The world of bonds is notorious for investment fraud. Many Wall Street brokerage firms obscure the fact that bond funds are notoriously risky, while dishonest stockbrokers promote these funds to ultra-conservative investors. These fraudulent practices have defrauded millions of retirees and senior citizens. However, there are ways to protect yourself from these schemes. Listed below are some steps you should take to protect yourself. Read on to learn more.
The Bureau of Fiscal Service (SEC) and other regulatory bodies are aware of these fraudulent practices. While the SEC and FINRA do not enforce strict regulations, there are a number of state securities regulators that may be able to assist you. These regulators are the best sources of information when it comes to preventing fraudulent activities involving historical bonds. The SEC is the primary federal regulatory body, but state securities commissions can also be useful sources of information.
As a victim of securities fraud, you deserve compensation for your losses. The financial damages of a poorly managed bond fund can be devastating, and you may be able to recover some of your money through a lawsuit. In some cases, you may be able to recoup your losses, depending on your level of risk and the type of investments you make. In addition to seeking monetary relief for your losses, pursuing an investor fraud claim will teach Wall Street stockbrokers not to prey on innocent consumers.