Though the 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:
“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 here.