Club Spotlight: Investment Club

LIGHT

Special Meeting with FINRA Wednesday, January 25, 2023, 7 p.m. Desert Vista

The Sun City Summerlin Investment Club is proud to announce that delegates from the Financial Industry Regulatory Authority (FINRA), based in Washington, D.C., will be its special guest speakers on Wednesday, January 25, 2023, at Desert Vista @ 7:00 p.m. Join us for a discussion of emerging investment trends, tips for keeping track of your investments, strategies for spotting and avoiding fraud, and tools offered by financial regulators to help you become a smarter, more informed investor, etc. It is also very important for YOU to know how FINRA and the Nevada Security Division protect you.

FINRA is the single largest independent regulatory body for securities firms operating in the United States. FINRA oversees more than 3,500 brokerage firms, 154,000 branch offices, and nearly 625,000 registered securities representatives, as of 2019. FINRA regulates the trading of equities, corporate bonds, securities futures, and options.

FINRA has the power to fine or ban brokers and brokerage firms that violate its rules. FINRA has 19 offices across the United States and over 3,000 employees. In its enforcement capacity, FINRA has the power to take disciplinary actions against registered individuals or firms that violate the industry's rules. In 2019, FINRA reported that it initiated 854 disciplinary actions, levied fines totaling $39.5 million, and ordered restitution of $27.9 million to investors. FINRA expelled 6 member firms and suspended another 21, while barring 348 individuals from the securities business and suspending another 415. In 2019, FINRA referred 827 fraud and insider trading cases to the Securities and Exchange Commission (SEC) and other government agencies for prosecution.

The Nevada Secretary of State’s Security Division law imposes a statutory fiduciary duty on Broker-Dealers and Investment Advisers. It prohibits the unethical or dishonest practice in the securities business of utilizing certain "senior designation" certifications, as well as other unethical conduct. It is a violation of the Nevada Uniform Securities Act to make any materially false, fraudulent, or fictitious statement or representation; present as genuine a document or record that has been forged or fraudulently altered; destroy, alter, erase, obliterate, or conceal any document or record with the intent to conceal violations of the Nevada Uniform Securities Act, conceal the identity of any person who has violated the Act, or to delay or hinder an investigation.

This is a free educational program brought to you by the Sun City Summerlin Investment Club on January 25, 2023, at Desert Vista @ 7:00 p.m. Due to the seating capacity, an RSVP would be appreciated via sdcommand@centurylink.net. Thank you. Steve Commander, President, Investment Club.