Thank you to Arlene Ferris-Waks from the NJ Office of the Attorney General, Bureau of Securities for her presentation on protecting yourself and your investments. Arlene highlighted the many roles that the Bureau of Securities performs to help keep NJ residents safe and informed when it comes to their investment decisions. All brokers, brokerage firms, and stockbrokers must be licensed with the Bureau of Securities, making it easy to determine if the person who is handling your investments is legitimate. In addition, if you feel that you have been a victim of an investment fraud or scam, you can contact the Bureau of Securities and they will conduct an investigation, including working with other local, state, and federal agencies.
Arlene also shared 10 tips to help investors stay safe, protect their investments, and identify potential scams or frauds:
- Don’t be a courtesy victim
- Stay in charge of your money
- Watch out for salespersons who prey on fears
- Watch out for No Risk securities; make sure to ask TOUGH questions
- Watch out for “insider tips” or “Get it Now” propositions
- Check out strangers touting strange deals
- Don’t judge a book – if it sounds too good to be true, it probably is
- Don’t make rash decision in the face of tragedy
- Look for trouble cashing out of your security
- Your friends can be WRONG
For more information on the role of the Bureau of Securities, please visit www.njconsumeraffairs.gov/bos. If you questions about anything related to investments or would like to learn more ways to keep you and your money safe, please contact Arlene at Ferris-WaksA@dca.lps.state.nj.us.