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Nov 25, 2014

U.S. National Consumer Protection Week - November 25, 2014: There’s smart. And then there’s CFTC SmartCheck.

National Consumer Protection Week Blog Updates

Joshua Bailes
Consumer Content Specialist, Office of Consumer Outreach, U.S. Commodity Futures Trading Commission
Investors often fail to check the background of their financial professional, making themselves vulnerable to fraudsters. Additionally, investors can sometimes overlook signs that indicate there’s something wrong with the person, and instead focus on just the supposed profit. This can leave them vulnerable to fraud and financial predators.
To help, the U.S. Commodity Futures Trading Commission launched SmartCheck on November 19, 2014, a campaign designed to encourage investors to check out the background of their financial professional when they invest. Research has shown that much of investment fraud is committed by unregistered or unlicensed financial professionals, or by those with disciplinary history in their background. This information is ready available, but it is often ignored by investors.

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