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Top 10 Investor Complaints - SEC
[ by Melanie Gretchen ]
For fiscal year 2012, the SEC fielded and closed nearly 30,000 investor complaints, questions and other contacts. The Commission's Office of Investor Education and Advocacy is charged with that task, and it wasn't even a record. The SEC's workload in FY 2011 was higher, by more than 4,300 cases.
Numbers for the TOP TEN COMPLAINTS are, as follows:
1 Ponzi Schemes (Line 1). The vast majority of these complaints related to a particular highly publicized SEC enforcement action. [C-I: Our guess is the $7 billion Stamford Ponzi. The case opened in 2009 and the trial ended with a conviction in 2012.]
2 Specific Market Events (Line 7). The vast majority of these complaints related to a particular highly publicized initial public offering. [C-I: That would be Facebook.]
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