NASAA Report Finds that Senior Investors Continue to Be Primary Target for Fraudulent Investment Pitches

The North American Securities Administrators Association ("NASAA") found that senior investors continue to be a primary target for fraudulent investment pitches. NASAA's report, which includes responses from 49 jurisdictions throughout the United States, indicated that seniors were targeted in one-quarter of the relevant enforcement actions. Unregistered securities, in the form of promissory notes, private offerings or investment contracts continue to be the most common product involved in senior abuse cases. In fact, more than half of all reported enforcement actions that involved a senior victim featured unregistered securities.