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SEC and Fordham University School of Law to Host Conference on Combating Community-Based Financial Fraud


Washington D.C., Oct. 28, 2019 —

The Securities and Exchange Commission’s New York Regional Office and Fordham University School of Law will host a conference on November 1 on combating community-based financial fraud.  The conference will focus on fraudulent and manipulative schemes that target potential victims based on race, ethnicity, religion, gender, age, and other associations.  Conference participants from the SEC, Department of Justice, Federal Bureau of Investigation, Financial Industry Regulatory Authority (FINRA), North American Securities Administrators Association (NASAA), and New Jersey Bureau of Securities will discuss effective strategies for detecting, preventing, and combating community-based financial fraud. 

The conference will take place November 1 from 9 a.m. to 3:15 p.m. at Fordham University, 113 West 60th Street, 12th Floor, New York, NY 10023.  SEC Chairman Jay Clayton will speak at 10:40 a.m., Scott Cohn from CNBC’s “American Greed” will speak at 12:40 p.m.; and Geoffrey Berman, U.S. Attorney for the Southern District of New York, will speak at 2:15 p.m.  Registration is available online

“Financial fraudsters who prey on their fellow community members are among the most insidious threats to the security of retail investors’ hard-earned money,” said Chairman Jay Clayton.  “By partnering with communities and law enforcement agencies that serve those communities, the SEC is committed to educating investors about the dangers of these fraudulent schemes and protecting them from becoming victims.”   

“Frauds that target victims based on the associations to which they belong can be difficult to investigate, as victims are often reluctant to report wrongdoing by fellow community members or friends,” said Marc P. Berger, Director of the New York Regional Office.  “These types of frauds—which exploit bonds of trust and friendship—are particularly devastating and can quickly lead to financial ruin.”   

The SEC’s Office of Investor Education and Advocacy and Division of Enforcement’s Retail Strategy Task Force encourage investors to review the Investor Alert on community-based financial fraud and the SEC’s Spotlight on affinity fraud.  In addition, a great first step in protecting your money is to visit to check the background of an investment professional and to learn how to identify the red flags of investment fraud.


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