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Rules and regulations should favor effective transparency and disclosure requirements.
Regulators should eliminate or minimize conflicts of interest, particularly with respect to rating debt-backed securities.
Regulators should increase transparency, accountability, and independence. Regulations should promote consumer protections.
Policymakers should promote transparency in the investment industry. Investment options should be explained and disclosed clearly and understandably.
Registration as a financial professional should not be limited by the type of investment advice or nature of the advising entity.
States should:
Individuals should have adequate redress, including access to the courts and class actions.
State laws should provide for criminal penalties against those who commit securities fraud.
Individuals who work for broker-dealers and sell investment products should be required to disclose relevant information and conflicts of interest, regardless of the type of license they hold.
Regulators should work to eliminate fraudulent, deceptive, or unfair practices with respect to investment sales, accounting methods, disclosures, and market structure.
Brokers and other financial professionals who commit fraud currently face civil sanctions. Policymakers should consider adding criminal penalties to this.