SEC Partners with Securities Organization

June 2006

Washington Perspective, June 2006

Washington Perspective, June 2006
Update on Pension Reform Legislation
Congress Eliminates Income Limits on Roth IRA Conversions
Combat Pay for IRA Contributions
Paulson Nominated for Treasury
Shelby Aide Nominated for SEC
SEC Partners with Securities Organization
Regulatory Issues

Chairman Chris Cox announced that the SEC and the North American Securities Administrators Association is launching a joint national initiative to protect senior from investment fraud and the sales of unsuitable securities. The SEC will hold a Seniors Summit later this summer and we understand that it will be a roundtable event designed to explore investor protection issues that are unique to seniors. Some of the focus will be on retirement products, such annuities and IRAs, that are marketed to seniors. The intent is to make sure that seniors have the necessary education and disclosure to make informed financial and investment decisions.

For more information, see the May 8, 2006 SEC press release, “Securities and Exchange Commission and North American Securities Administrators Association Launch Program to Protect Senior Investors.