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FINRA Sends 50 Potential COVID-19 Related Scams to SEC Featured

Tuesday, May 05 2020
Regulatory & Compliance
Written by  PFA News

FINRA’s National Fraud and Financial Crimes Detection Programs has sent 50 cases to the SEC involving potential fraud by public companies related to COVID-19. So reports Think Advisor.

fraud 2695269 640smallThese referrals have helped the SEC suspend trading of more than 20 companies.

“Fraudsters are using the pandemic as an opportunity, so FINRA’s role in identifying fraud, acting quickly to protect investors, ensuring fair markets and providing timely information to investors, member firms, other regulators and law enforcement is essential,” Greg Ruppert wrote in a recent blog post. Ruppert was hired in March to head FINRA’s NCFC.

Read the full article from Think Advisor.

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