Archive for July 23rd, 2006

SEC and NASD Investor Education Foundation

There are lots of good suggestions here. Recurrent themes —

  • need for cooperation amongst the regulators / law enforcement / non-profits / service agencies / etc.;
  • where to find help isn’t clear;
  • socialability (sp?) should be turned against the scammers (don’t isolate yourself: use your social skills to find and share accurate information)
  • as my friend John Aguino (NM Council on Indian Aging) says, elderlies need to know their rights and stand up for themselves.

By Lauren Dake | Contributor to The Christian Science Monitor, from the July 24, 2006 edition

WASHINGTON – Frieda White was the perfect target. Recently divorced, the 70-year-old hoped to supplement her monthly $1,196 fixed income by starting a small business out of her home. When Ms. White received an e-mail purportedly looking for eBay workers, she didn’t see any harm in responding. Not long after White hit “reply,” she received a phone call that would persuade her to take out a $5,365 loan on her Discover card to start her own business….

The SEC took a step in that direction last week when it hosted its first-ever Seniors Summit in Washington, D.C….
[http://www.sec.gov/news/press/2006/2006-109.htm]

Part of the solution, officials say, is teaching seniors how to spot the scammers. Another part is greater cooperation among various levels of law enforcement…. State and federal regulators from across the country met to discuss ways to combat investment fraud as well as a new report on the tactics scammers use. The study, released by the NASD Investor Education Foundation, may help blunt what regulators worry will be an increasing trend: scammers targeting seniors.

…Since states use different titles for their regulators, finding the right person to contact can be difficult. The NASAA’s website (www.nasaa.org), has a link titled “contact your regulator,” and the NASD has a hotline (800-289-9999) that can help investors determine whether sellers are licensed and whether there have been any complaints or legal action taken against their company.

"How seniors can spot a con more easily"
http://www.csmonitor.com/2006/0724/p13s01-lign.html?s=hns


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Everyone is an auditor of care

Another excellent reason for a genuine, autonomous senior advisory board. Everyone who visited this place should have been aware –and reported— the conditions. Having said that, it is also necessary to know to whom to report.

It is important to be involved with the monitors, staff, et al. to see that they have the resources to do their job and that they do it.

[“Rest home” must be a remnant newsmedia cliché. The news media also have a role to play in community health.]

Serious concerns over rest-home care
http://www.stuff.co.nz/stuff/0,2106,3741605a11,00.html

24 July 2006, by KELLY ANDREW

…Lower Hutt [New Zealand] rest home… Presbyterian Support Central, which owns the rest home, installed the cameras after receiving two anonymous complaints late last year….

[district health board] Auditors, on their first visit in May, reported encountering a strong smell of urine, limited ventilation, kitchens with uncovered food and open cat-food tins, and dirty medication rooms.

They found 24 areas where the rest home was not meeting the obligations of its contract. Four of these were rated as carrying a critical risk to residents’ welfare.


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