Corporate & Securities Law

This month, the FINRA Investor Education Foundation launched a website that releases the results of a study of the financial capability of investors on a state-by-state basis. 

The study, which polled over 28,000 investors from each state in 2009, was aimed at helping assess and establish a baseline of financial capability for adult investors to be used by FINRA and other regulators to help explore ways to educate investors on how to make financial decisions.

The study shows that the residents of New York, New Jersey and New Hampshire have the highest level of financial literacy, while the residents of Kentucky and Montana know the least. 

The release of the study by FINRA comes shortly after the FBI and Department of Justice announced ?Operation Broken Trust?, which prosecuted 231 cases of financial fraud involving over 120,000 victims.  The FBI reported that there seemed to be a rising number of Ponzi scheme cases in 2009, and that the DOJ has more than 200 open cases at this time. 

The FBI also reported that the top five Ponzi scheme locations were Los Angeles, New York, Dallas, Salt Lake City and San Francisco.

Eccleston Law helps investors recover money that they lost through financial or securities fraud.  If you are an investor who lost money in a financial fraud, you may be able to recover you losses through arbitration.  Contact Jim Eccleston at the Eccleston Law Offices at 312-332-0000 to discuss your case.