The U.S Securities and Exchange Commission (SEC), on December 22, 2020, approved the new advertising rule. It improves the rules that govern investment adviser advertisements and payments to solicitors. It took effect on May 4, 2021. The new rule connects two laws: the current advertising rule, Rule 206(4)-1, and the cash solicitation rule, Rule 206(4)-3. These rules are under the 1940 Investment Advisers Act. This is the first important revision to those rules since 1961. Th
Grandparents are unwittingly losing lots of money to con artists, and this is how the scam works. These scams use the grandparent scam calls where they call alleging an emergency involving their young loved ones. Scammers will tell you that someone got hurt, kidnapped, or in danger, and they will ask the grandparents to wire money to them immediately. Common scenarios include: Grandma scam occurs when a grandma receives frantic calls from a “grandchild” claiming to be under a
A pump and dump scheme is a scam that includes the promotion of mediocre stock by investors, which creates a buying craze that booms or "pumps" up the stock price and reduces or "dumps" the stock's stock shares. When the scam takes off, fraudsters use social media, investment research websites, email, advertisements, and investment newsletters to spread false or misleading information about a company's stock price. The Securities and Exchange Commission (SEC) sites pump and d
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