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Education and Awareness: The Best Defense Against Securities Fraud

Education and Awareness: The Best Defense Against Securities Fraud. Texas State Securities Board Denise Voigt Crawford Securities Commissioner. Introduction. Who is the Texas State Securities Board?

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Education and Awareness: The Best Defense Against Securities Fraud

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  1. Education and Awareness: The Best Defense AgainstSecurities Fraud Texas State Securities Board Denise Voigt Crawford Securities Commissioner

  2. Introduction • Who is the Texas State Securities Board? • Agency mission includes protecting and educating Texas investors and potential investors. • Be cautious about investing – do your homework.

  3. Topics of Discussion • Checking out your salesperson and the company they represent • Check out the products you may want to invest in • The Top Five Threats to Investors • Being an “active” investor

  4. Checking out your investment professional • Background checks: The State Securities Board is the best source for records. Call us for information at 512-305-8332 or contact us by e-mail at records@ssb.state.tx.us

  5. Checking out your investment professional Alternatively, you may go directly to national databases online: Central Registration Depository (CRD) www.nasd.com Investment Advisers Public Disclosure (IAPD) www.adviserinfo.sec.gov

  6. Finding out about investment products • Registered or exempt • Public offerings / Private offerings • Check with SSB Registration Division • Beware of “secret” offerings and products you have never heard of

  7. Current investment scams • Unregistered Securities • Unlicensed Individuals Selling Securities • Oil and Gas Investment Fraud • Pump and Dump Schemes • Unscrupulous Brokers

  8. 10 Tips to Avoid Investment Fraud • Check out the person touting investment deals • Beware of high-pressure tactics • Exercise particular caution if you lack financial experience • Keep in mind that good manners do not indicate personal integrity • Watch out for salespeople who prey on your fears

  9. 10 Tips to Avoid Investment Fraud • Exercise particular caution if you are a senior • Monitor your investments and ask tough questions • Look out for trouble when retrieving your principal or cashing out profits • Report investment fraud or abuse immediately, despite any embarrassment or fear you may feel • Beware of “reload” scams

  10. Being an “active” investor • Don’t hand over your money, then tune out • Review your monthly account statements thoroughly • Ask questions of your broker or adviser and take notes

  11. What This Means • Knowledge is power and being informed is your best defense. • Be suspicious of things that don’t make sense to you. • High returns & no risk – an impossible combination • If it sounds too good to be true, it probably is.

  12. Contact the SSB www.ssb.state.tx.us 512-305-8300 (Main) 512-305-8332 (Registration) 512-305-8392 (Enforcement) 888-663-0009 (Toll Free)

  13. Texas State Securities Board Austin – (512) 305-8300 Corpus Christi – (361) 887-1085 Dallas – (214) 630-8681 Houston – (713) 426-0336 Lubbock – (806) 762-8010 San Antonio – (210) 886-0073 “INVESTIGATE BEFORE YOU INVEST!”

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