SEC Will Host Virtual Event on Scams Aimed at Seniors

Event on March 31, 2022, designed to 'educate older adults and their caregivers'

The U.S. Securities and Exchange Commission (SEC) will host a free virtual outreach event that is designed to help older adults and their caregivers identify and avoid financial scams. The event is called "Safeguarding the Golden Years: Avoiding Financial Fraud," and it can be accessed via the SEC's website, sec.gov, from 10:00 a.m. to 11:30 a.m. Eastern Time on Thursday, March 31, 2022.

The SEC cites estimates that older Americans lose about $3 billion annually to financial fraud. "Our goal is to empower and educate older adults and their caregivers, so that they can spot the red flags of fraud and ask the tough questions before entrusting anyone with their money," stated Hane L. Kim, who heads the SEC's Retail Strategy Task Force.

Key Takeaways

  • The SEC is hosting a free virtual event aimed at educating older adults and their caregivers about financial fraud.
  • The event will take place on Thursday, March 31, 2022, from 10:00 a.m. to 11:30 a.m. Eastern Time.
  • Members of the public can submit questions in advance.
  • The SEC cites estimates that older Americans lose about $3 billion annually to financial fraud.

Format of the Event

After remarks by SEC Chair Gary Gensler, the event will begin with a panel discussion among officials of the SEC, the American Association of Retired Persons (AARP), and the Financial Industry Regulatory Authority (FINRA). Law students from the Fordham University and University of Miami investor advocacy clinics, which provide free legal representation to harmed investors, will share lessons that they have learned from senior fraud cases. Additionally, participants will answer questions submitted by the public in advance to this e-mail address: Summit2022@sec.gov.

About Law School Investor Advocacy Clinics

Tracey L. McNeil, the SEC ombudsman, said: "Law school investor advocacy clinics offer legal representation and outreach services that are often instrumental in helping investors avoid, or recover from, financial fraud and scams. If you want to know more about safeguarding your financial future—especially if you are retired or nearing retirement, or if you are helping an older adult make financial decisions—watch our virtual event to learn more about the critical resources that law school advocacy clinics offer."

The outreach event is part of the SEC's 2022 Investor Advocacy Clinic Summit. During this day-long summit, members of law school investor advocacy clinics will inform SEC officials about the sorts of financial fraud cases and issues that they have encountered in the course of assisting retail investors who have been targeted.

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  1. U.S. Securities and Exchange Commission. "SEC to Host Free Virtual Outreach Event to Help Older Adults and Their Caregivers Avoid Financial Fraud."

  2. U.S. Securities and Exchange Commission. "SEC Investor Advocacy Clinic Summit."

  3. U.S. Securities and Exchange Commission. "2022 SEC Investor Advocacy Clinic Summit: Virtual Outreach Event."