NASAA Offers Webinar to Help Investors Understand Risks of Self-Directed IRAs
SEC issued warnings last year about the potential for investment fraud in self-directed individual
retirement accounts, regulators continue to worry that investors don’t
truly understand the risks associated with the products. With at least
$92 billion of U.S. retirement money currently invested in self-directed
IRAs, regulators are right to be concerned. Particularly when investor
complaints about the products – including claims of
misrepresentations and omissions – are increasing along with consumer demand.
In an effort to help combat investment fraud and raise investor awareness
about the risks of self-directed IRAs, the North American Securities Administrators
Association (NASAA) and the Retirement Industry Trust Association (RITA)
will offer a joint educational webinar this week. Designed to help investors
protect their retirement accounts, the webinar will focus on:
• The warning signs of investment fraud in self-directed IRAs;
• What investors should do if they suspect fraudulent activity; and
• How regulators help protect investors who use self-directed IRAs.
“Education is the best defense against investment fraud. Self-directed
IRAs can provide a safe path toward retirement, but investors need to
be aware of the red flags of fraud,” said Jack E. Herstein, NASAA
President and Assistant Director of the Nebraska Department of Banking
& Finance, Bureau of Securities.
The webinar will be free and open to the public. It is scheduled for July
18 at 2 p.m. EDST. Anyone interested in attending can register