April 14, 2020
NFA continues to closely monitor the latest developments related to Coronavirus (COVID-19) and is committed to providing the investing public with resources related to the evolving situation. These resources, among others, include how to file a complaint, how to make an arbitration claim and other important updates aimed at keeping investors informed. To stay up-to-date with NFA's ongoing response to the COVID-19 pandemic, please visit our Coronavirus Updates and Guidance page.
Investor Alert: Look Out for Frauds Seeking to Profit from Market Volatility Related to COVID-19
Fraudsters commonly use major events, such as the spread of COVID-19, to add credibility to their cons or manipulate the emotions of potential victims. Investors can protect themselves by learning to recognize their own mental biases and fraudsters' common tactics—and by taking a few preventative steps.
Information courtesy of the CFTC.
Avoiding Coronavirus-Related Scams
The Coronavirus pandemic fosters a unique opportunity for scammers and fraudsters to take advantage of innocent people. To combat those opportunities, the Federal Trade Commission (FTC) provides consumer tips for keeping scammers at bay. Additionally, investors can learn more about how the FTC is fighting potential scams during the COVID-19 pandemic.
Information courtesy of the FTC.
SEC Investor Alert: COVID-19 Scams
Fraudsters often use the latest news developments to lure investors into scams online, claiming products or services of publicly-traded companies can prevent, detect, or cure Coronavirus, and that the stock of these companies will dramatically increase in value as a result. The promotions often take the form of so-called “research reports” and make predictions of a specific “target price.” Investors should be wary of these promotions, and to be aware of the substantial potential for fraud at this time.
Information courtesy of the SEC.
Financial Peace of Mind during the Coronavirus Pandemic
COVID-19 has made a significant impact on supply chains, financial markets and the economy, and businesses and investors are questioning how they will weather the storm. During such times, it is important for investors to focus on the things they can control. To do so, FINRA has provided five questions investors can ask themselves to achieve financial peace of mind.
Information courtesy of the FINRA.
Recent Enforcement Actions
Bainbridge Asia Limited
Connor Paul Campo
James Alan Donelson
Fintech Investment Group, Inc.
Scott Joseph Gecas
Nicholas Charles Gunther
Highland Quantitative Driven Investments LLC
Long Leaf Trading Group, Inc.
Monsoon Capital LLC
Wai Man Yip
Michael Todd Zatorski