April 28, 2022
Money Smart Week 2022
Money Smart Week, which was held virtually from April 9-16, 2022, is a national public education program coordinated by the Federal Reserve Bank of Chicago and delivered by a network of supporters. Money Smart Week strives to empower the public with the knowledge and skills to make better-informed personal financial decisions around the key financial pillars of saving, spending, borrowing and planning.
Financial Literacy Month
April marks Financial Literacy Month, which is a nationwide, collaborative endeavor aimed at highlighting the importance of financial literacy and understanding how to establish and maintain healthy financial habits. Each April, organizations across the U.S. host a variety of activities and events across the country intended to educate the public on managing money and building savings. As part of this initiative, the Council for Economic Education (CEE) provides free educational resources for the public.
Informed Investor Advisory: Reassigned Investment Accounts
If your stockbroker or investment adviser leaves his or her employer, you should make sure that you understand how and why it happened. It could be as simple as a move to another city or retirement, but there could be other reasons too. It is critical to find out what happened before deciding who will help you with your investments going forward.
Information courtesy of NASAA
Customer Advisory: Avoid Forex, Precious Metals and Digital Asset Romance Scams
Romance scams can target people of any age, including individuals who are comfortable using online dating apps and trading foreign currency contracts (forex), precious metals and digital assets. The CFTC advises the public to avoid offers to trade forex, precious metal contracts and digital assets with people they meet through dating apps or social media, even if the relationship has been building for weeks or months.
Information courtesy of the CFTC
Investor Bulletin: Crypto Asset Interest-bearing Accounts
Crypto assets, including so-called cryptocurrencies, stablecoins, tokens, and other digital assets have been of increasing interest to retail investors over the last few years. This Investor Bulletin from the SEC highlights the risks that may be involved in a recent financial product related to crypto assets—an interest-bearing account for crypto asset holdings.
Information courtesy of the SEC
Reminder: NFA Has No Jurisdiction Over Non-Members
Please note that NFA does not have jurisdiction over firms or individuals that are non-Members. If you file a complaint against a non-Member, NFA will not investigate the matter as we do not have jurisdiction over non-Member firms or individuals. Filing a complaint with NFA will only delay the investigation of your complaint by the appropriate regulatory agency (e.g., the CFTC, the SEC or FINRA). We encourage you to file directly with the applicable agency.
Recent Enforcement Actions
- BTU Brokers Inc and Christopher Anthony Ridgeway
- Conquest Incorporated and John Alan Vassallo and Dennis Todd Weinmann
- Edeal Markets LLC and Nithya Narasimhan
- Goldman Sachs & Co., LLC
- Interactive Brokers LLC
- Plus EV Capital LCC and Rohit Chopra
- Marex Spectron International Limited