Free Webinar on How to Avoid Fraud in Self-Directed IRA Accounts
The North American Securities Administrators Association (“NASAA”) and Retirement Industry Trust Association (“RITA”) are jointly presenting a free webinar for the public on July 18 at 2 p.m. Eastern. The purpose of the webinar is to raise public awareness about how to identify fraud in connection with investing in self-directed IRA accounts.
Founded in 1919, NASAA is a voluntary association devoted to investor protection whose members include securities regulators in the United States, Canada and Mexico. Created in 1987, RITA is the professional trade association for the self-directed retirement plan industry.
Like a traditional IRA, a self-directed IRA is a retirement account held by a custodian. Unlike a traditional IRA account, however, a self-directed IRA permits a greater opportunity for asset diversification outside of traditional stocks, bonds and mutual funds. Self-directed IRAs are also permitted to hold investments such as real estate, private placement securities, and promissory notes.
RITA reports that self-directed IRAs represent about 2 percent of the IRA market and are continuing to attract investors at an explosive rate.
According to NASAA, state securities regulators have seen an increase in fraudulent schemes involving self-directed IRAs. In September, the SEC and NASAA issued ‘Investor Alert: Self-Directed IRAs and the Risk of Fraud’ to warn investors of the potential risks associated with investing through self-directed IRAs.
The webinar is expected to last approximately one-hour and will feature discussion by RITA President Tom Anderson and Matt Kitzi, NASAA Enforcement Section Chair and Missouri Securities Commissioner. Former Texas Securities Commissioner Denise Voigt Crawford will moderate the discussion.
The webinar will include such topics as:
• Self-directed IRAs in general and why are they useful
• The potential warning signs of investment fraud in self-directed IRAs
• Steps investors can take if they suspect fraud
For more details about the webinar, visit RITA’s website at www.ritaus.org or NASAA’s website at www.nasaa.org.
Registration information for the webinar is available at https://attendee.gotowebinar.com/019yq/register/5231648192178625280.
The Florida securities lawyers at Rabin Kammerer Johnson represent investors nationwide in FINRA arbitration matters. Investors nationwide who have incurred recoverable investment losses due to specific failures by stockbrokers and brokerage firms, and who may have a FINRA arbitration claim, may contact the Florida securities lawyers at Rabin Kammerer Johnson for a free and confidential consultation by calling toll free at 877.915.4040.
