Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Wash. DFI rule protects seniors from misleading marketing
OLYMPIA, Wash. (10/29/08)--The Securities Division of the Washington State Department of Financial Institutions (DFI) has adopted a rule governing the use of professional designations that imply knowledge about issues relating to seniors. The rule is to protect seniors from misleading marketing by people offering investment transactions. The rule adopted is the North American Securities Administrators Association's Model Rule on Senior Designations. DFI says Washington is the first state to adopt the rule. "The purpose of the rule is to protect seniors by prohibiting the misleading use of senior and retiree designations," said DFI in a press release. "There has been a proliferation of professional designations that purport to show special knowledge of issues relating to seniors." Some of the designations represent a significant course of study, while others are mere marketing devices. Under the new rule, which became effective in July, the Securities Division can take license action against securities salespeople who use a senior designation to mislead seniors about their expertise. DFI warned consumers to check out anyone offering investment services or investment opportunities prior to signing any agreements, and to avoid those opportunities accompanied by high-pressure sales tactics that imply the offer won't last.


RSS





print
News Now LiveWire
CUNA: CUNA offices closed through Friday, News Now returns Monday http://t.co/a5xbLzQKDj
1 Day ago
Reminder: @CUNA's Madison, D.C. offices will be closed through Friday, open again on Monday. #NewsNow will publish Monday.
1 Day ago
MI dentist to match @CUDirect's $20K to @HurleyMedical as a result of #20for20 online voting http://t.co/hqmIc9LpK1 @CMNHospitals
1 Day ago
New #creditunion chartered in St. Louis - #LutheranFCU - by @TheNCUA http://t.co/faPfANGS0P. Only 3rd new FCU charter this year.
1 Day ago
Don't get hacked during the holidays-use these tips from @CUNA http://t.co/jEqxni6NhO #StoptheDataBreaches http://t.co/woIxPOIyys
1 Day ago