October 29, 2012
Department of Justice-SEC Fraud Summits
In early October the FINRA Investor Education Foundation participated in a series of Investor Fraud Summits sponsored by the United States Department of Justice and the United States Securities and Exchange Commission (SEC) at several venues across the country. The summits, which were open to the community, law enforcement and others, featured what federal and state regulators and law enforcement are doing to protect investors, and highlighted the "red flags" of investment fraud.
"We are proud to participate with the Department of Justice and the SEC in this coordinated campaign to teach Americans the tricks of the trade of outsmarting investment fraud," said Gerri Walsh, President of the FINRA Education Foundation.
Beware of Phony IRS Websites
The IRS is warning the public about a new tax scam that uses a website that mimics the IRS e-Services online registration page. The real IRS e-Services page offers Web-based products for tax preparers and payers—not the general public. The phony Web page looks almost identical to the real one.
The official IRS website is www.irs.gov. Some of the phony websites end in .com, .net, .org or other designations instead of .gov. If you find a suspicious website that claims to be the IRS, send it to firstname.lastname@example.org; put “Suspicious website” in the subject line.
David Lerner Associates, Inc. Apple REIT Ten
See restitution information for investors who purchased Apple REIT Ten.
How Much Do You Really Know About Investing?
Take our short quiz and test your knowledge of investing. After you submit your answers, we explain which answers are correct and why.
Podcast: It Pays to Understand Your Brokerage Account Statements and Trade Confirmations
Investors should always review their brokerage account statements and trade confirmations. These documents help people stay on top of their investment holdings, and can alert them to errors, or even misconduct like unauthorized trading or excessive fees for handling transactions. This podcast (4 min. 46 sec.) explains key elements of account statements and trade confirmations, and includes tips on how to avoid problems.
Video: How To Build a Budget
No clue where your money goes every month? Wish you could save more? A budget—or spending plan—can help you figure out your priorities and get your finances on track. Watch the FINRA Foundation’s new video and learn how to create and maintain your own budget.