Investor Alert: Social Media and Investing - Avoiding Fraud
I just read an alert from the SEC. Here are some excerpts and the link to the whole article.
http://www.sec.gov/investor/alerts/socialmediaandfraud.pdf
The SEC’s Office of Investor Education and Advocacy is issuing this Investor Alert to help investors be better aware of fraudulent investment schemes that may involve social media. U.S. retail investors are increasingly turning to social media, including Facebook,YouTube,Twitter, LinkedIn and other online networks for information about investing. Whether it be for research on particular stocks, background information on a broker-dealer or investment adviser, guidance on an overall investing strategy, up-to-date news, or to simply discuss the markets with others, social media has become a key tool for U.S. investors.
Click on the link above for the full article. The Office of Investor Education and Advocacy has provided this information as a service to investors. It is neither a legal interpretation nor a statement of SEC policy. If you have questions concerning the meaning or application of a particular law or rule, please consult with an attorney who specializes in securities law
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this is the visual deterrent via publicity, and it is to give people info- as to them having the wherewithal to pursue and prosecute, we will wait and see- prevention not cure is where this is coming from IMO
I agree, but having the info out there and know it's coming from an organization like the SEC is comforting.
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I guess this is a heads up for people. Sure wish there was a way to stuff the scammers in prison for a good long stint!