA halted trading in old GM (which had been using the GMGMQ trading symbol) on July 10, 2009, and has since issued a new ticker symbol for the old GM stock—MTLQQ—to avoid having it confused with the new GM, which currently has no publicly traded securities.

This Alert also reminds you that holding shares of any company involved in bankruptcy, or buying shares in a bankrupt company in the hope that those shares will surge in value down the road, are highly risky courses of action.

Read about bankrupt companies now.

Podcasts

Making Smart Financial Choices After a Job Loss—Part 1

Cushion the blow of a potential job loss by planning wisely for that possibility. Learn how to take control of your finances as you enter a period of unemployment. Listen now.

Sign up for FINRA podcasts now! Subscribe using the feed reader or start page of your choice.

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Past Issues of Investor News Available

In response to numerous requests, previous issues of Investor News are now available on our Web site.

Visit the FINRA Investor Education Web site at http://www.finra.org/Investors.

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